WJB Capital

  • Paul-Volcker-002

    Banks, News

    The Volcker Rule Will Come Too Late For Kaufman Bros.

    If you’re a more or less regular consumer of efficient markets hypothesis Kool-Aid then a fun activity is to handicap the probability of various public policy things based on market reaction.* So for instance Obama’s budget is going to reduce the tax deductibility of munis! And the muni market didn’t care! So, no, Obama is not going to reduce the tax deductibility of munis. You heard it here first, or last, or whatever. (Exercise for the reader: is Obama going to raise the tax rate on dividends?)

    Since today seems to be Volcker Day hangover it’s worth pondering this:

    / Feb 14, 2012 at 2:30 PM
  • News

    This Is What Happens When You Forsake Ken Griffin!

    “Re: WJB Capital cutting its brokerage operations…the firm had recently gone on a hiring spree, including a couple Citadel analysts.”

    / Jan 3, 2012 at 12:47 PM

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