Speculation has been going around that some employees will be receiving a whole lot of nothing. Continue reading »
rumors
We live in a golden age of information dissemination and stock liquidity, in which news moves faster than earthquakes and high-frequency-trading robots can trade faster than you can blink, meaning that the next time there’s an earthquake your 401k will have bought construction stocks and Twitter even before you stop shaking.
But we’re also living in a golden age of misinformation, where you can find someone to publish pretty much any rumor you want, and those rumors can move markets up or down instantly. And for some reason the robots who’ve been put in charge of markets seem to be not dispassionate calculating machines but rather touchy C-3PO types, and can exacerbate the speed and severity of crashes with their hypersensitivity. But the upside should be that the recovery from millisecond crashes should be similarly quick – once misinformation is corrected, the robots should dry their tears, blow their noses, and bid prices back up in a few more milliseconds.
Maybe not so much. Three New York Fed researchers looked at a particularly silly case:
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StreetInsider is reporting: Continue reading »
The meeting is said to be scheduled for 3PM, leaving the staff, Beamers girls, Morton’s bartenders and the guy who “sells a whole lot of brown-bagged bottles of liquor to UBS employees every evening” plenty of time to freak out that they’re going to potentially told the bank is leaving the state. Alternatively, those who dream of a giant Costco taking over the 100,300 square foot space will have the entire day to salivate over potentially pillaging delicious and moderately priced cheesecakes every day after work. Continue reading »
Based on a second-hand rumor that a big hedge fund’s position is getting liquidated because of margin calls. With gold at a new record we’ll guess not. Krugman himself allows that he’d like/hope for this to be the case on account of that BusinessWeek article that implied Paulson might be smarter than him from over a year ago.
Possibly! Continue reading »
A month ago, Charlie Gasparino reported that Lloyd Blankfein’s friends had told him LB was tired of the grind and mulling over stepping down as CEO of Goldman Sachs by the end of the 2011. Goldman denied the story and reassured the world that Lloyd would be with us for many years to come. Apparently these so-called friends, like Gasparino, who said the denial was merely proof that GS was lying to him, beg to differ and have continued to tell the press Lloyd is on the way out. Continue reading »
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