With firms like Goldman Sachs and Morgan Stanley reporting weak results, Wall Street’s moneymakers are doubting they will ever get back to their high-rolling ways.
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DealBook: New Normal on Wall Street: Smaller and Restrained
With firms like Goldman Sachs and Morgan Stanley reporting weak results, Wall Street’s moneymakers are doubting they will ever get back to their high-rolling ways.
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DealBook: New Normal on Wall Street: Smaller and Restrained
Credit Suisse announces plans to cut another 1,500 jobs from its global workforce of 50,700 after reporting disappointing results.
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Credit Suisse to cut 1,500 jobs
They arrive every week, in ones and twos and groups of 10, some of them coming straight from Sao Paulo, Brazil’s international airport. These investors head for the dark-wood halls of Credit Suisse Hedging-Griffo as supplicants, asking to put their millions into one of the world’s top-performing hedge funds. The answer from the fund’s managers is often a polite but firm no. Hedging-Griffo’s Verde fund has returned an annualized average of 33 percent since 1997. One American offered to sign a contract that wouldn’t allow him to ask for his cash back for three years, says Luiz Paulo Parreiras, strategist for the firm. Read full article > >
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Brazilian hedge funds trounce competition
Gordon Murray, a former managing director at Lehman and Credit Suisse First Boston, has brain cancer and a desire to show people a better way to invest.
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Your Money: A Dying Banker’s Last Financial Instructions
