They trade with hundreds of brokerages, obviously all of the big banks and many specialty shops so that they can get access to their analysts/research. A great deal of their trading is electronic now, lots algorithm and dark pool executions.
Excellent point. And if unemployment soars figure that will depress the pool of new money coming in too. There is no denying the market will take an enormous time to recover. Add in a threat of deflation on top of that and you won't see any money going back into the market anytime soon.
I have to edit my $70 TRILLION CDS number. That includes "both" parties. Thus, the real number is half that. $35 Trillion as of Oct. 9th http://www.elitetrader.com/vb/showthread.php?threadid=141334
We have an internal estimate at my fund as we trade with all of the top dealers. The firm estimate is > 100 trillion USD worldwide. Cheers.
Mulhern used to say "everyone who ever partnered with Izzy ended up driving a taxi." Is that a form of risk management?
I read in Alpha that SEC was going from technical to primarily fundamental. Reading between the lines, Cohen is saying that his fund has gotten too big for his in and out style, and now he has to become an old school pool that accumulates at the end of bears and distributes at the end of bulls. It's amazing how this game hasn't really changed in over 100 years.
So (god forbid - mutual fund managers everywhere getting chills up their spine) waiting for the bottom to jump in and go long. Rockefeller supposedly did it. Could that be the next strategy?
http://current.com/items/89438365_wall_street_destroying_companies_1 Go to the four minute mark, and you'll find 'the secret' to 40% returns.