allegedly!!! I live in the same town where martha has her house on the east end of Long Island and they hate her out here.....once a few years ago she ran over the neighbors help pulling out of her driveway and then threatened to sue him for trespassing.
"traders" these guys ? Just well paid shoes sellers that what they are paid for: selling shoes to institutions to pump out the public money.
Goldman bought SLK for a lot of money when things were going OK. Looking back it looks like they overpaid. Then they tryed to integrate the traders from SLK into Goldman which from what I heard was not a very good combination of corporate cultures. At the same time the market was crapping out. So of course they start slashing SLK traders going from something like 500 down to 40. I guess recently they slashed some more from that 40 that were remaining.
Makes you wonder if these investment banks/brokerage houses even have a clue of what they are doing. Who knows. I work at UBS at nights and even though this one of the more humane and better performing IBs, even here the top management has absolutely no clue.
What do you do at UBS? I always thought it was funny when these firms who makes millions off of advising M&A deals botch the timing of their own deals and pay the top of the market.
No, in order to get Fidelity's business, the equity desks take the other side of their trades and get whacked in the process. It's all about volume.
Don't these trading desks buy something else paired to what they are now short or vice versa. I had heard, probably on this board, that pairs trading was morgan stanleys main trading strategy across all markets.