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MEREDITH WHITNEY: Any Seat In Citi's Court Should Come With A Warning Label
Bank analyst Meredith Whitney, the CEO of Whitney Advisory Group, weighed in on the Citigroup shake up today in a note to clients. Here's Whitney's take via the Wall Street Journal's Stephen Grocer:...
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And Now Here's Vikram Pandit's Side Of The Story About Him Leaving Citi
Everyone on Wall Street was stunned today at the news that Vikram Pandit was resigning as CEO of Citigroup effective immediately. President and COO John P. Havens also stepped down. Michael Corbat, a...
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Citigroup's New CEO Says He Feels 'Well-Prepared' For The Job
Everyone on Wall Street was absolutely stunned today when Vikram Pandit dropped the bombshell news that he was resigning as CEO of Citigroup effective immediately. President and COO John P. Havens...
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CHART: Those Lousy Europeans Just Cancelled The Ad Biz's Entire Year (OMC)
Omnicom's Q3 2012 revenues grew only 0.8% to $3.4 billion — pretty feeble, for the holding company that owns ad agencies such as BBDO, TBWA, and DDB. Investors didn't like that news, and the stock...
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Bank Of America Breaks Even (BAC)
Charlotte, North Carolina-based Bank of America, the second largest U.S. bank, announced third-quarter earnings moments ago. BofA delivered a $340 million third-quarter profit, or $0.00 per diluted...
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Bank Of America Axed 2,866 Employees Last Quarter
Charlotte, North Carolina-based Bank of America revealed that it cut more than 2,800 employees in the third quarter and more than 16,000 employees over the last year. From the third-quarter earnings...
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What The Heck Is A Dark Pool And Why Are People Trading In Them?
Last week, dozens of stock prices experienced violent swings because of strange trading activity that had people all over Wall Street scratching their heads. And while the investing public doesn't...
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John Mack: 'Unbelievably Generous' Wall Street Compensation Will Have To Come...
Today on Bloomberg TV's "Market Makers" co-anchor Stephanie Ruhle asked Wall Street legend John Mack if he thought there should be celebration of many of the one-percent living the American dream....
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How Robots Manipulate Natural Gas Prices
In the past few months, predatory high frequency trading (HFT) tactics have targeted natural gas so hard, that traditional traders are abandoning the trade entirely, says the Wall Street Journal. And...
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48 Hours In The Life Of A Wall Street Sales And Trading Intern
The following takes place between 6 AM and 6 AM, at a large investment bank in Tokyo.Events occur in real time. 6:00 AM: The alarm goes off. I really want to snooze but via sheer willpower I jump out...
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The New Citigroup CEO's Fat Torching Workout Routine
Yesterday Vikram Pandit dropped a major bombshell that he was resigning as CEO of Citigroup effective immediately. Michael Corbat, a former Harvard football player who previously headed Citi's...
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Morgan Stanley's Earnings Announcement Is Noisy, But Looks Better Than...
Investment banking giant Morgan Stanley just announced its Q3 financial results. The bank earned $562 million or $0.28 per share from continuing operations excluding debt valuation adjustment (DVA)....
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Why Investment Bankers Work So Much
“Why do you work so much in investment banking?” “If you work so much, can’t they just hire twice as many people?” “How much of your time do you even spend working?” It’s something I’ve been asked at...
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James Gorman Was Not Joking About Shrinking Compensation
Since the business of Wall Street has changed so much since new regulation has hit some of the industry's revenue streams, some (but few) leaders on the street have told bankers to expect a change in...
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Now We Know What Happened In That Las Vegas Hot Tub With Greg Smith
Politico's MJ Lee has obtained a copy of the tell-all book of Greg Smith, the former Goldman vice president who resigned publicly via a scathing op-ed in the New York Times that lambasted the bank's...
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How To Skip Investment Banking And Head Straight To The Buy-Side From Someone...
Most of my friends are going into banking. Not because pitch books and road shows are their thing, of course, but it opens a lot of doors. 100 hour work weeks, camaraderie in the form of all-nighters...
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FORMER GOLDMAN BANKER: Here's What Greg Smith Gets Right, And Wrong About...
With the impending release of Greg Smith’s tell-all book about his time at Goldman Sachs, it’s finally time for me to vent a little about his ridiculous New York Times Op-Ed last Spring. Immediately...
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It's The Last Day For Open-Outcry Trading In The Intercontinental Exchange...
An era is coming to an end. Today is the last day of open-outcry trading in the Intercontinental Exchange (ICE)-owned pits in lower Manhattan where commodities such as cotton, coffee, cocoa, sugar and...
View ArticleHere's The First Ever Video Of Greg Smith, Author Of The New Goldman Tell-All
Greg Smith, the former Goldman vice president who resigned from the bank publicly via a scathing op-ed in the New York Times, is going to be on CBS's "60 Minutes" this Sunday ahead of his tell-all...
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The Time And Day Every Investment Banker Dreads
Surprisingly, investment banking is not always about killing yourself at all times of the day and night and suffering without remorse all in search of those elusive investment banking salaries....
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