 The Wild Wild World of Wealth |  |
It’s Worst Case Wednesday. And here’s the advice column I promised last week. Consider the following scenario: You’re at your desk, drinking $5 Starbucks and listening to the morning call. Three burly guys—Mack Truck faces—appear from nowhere on the trading floor. They’re miked up, wearing earbuds that stream deep inside their wrinkled jackets. Watch CBS News [...]
(By a Leading Hedge Fund in Greenwich, CT) Times are tough. So to help out, I’m running the following job description submitted by a headhunter from Manhattan. This is an unpaid advertisement, which I’m featuring as a service to my readers. Job Ref. MN 4623 Our client is a leading US hedge fund with a [...]
Hiring a dwarf to pose as a “small-cap” analyst isn’t funny. Shredding SIM cards is more effective than biting them in half. The SEC is awake. “Octopussy” is not a James Bond movie. McKinsey & Company’s publication, “Motivating people: Getting beyond money,” is a must-read for…well…McKinsey & Company. The Tamil Tigers are not a soccer [...]
One of my New Year’s resolutions is to examine what money buys in the world of high finance—legitimate or otherwise. At the hedge fund named Galleon, $5,000 bought the right to tase an employee.
The Death of Insider Trading II On Thursday, prosecutors charged fourteen more people with insider trading. The defendants all have links back to Galleon, in a corrupt web growing broader by the day. Acrimoney pays especially close attention to behavior on Wall Street and inside Hedgistan. Today’s story falls into our favorite category: You can’t [...]
Galleon, the SEC, and Wall Street’s behavior will dominate financial news for months to come. But what about the people in the trenches, the stockbrokers and sales assistants that slog through their days outside the public’s view? What is their world like?
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