Gloomy Days Down In Boca

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Dark clouds are hanging over Boca Raton this week, where Wall Street’s leading trade group is staging its annual conference. The crowds seem smaller, and the mood is decidedly gloomy, according to Aaron Elstein of Crain’s. The only source of joy at the three-day conference is that at least it is taking place very far from the office.
In past years, the SIFMA conference has been a place for Wall Streeters to meet and greet, brag about big deals, compete for top spots as masters of the universe. This year’s conference has a totally different mood—nervous anticipation. And the question on everyone’s mind is which firm will take the next big earnings hit.
“Much speculation centers on Goldman Sachs, which is one of the few firms that hasn’t come out lately with a revised multi-billion-dollar write-down estimate,” Elstein writes. “Helping to feed those rumors, Edward Forst, the past year’s SIFMA chairman, abruptly canceled his appearance at the conference. The official reason was health reasons but Mr. Forst day job is as global co-head of Goldman’s investment management division, a post that may be keeping him plenty busy just now.”
Dark cloud hangs over Wall St. conference [Crain's New York]

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