• Bursting with pride.


    Life At JP Morgan Is Looking Up

    Yes, the bank just agreed to pay $13 billion to settle only one of the many investigations into its practices. Yes, #AskJPM didn’t exactly go off as planned. Yes, the public outrage reserved for Goldman Sachs has all but turned to 270 Park. Yes, the firm’s headquarters are visited regularly by an exorcist. And yes, […]

    / Nov 20, 2013 at 3:03 PM
  • Men-s-Argyle-Socks-MN-001-.11


    McKinsey Rule Of Dress Number One: Cover Up Your Ankles Immediately, But Not With Argyle. This Is A Consulting Firm, Not A House Of Ill-Repute.

    [Marvin] Bower enforced an unyielding dress code: dark suits, hats, and garters. Long socks were required because Bower abhorred the sight of “raw flesh.” Maurice Cunniffe, who worked at the firm from 1963 to 1969, could remember the protocol as if it were yesterday. “Definitely long socks,” he said. “And a feather on your hat […]

    / Sep 10, 2013 at 12:56 PM
  • I confess that I do not actually understand why UPS is like a 1,000x better business than Petco. Like, in 30 years we'll all 3D-print shit and no one will need to ship anything. But we'll always need kibble. What am I missing?

    Banks, News

    Cure For What Ails Banks May Be Less Securitization And Trading, Or Much More Securitization And Trading

    There’s a lot of The Future Of Banking in the news today and we should talk about it but first a proposition. Where are you more likely to lose money on a mark-to-market basis: buying 5-year PIK-toggle holdco Petco bonds at 8.6%, or buying 30-year UPS bonds at 3.625%? I say your odds of losing […]

    / Oct 9, 2012 at 4:05 PM
  • News

    Rajat Gupta Defense Team: You Think Our Client Would Pass Inside Information To A Guy Who Didn’t Even Have The Decency To Invite Him To His Birthday Party?

    What motivates people to share material non-public information with a person they know will use it for profit? For some, it’s simply about greed. For others, it’s about the thrill. For yet others, it’s about pillow talk. For Rajat Gupta, the McKinsey director currently on trial for allegedly passing inside information to Raj Rajaratnam, it’s about friendship, according to prosecutors who are trying to make the case that Raj and Rajat were the best of buds and that’s what buds do. They they back each other up when they drunkenly hit on the girlfriend of the wrong guy at the bar, they stand up as best men at each others’ weddings, they pick up the phone and say “Buy GS” when they know for a fact Warren Buffett is about to do so, too. And although attorneys representing Gupta don’t deny the two were thick as thieves, they argue that while perhaps back in the day Rajat would have provided useful information to Raj, there is no way he would have done so after Big R twice violated the bonds of friendship. In the first instance, there was this:

    Defense attorneys have argued that Messrs. Gupta and Rajaratnam had a falling out in fall 2008 after Mr. Gupta lost his entire $10 million investment in a fund managed by Mr. Rajaratnam and therefore wouldn’t have passed along inside information…The precise timing of their relationship’s deterioration could be crucial in proving Mr. Gupta’s guilt or raising doubts in the minds of jurors about whether he conspired to commit securities fraud…Defense attorneys have said Mr. Gupta was furious at Mr. Rajaratnam in the fall of 2008, when Mr. Gupta’s $10 million investment in a fund called Voyager Capital Partners Ltd. evaporated. According to Mr. Kumar’s testimony, Mr. Gupta felt Mr. Rajaratnam’s negligence had allowed Voyager to collapse.

    And then this happened:

    / Jun 4, 2012 at 5:53 PM
  • Banks, News

    CDOs To Buy European Bank Stocks And Other Silly Ideas

    Someone hit F9 on the random number generator that decides how much capital European banks need and now it’s $115 billion, which I guess is more than it used to be, so that’s a thing. As you might imagine this is a problem because who in their right mind would buy equity of a European […]

    / Dec 8, 2011 at 7:38 PM
  • News

    Rajat Gupta Not Sweating This Insider Trading Business

    As you may have heard, yesterday morning, former McKinsey managing director Rajat Gupta was charged with insider trading. Is he worried he might be headed to jail in the not too distant future? Not in the slightest. Because 1) As previously mentioned, that time he took part in a fall 2008 conference call with GS […]

    / Oct 27, 2011 at 9:44 AM
  • News

    McKinsey Says Companies Should Stop Overthinking Stuff And Just Go With The Flow

    Markets got you down? Can’t seem to keep up with your benchmark this year? Not sure you’ll ever figure out this whole buy-low, sell-high thing that you keep hearing rumors about? Cheer up, you’ve got good company. Company anyway. Specifically, corporate America, whose overall market timing ability is much worse than that of a chimp […]

    / Oct 14, 2011 at 5:11 PM
  • News

    Rajat Gupta May Not Be In The Clear On Goldman Tips To Galleon Just Yet

    According to Reuters, the only reason the SEC put its case against the former McKinsey exec/Goldman board member on hold is because federal prosecutors intervened, which “suggests continuing interest by U.S. Department of Justice prosecutors in Gupta,” who in one instance was so excited to pass inside information to Raj Rajaratnam that he rang up […]

    / Jul 6, 2011 at 11:41 AM
  • News

    Rajat Gupta’s Friends Have A Pretty Good Excuse For Those ‘Lapses In Judgement’

    The most common refrain when insider trading or other such fraud occurs on Wall Street is the question of why? Why did he/she do it? Money is often times too simple an explanation (especially when there are mommy issues to be explored) but other times it’s not. Like in the example of former McKinsey partner […]

    / May 17, 2011 at 11:24 AM
  • News

    Bain & Company Chairwoman Takes A Moment To Point Out Which Consulting Firm Hasn’t Been Employing Alleged Insider Traders

    In addition to Galleon Group, one firm whose name has popped up a whole bunch as it relates to the Feds’ Insider Trading Fest(ivus) is McKinsey. Until they resigned, the consulting firm employed two partners, Rajat Gupta and Anil Kumar, who have both been accused to sharing material non-public information about various companies with their […]

    / Apr 29, 2011 at 9:48 AM
  • News

    Raj Rajaratnam Just Wanted To See Anil Kumar Fairly Compensated For His ‘Knowledge’

    People helping people is all this is about.

    / Mar 10, 2011 at 5:06 PM
  • News

    Anil Kumar Pleads Guilty In Galleon Case

    The former McKinsey director pleaded guilty to one count of securities fraud and one count of conspiracy to commit securities fraud in Federal District Court in Manhattan. Mr. Kumar told the court that he had leaked to Mr. Rajaratnam that Advanced Micro Devices was planning to acquire ATI Techonologies. The leak occurred in March 2006 […]

    / Jan 7, 2010 at 3:10 PM
  • News

    Must Everyone Associated With The Galleon Case Have His/Her Own Cringworthy Rap To Speak Of?

    Survey says: yes. Obviously you’ve got Raj’s right here (“when the rally’s on, put your money on Galleon), and below, the track laid down by the McKinsey Knowledge Center, a division launched by none other than McK “rising star” and Rajaratnam buddy-boy Anil Kumar. If you’ve been escorted out of your company’s office in cuffs […]

    / Oct 20, 2009 at 1:56 PM

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