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Inside The Movie Premiere Of 'The Ghost Exchange' — A Warning About High Frequency Trading To...
High frequency trading is one of the most polarizing issues on the Street. It's also so complex it's hard to talk about in normal conversation. To broaden the investing world's understanding of the topic, a new film called "The Ghost Exchange" is examining the impact of high frequency and algorithmic trading on U.S....
businessinsider.com (1 month and 22 days ago) read full article at businessinsider.com
IT'S OFFICIAL: Banks In Europe May Now Have To Seize Deposits To Cover Their Gambling Losses
As expected, Cyprus and the EU reached a new late-night bailout deal last night that will reduce the chance that Cyprus's financial system and economy will completely implode. The new deal is better than the last deal in one key respect: Deposits under 100,000 euros will be protected That's very important. Those...
businessinsider.com (1 month and 23 days ago) read full article at businessinsider.com
WALL STREET ANALYST: Twitter Is Disrupting The Main Service That I Provide
Last week after the Cyprus story first exploded, we pointed out that Twitter proved to be a far more useful source of serious analysis on the topic than Wall Street, which was fairly slow in producing research on the subject. Partly that was due to the fact that it was a weekend. It was also partly due to the lack...
businessinsider.com (1 month and 23 days ago) read full article at businessinsider.com
The Fed's Latest Attempt To Take The Competition Out Of Wall Street Compensation
(Reuters) - The Federal Reserve is pushing banks to ignore competitors' performance when awarding bonuses, and focus squarely on their own profitability, according to pay consultants and other people familiar with the matter. The central bank is hoping to change a deeply ingrained habit on Wall Street: awarding...
businessinsider.com (1 month and 24 days ago) read full article at businessinsider.com
Wall Street Bonuses Are Expected To Jump 15 Percent This Year
NEW YORK (Reuters) - Bonuses at Wall Street firms will rise 15 percent this year despite ongoing pressure from investors, regulators and politicians about compensation levels, according to compensation-consulting firm Johnson Associates Inc. The projected rise in pay would come after a 5 percent increase in 2012,...
businessinsider.com (1 month and 25 days ago) read full article at businessinsider.com
JPMorgan's Investor Relations Department Got A Big Award For The Way It Handled The 'London...
Investor relations trade publication IR Magazine had its big awards dinner last night and JPMorgan Chase's IR deparment got one for the way it handled the "London Whale" trade. The Wall Street Journal's Anton Troianovski reports: "J.P. Morgan Chase is winning for its handling of the $6.2 billion trading loss by...
businessinsider.com (1 month and 25 days ago) read full article at businessinsider.com
Elizabeth Warren Is Writing A Book
Senator Elizabeth Warren is writing her 10th book, says the Washington Post, and it will be called 'Rigged'. The Harvard Law professor turned Massachusetts politician will be writing about her time spent on the Hill after the financial crisis chairing Congressional oversight panels and starting the Consumer...
businessinsider.com (1 month and 25 days ago) read full article at businessinsider.com
A Couple Is Suing A Commodities Broker After Boozy Parties Allegedly Left A 'Stain' On Their...
A Brooklyn couple claims their Hamptons house was wrecked by the producers of an internet reality show that features boozy parties with girls in "various stages of undress" called "pArty of 5," the New York Daily News reported citing a complaint. Stuart and Susan Silverman are suing Joshua Blackman, Vice Energy LLC,...
businessinsider.com (1 month and 26 days ago) read full article at businessinsider.com
Nomura Is Fighting To Have Fewer Ladies Bathrooms At Its NYC Offices
The New York Post's Lois Weiss has an exclusive today about how the owner of Nomura's new offices at Worldwide Plaza in New York wants to install fewer ladies' rooms on the lower levels. The argument is that the Japanese bank employs mostly males. The city's plumbing code requires restrooms for men and women be...
businessinsider.com (1 month and 26 days ago) read full article at businessinsider.com
A Day In The Life Of A New York Stock Exchange Floor Broker
The storied New York Stock Exchange in lower Manhattan is a symbol of American capitalism. And the floor brokers, specialists and designated market-makers (DMMs) on the trading floor are the face of Wall Street, constantly appearing in photographs, newspapers and on financial television. Still, despite their...
businessinsider.com (1 month and 26 days ago) read full article at businessinsider.com
Former UBS Banker Wasn't Seeking Underage Prostitutes Because He Had Sex With 10 That Were Over 18
Former UBS banker Juerg Buergrin, who was the head of operations for the Swiss bank in Singapore, is on trial for allegedly having sex with an underage Singaporean prostitute. The banker's lawyer says he wasn't actively seeking underage sex. In fact, he sought the services of at least 10 other prostitutes ages 20 to...
businessinsider.com (1 month and 27 days ago) read full article at businessinsider.com
Bear Stearns Imploded Five Years Ago This Week — Here's Where Everyone Went
Five years ago this week, the world watched the spectacular implosion of Bear Stearns and its sale to JP Morgan for $10 a share. I was almost sold for $2 a share, collapsing under the weight of loads of bad securities. It seemed horrible at the time, but Wall Street would soon find out that it was only the...
businessinsider.com (1 month and 27 days ago) read full article at businessinsider.com
Credit Suisse "Obliterated" Its NYC Rates Trading Desk
When we hear about Wall Street layoffs we usually hear about them in the hundreds or (more likely) thousands. So normally a dozen or so layoffs doesn't make an impact. This is different. Reuters reports that Credit Suisse has sacked the head of its NYC rates desk along with about a dozen salespeople and traders. One...
businessinsider.com (2 months ago) read full article at businessinsider.com
A Former UBS Banker Says He Was Tricked Into Having Sex With An Underage Prostitute
Former UBS banker Juerg Buergrin could face time in jail for allegedly having sex with an underage prostitute in Singapore, according to an Agence France-Presse report. Prostitution is legal in Singapore, but the prostitute must be at least 18 years old. A lawyer for Buergrin, who was the head of operations for the...
businessinsider.com (2 months ago) read full article at businessinsider.com
More Guys Are Shopping Like Girls
We're seeing it more and more. Retailers turning shops into man caves, and most recently, those man caves are turning into parties. This Thursday NYC bespoke men's suit shop Windsor Custom is inviting gentlemen to come over for a flight of 3 Glenmorangie Scotches and a custom shirt for $150. The store is under The...
businessinsider.com (2 months ago) read full article at businessinsider.com
Meet The 'Winklevoss Twins' Of Goldman Sachs — Paul And Peter Scialla
Daily Intelligencer's Kevin Roose has uncovered the "Winklevoss twins" of Goldman Sachs — Peter and Paul Scialla. The good looking twins, who both made it to the highly coveted "partner" title in the same year (it was the first time in the firm's history that twins got it together), just left the investment banking...
businessinsider.com (2 months ago) read full article at businessinsider.com
A Trader And Pro Swimmer Are Launching A New Fitness Studio That Sounds Like Competition For...
José Palau, who worked as director of equity trading at Waverly Advisors with Andrew Barber, is making an aggressive bet on the fitness sector these days. Right now, Palau, who has more than eight years experience in finance, is getting ready to launch Aura Fitness— a boutique fitness studio based in Los Angeles...
businessinsider.com (2 months ago) read full article at businessinsider.com
Former Waiters Are Suing Peter Luger Steakhouse
Beloved steakhouse Peter Luger is being sued for alleged wage and hour violations by former employees, Newsday reports. Four former waiters filed a federal suit last week claiming that, starting in the Spring of 2007, the restaurant failed to pay them for prep work before and after their shifts, forced them to share...
businessinsider.com (2 months ago) read full article at businessinsider.com
RANKED: The Best Golfers On Wall Street
Spring and then summer will be here before we know it and that means Wall Streeters will start heading out to the golf course after work and on the weekends. So that got us thinking. Which bankers and hedge fund managers are the best on the fairway? We combed through the latest handicap data of some of the...
businessinsider.com (2 months ago) read full article at businessinsider.com
REPORT: Former Chief Of Gigantic California Pension Has Been Indicted In A Bribery Case
Former head of CalPERS Fred Buenrostro has been indicted in a criminal bribery case, according Sacramento Bee's Dale Kasler. According to the report, Buenrostro was charged with conspiracy to commit fraud, conspiracy to obstruct justice and making false statements to the feds. Former CalPERS board member Alfred...
businessinsider.com (2 months and 1 day ago) read full article at businessinsider.com
Photos From Inside Lloyd Blankfein's Son's Beautiful Miami Wedding
Goldman Sachs CEO Lloyd Blankfein was at a wedding this weekend in Miami. Blankfein's eldest son Alex, 27, got married to fellow Harvard MBA classmate Cristina Ros, 26, according to the New York Times. Congrats to them! Alex is expected to start as a consultant at Bain & Company in September. DealBook's...
businessinsider.com (2 months and 1 day ago) read full article at businessinsider.com
The Spectacular Rise, Fall, And Sudden Return Of Erin Callan
Former Lehman Brothers chief financial officer Erin Callan disappeared from the public eye after the bank's demise in 2008. Now she's living a much quieter life in Florida with her new husband. However, she's returned to the spotlight to weigh in on the work/life balance debate reignited by the release of Facebook...
businessinsider.com (2 months and 1 day ago) read full article at businessinsider.com
ERIN CALLAN: I Want To Be A Cautionary Tale — Don't 'Lean In' The Way I Did
Former Lehman Brothers CFO Erin Callan, who was one of the most powerful women on Wall Street, pretty much disappeared from the public eye after the bank's demise. She resurfaced again this week with a really gutsy op-ed in the New York Times about the big work/life balance debate that has been reignited following...
businessinsider.com (2 months and 4 days ago) read full article at businessinsider.com
New $2.6 Billion Financial Center Will Make Wall Street Look Pathetic
Turkey wants to make its economy one of the top 10 largest by 2023. To achieve that goal, it's going to build a brand new financial center in Istanbul. Architecture firm HOK has just unveiled the master plan it developed for the Istanbul International Financial Center (IIFC). The renderings for the $2.6 billion...
businessinsider.com (2 months and 4 days ago) read full article at businessinsider.com
An Adorable 11-Year-Old Girl Trader Is Bullish On Honda — Because Of Robots
An adorable 5th grade student stock picker Rachel Kelly was on CNBC moments ago talking about her big investment idea—Honda Motor. Kelly, 11, learned on "Squawk On The Street" that her Honda stock pick won a national contest for students put on by educational non-profit SIMFA. She beat more than 20,000 other kids. ...
businessinsider.com (2 months and 4 days ago) read full article at businessinsider.com
10 Elite Prep Schools That Have Produced Wall Street's Biggest Names
We recently did a report on where some of Wall Street's top hedge fund managers went to college. While there's a belief that in order to get a Wall Street job you need to graduate from an Ivy League with a 3.5 GPA, we learned that a bunch of the most successful hedge funders went to non-Ivy League schools. So we...
businessinsider.com (2 months and 4 days ago) read full article at businessinsider.com
Former Lehman CFO: I 'Leaned In' Far And Lived An Amazing Life
Former Lehman Brothers CFO Erin Callan, who was once one of the most powerful women on Wall Street, pretty much disappeared after the demise of the investment bank. She's back though. Tonight, Callan will be featured on "Rock Center With Brian Williams" in an interview/full profile with Ann Curry. Earlier this...
businessinsider.com (2 months and 4 days ago) read full article at businessinsider.com
JPMorgan Execs Will Get Grilled Today After Brutal Senate Report That Said The Bank Was...
A bunch of current and former JPMorgan Chase executives will head to Capital Hill this morning for a senate hearing on the "London Whale" trade that caused the bank to lose billions last year. The witnesses at today's hearing include Ina Drew, the former Chief Investment Officer; Ashley Bacon, the current Chief...
businessinsider.com (2 months and 4 days ago) read full article at businessinsider.com
LONDON WHALE TRADER: 'It Is Hopeless Now... We Are Dead I Tell You... I Am Going To Be Hauled...
A trove of trader instant messages (IMs) and conversations from JP Morgan's CIO office are being made public. This afternoon, the Senate Permanent Subcommittee on Investigations released a massive 300-page report slamming JPMorgan claiming the bank mislead investors and regulators over the "London Whale" trade. The...
businessinsider.com (2 months and 5 days ago) read full article at businessinsider.com
Rand Paul Slammed Wall Street At CPAC
This afternoon, Rand Paul took the stage at CPAC, the annual conservative political convention, and he had nothing nice to say about Wall Street. Check out this tweet from Politico reporter, Alex Burns: Paul is just lending his voice to an idea that's picking up traction in the Republican party — letting Wall Street...
businessinsider.com (2 months and 5 days ago) read full article at businessinsider.com
