Schadenfreude Pick of the Week: Lawyer Layoffs in NYC

[vodpod id=Groupvideo.2681542&w=425&h=350&fv=] OK guys, here’s your Schadenfreude Pick of the Week… From the New York Times: Now Mr. Verrier, who had worked exclusively at the century-old firm since leaving Harvard Law School in 1982, sat in his office high above 44th Street and Avenue of the Americas, considering the e-mail message he was about to…

Hot Links: Black Swans, DJs, CEOs, Rogers and Kass

Hot Links for Weekend Reading Let’s kick it off with a Think Piece from Johnny Debacle of Long or Short Capital.  Johnny asks the question “Why be a JD (Juris Doctor) when you could be a DJ (Disc Jockey)?” I got two from The Business Insider this week…first, a slideshow of the Worst CEOs Ever,…

What's that, Lassie? Vikram Pandit's in Danger? Again?

Everyone’s got their “Sheila Bair of the FDIC wants Citigroup’s Vikram Pandit Fired” thing up on their sites today.  I beg to differ with most…Vikram Pandit Will Survive: ______________________________________________________ From the archives: February 26th 2009 [youtube=http://www.youtube.com/watch?v=ZBR2G-iI3-I] At first I was afraid I was petrified Kept thinking they would never let Our credit ratings slide but…

Market Recap: Goodbye Grasshopper

[youtube=http://www.youtube.com/watch?v=5E0WHDMrL_U] The Reformed Broker, AKA Beatrix Kiddo, here with today’s Market Recap… Yet another meltup today as the banks led the charge.  James Cramer of TheStreet.com believes that Bank of America (BAC) is the most important tell in this market right now because of it’s mortgage exposure, mutual fund manager attraction and all of their…

Dimon, Lewis and Mack Save the Rec Center

[youtube=http://www.youtube.com/watch?v=pspmBbbOHh8] Watching the big banks’ money-raising efforts come to fruition over the last several weeks, one cannot help but think of the happy endings of several 80’s movies that made a deep impression on me in my formative years. Breakin’ 2: Electric Boogaloo comes to mind.  Never mind that the film was robbed of an…

Market Recap: China Plays Peter Out

[vodpod id=Groupvideo.2654635&w=425&h=350&fv=]  The Reformed Broker, AKA Sweet Georgia Brown, here with today’s Market Recap…  Well we certainly couldn’t go up every day, guys! The pain was everywhere with the Dow off around 100, but it was felt the most in the inflation/ weak dollar/ China export sectors.  Here’s the chalk outline at the 3:30 look: Worst…

Droppin' Knowledge: Tudor Can't Forgive Himself

“If trading is like chess, then macro is like three-dimensional chess. It is just hard to find a great macro trader.” Paul Tudor Jones, May 2008 There’s a great interview up on Institutional Investor with Paul Tudor Jones, one of the biggest and most successful hedge fund managers in the business.  It’s a bit dated (from…

Blue Horseshoe Worries About "Wall Street" Sequel

I just read some of the preliminary details on the upcoming Wall Street sequel from Oliver Stone over on Dealbreaker and I’m physically incapable of not chiming in on this one. I’ll quote Gordon Gecko himself to let you know how I feel about a sequel to the greatest movie about business ever made: “Mixed…

Market Recap: Build-a-Bank

[youtube=http://www.youtube.com/watch?v=egT8-06AcSY] The Reformed Broker, AKA The Pastrami King, here with today’s Market Recap… OK stocks and sectors, take one step forward if you were lookin’ good during today’s market melt-up… Not so fast, Newspapers! The 3:30 look at the Newspaper Sector: Laggards in Price Performance (Intraday) E W SCRIPPS CL A [ssp] -9.46% A.H. BELO…

King Obama and his Feudal Lords

I try to avoid being overtly political here on TRB, but something foul is afoot in our capital markets that needs to be addressed. The treatment of institutional and hedge fund bondholders in both the Chrysler and General Motors situation has one very apropos historical parallel that comes to mind, the Anglo-Norman invasion and conquest…