If you would have been following the markets around the globe specially, The Wall Street Investment banks are struggling third-quarter earnings season following a drop in mortgage refinancing and a downturn in trading. How well do you know the big banks? Test yourself by matching the financial giant to the quote about their earnings reports.
I provide you the answers here you need to find the correct one : The financial firms are JPMorgan Chase, Wells Fargo, Citigroup, Bank of America, BlackRock, Goldman Sachs and Morgan Stanley. Continue reading “Take the Wall Street Earning Quiz :)”
It all started with a little tool called Twitter and a 140-character rule. Here’s a brief history of how the start-up became a $317 million business.
“We’ve confidentially submitted an S-1 to the SEC for a planned IPO. This Tweet does not constitute an offer of any securities for sale.”
It’s the first app I launch in the morning, and the first I install on a new phone, and my most-visited web site. Which is strange, because I don’t much like most social media? I’m on Facebook only reluctantly; 90% of my posts there are automatic reposts from my tweet stream. I want to like Google+, but I keep failing. Twitter, though, is the hub of my online life.
Twitter’s IPO filing is ready, and the company intends to make it public this week, it may seem as though Twitter got things started on Sept. 12, when the company tweeted it had “confidentially submitted an S-1 to the SEC for a planned IPO.” But Twitter had actually made that submission about two months earlier, in July. The September announcement wasn’t required by law, but a source says Twitter intended to get out ahead of any press leaks and avoid frenzy later on by simply making a public filing with no warning. Continue reading “Twitter IPO all set”
Recalling Felix salmon review on The lessons of “Margin Call” : I don’t believe that Wall Street is meaningfully improving the lives of the 1%, except insofar as Wall Streeters are the 1%. (Remember that financial professionals make up only 14% of the top 1%, and 18% of the top 0.1%. They’re a large chunk, but by no means the majority.)… I suspect that the top 1%, if anything, are responsible for a disproportionate share of Wall Street’s income. Wall Street isn’t picking the pockets of the 99% and giving the proceeds to the 1%: it’s picking the pockets of the 1% and giving the proceeds to itself. And Wall Street is taking a whole bunch of money from the 99%, too. But for the 86% of the top 1% who don’t work in finance, I really don’t believe for a minute that Wall Street is helping them out by giving them the hard-earned money of the 99%. Continue reading “Margin call and the Lessons:”
Recently Michael Lewis was in news as he wrote a compelling piece on Serge Aleynikov, the former Goldman Sachs computer programmer convicted of stealing the bank’s secret algorithms, in the Vanity fair. Where he shared one of the famous line from his book Big short There’s a line in The Big Short; one of the characters, who was cynical about the subprime-mortgage market, says,
“When I hear Chinese Wall, I think you’re a f—ing liar.” I feel that way about liquidity. When I hear the word liquidity, I think you’re a f—ing liar. If this is liquidity, we don’t need it.
The book is a fabulous read because of its simplicity. It’s not just for finance geeks, rather the stuff narrated by Michael lewis is easy to digest. Although I still believe Liar’s Poker was one of the best work by Michael, but the Big- short seems to me is one of the best journalism written on the sub prime crisis.
Continue reading “Worth Reading, The Big Short by Michael Lewis”