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How one top tech executive swapped cleaning toilets for a job at Goldman Sachs
Goldman Sachs executive R. Martin Chavez, known as Marty, says he was cleaning toilets in a monastery in northern New Mexico when God told him to take a job at the bank."I went there,"Chavez told Kara...
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The secret to a dealmaking giant's success is an old school flip phone
One of the biggest names in mergers and acquisitions has used the same Samsung flip phone for more than a decade.Paul J. Taubman, who runs PJT Partners, told Bloomberg's Sonali Basak that he has stuck...
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Hedge funds are exploiting the shortcomings of Wall Street's trendiest...
When the value of some exchange-traded funds fell more than the indices they were tracking in August, a group of hedge funders saw an affirmation — that ETFs are vulnerable."It’s almost like 'I told...
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Inside Steve Cohen's groundbreaking 'Academy' poaching young talent from Wall...
One Monday afternoon in New York last month, students wrapped up a statistics exam and scarfed down some takeout before heading over to a macroeconomics class.For some, the exam had been an easy...
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Fund managers everywhere are getting crushed
It isn't just high-profile hedge funds that have been getting crushed these past few months. Mutual funds have been getting hammered too.According to a US equity strategy note out from JPMorgan, 67% of...
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Morgan Stanley just promoted a star trader to a huge role
Morgan Stanley has promoted a star trader to run fixed income as well as equities. Edward Pick, who ran the bank's equities arm, has been named global head of sales and trading, according to an...
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A big investment-banking business is a horror show, and traders are trying to...
Investment banks have had a horror show in one of their biggest business lines.Credit-trading desks, which sit inside fixed-income units, have had a terrible run this year. Revenues are down, bonus...
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10 things you can tell about a Wall Streeter by looking at them on the...
The movie based on Michael Lewis' best-selling book "The Big Short" will be coming out in December.The official trailer was recently released, and we can hardly wait to see some of Hollywood's biggest...
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Some of the biggest investors in the business just endorsed the trading hero...
IEX Group, the stock-trading venue at the center of Michael Lewis' book "Flash Boys," has just received the backing of a slew of big-name investors.The trading venue, led by Brad Katsuyama, uses a...
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Credit Suisse just hired a rising star to advise its CEO on strategy (cs)
Credit Suisse's new CEO, Tidjane Thiam, has hired an investment banker as a senior adviser ahead of an expected restructuring of the bank.Adam Gishen, who was most recently a partner at the City of...
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The 11 best colleges for a job on Wall Street
Ever wonder where Wall Streeters come from?It turns out that many of them — at least the ones based in New York City — went into finance from one of 11 schools.That's according to Emolument, a salary...
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WALL STREET PAYDAY: Banks could reap up to $700 million from the Dell-EMC deal
Dell has struck a deal to buy IT giant EMC for about $67 billion, making it one of the biggest tech mergers in history.That means one thing for Wall Street — payday!Morgan Stanley was the lead...
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The World's 50 Best Bars list is out — and Wall Street's favorite pub nabbed...
For the fourth year running, London's Artesian maintained its No. 1 status on the World's 50 Best Bars list.Organized by Drinks International magazine, the global bar awards ceremony is now in its...
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Online lending is becoming huge thanks to a practice blamed for the financial...
Online lending is already big, but the inflow of funds from large investors into the sector could make it huge.The money is coming in two ways: investment in the startups, and the securitization of...
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Dell is taking on a mammoth $50 billion in debt — and Wall Street's OK with that
Dell is potentially taking on an eye-popping $50 billion in debt to acquire EMC.According to ratings agency Moody's, that could be a good thing.Moody’s credit-rating arm placed about $11.5 billion in...
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REPORT: Barclays has a new CEO — and big changes could be coming
Barclays is reportedly getting a new CEO.Ex-JPMorgan investment banker James (Jes) Staley is set to take over as chief executive, the Financial Times reports.The news of Staley's appointment is...
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How the biggest tech deal in history came together (EMC, DELL)
Dell announced Monday that it would buy IT giant EMC in the biggest-ever technology deal.The $67 billion deal will create one of the largest private companies in the world.Although talks between the...
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New York fintech startup nets funding for international expansion (ORCL)
Mobile banking startup Moven has raised $12 million from a group of venture investors, according to a person familiar with the matter. The round was led by Route 66 Ventures, according to the person....
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JPMorgan has become Wall Street's top training ground for C-suite executives...
JPMorgan seems to have become the preeminent breeding ground for C-suite executives.Jamie Dimon has been in charge at the bank since before the financial crisis, and the CEO clearly likes his job.That...
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These are the 4 factors that will shape bank earnings season (GS, MS, BAC, C,...
Third quarter earnings are on the way and big banks will lead off a season that is being approached with outright dread in some corners of the market. With prospects dimming that the Federal Reserve...
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