Posts Tagged ‘Forbes’

Forbes: Lehman and Meritocracy

Forbes: Lehman and Meritocracy

Courtesy of Andy Kessler, posted at Andy’s blog & Forbes

Forbes_home_logo 

Part of the charm of Wall Street, and what scares most reasonable people away, is that it is as close to a meritocracy as exists on this earth. It’s dog eat dog. It’s sink or swim. You do a trade and it makes money, then you’re a hero (for a moment anyway) and deserve a bonus. You bring in a deal, you get paid. You lasso more clients’ assets under your firm’s roof, you’re a hitter. I once discovered some good news on the stocks I followed before the rest of the Street, and mentioned it to the sales force at a morning meeting and moved markets in New York, Tokyo and London. I had the head of global equities pat my head on the elevator ride up the next morning. Pat my head! I was told he never does that.

meritocracyThe flip side, of course, is what makes Wall Street so dangerous. You lose money for the firm and you’re a heel. Do it again and you don’t get paid that year. Do it a third time and you’re out of a job. Just like that. Gone. I’ve seen it happen to friends and acquaintances at just about every firm up and down Wall Street. There is no tenure on Wall Street, no job security, no long-term guarantees. Ten- and 20-year careers end in a flash. Happens all the time, and everybody who works in the business knows this.

That’s one reason why everyone is paid so well. Think of it as combat pay. But the other reason compensation is many, many multiples of the average wage in this country is that trading stocks, doing IPOs, merging companies, managing money is a very lucrative business. Not everyone can do it. It looks easy, football-field-sized trading rooms jammed with adrenalin-rush maniacs sitting in front of huge LCD screens. It might as well be a call center in Mumbai. But it’s hard. Really nasty hard. Wall Street hires in that 99 percentile zone. And then they make your life miserable hoping you’ll quit before they break you. Or hoping they break you before you lose money for the firm. It’s not WalMart or General Motors or even Pfizer or Intel. It’s trial by fire.

You


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Zero Hedge

China Quarantines City Of 11 Million As Hong Kong Confirms Second Case Of Coronavirus

Courtesy of ZeroHedge View original post here.

Update 6 (1530ET): Hong Kong has reportedly confirmed a second case of coronavirus.

Hong Kong authorities report a second confirmed case of coronavirus. RTHK

— FXHedge (@Fxhedgers) January 22, 2020

More details to come...

* * *

Update 5 (1500ET): After praising all of China's efforts to contain the outbreak, the WHO Director General an...



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The Technical Traders

TRADING STRATEGIES FOR GDXJ, SPY, BONDS, AND NATURAL GAS

Courtesy of Technical Traders

Chris Vermeulen joins me today to shares his trading strategy for 4 different markets. While most of these markets are not correlated he has reasons for why he is long in each. Pick and choose where you want to deploy your capital.

Get Chris’ Trade Signals Today – Click Here

...

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Phil's Favorites

Three Things You Can Learn This Week

 

Three Things You Can Learn This Week

Courtesy of 

Three weeks into January and the squad is firing on all cylinders. Three things you can learn this week courtesy of Nick, Michael and Ben:

You will often hear that there is something wrong or artificial about the current secular bull market because of the relatively high concentration of the FAAMG stocks – Facebook, Apple, Amazon, Microsoft and Google. Three of the five have attained trillion dollar market caps and the other two are getting cl...



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Insider Scoop

Benzinga Pro's Top 5 Stocks To Watch For Wed., Jan. 22, 2020: NFLX, TSLA, NNVC, SKT, SPCE

Courtesy of Benzinga

Benzinga Pro's Stocks To Watch For Wednesday

  • Netflix (NFLX) - Shares were up just 0.4% following a Q4 beat and mixed Q1 guidance. The company said it expects Q1 global streaming paid net subscriber additions of about 7 million subs.
  • Tesla (TSLA) - With Tesla shares up 5% in pre-market activity, the company's market cap, at market open, will hit $100 billion for the first time in its history. While a Neutral-rated Wedbush analyst, Daniel Ives, raised his price target on the stock from $370 to $550 this morning, this news item isn't necessarily driving the stock Wednesday as this analyst was mostly playing catch up after not having updated his price targ...


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Kimble Charting Solutions

Hang Seng Index Double Topping At 2007 Highs?

Courtesy of Chris Kimble

Could the Hang Seng Index be “Double Topping” at its 2007 highs? Possible, yet not proven!

The Hang Seng Index attempted to break above its 2007 highs at (1), only to see a key reversal pattern take place the following month.

After the reversal pattern, the index has created a series of lower highs, just below falling resistance.

So far this month, the index is attempting to break above falling resistance, where it could be created a bearish reversal monthly pattern at (2).

What would it take to prove that a double top was i...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Monday, 16 September 2019, 05:22:48 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: This chart says SP500 should go back to 2016 levels (overshoot will occur of course)



Date Found: Tuesday, 17 September 2019, 01:53:30 AM

Click for popup. Clear your browser cache if image is not showing.


Comment: This would be HUGE...got gold!


...

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Members' Corner

The War on All Fact People

 

David Brin shares an excerpt from his new book on the relentless war against democracy and how we can fight back. You can also read the first, second and final chapters of Polemical Judo at David's blog Contrary Brin.

The War on All Fact People 

Excerpted from David Brin's new book, the beginning of chapter 5, Polemical Judo: Memes...



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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Digital Currencies

Cryptos Have Surged Since Soleimani Death, Bitcoin Tops $8,000

Courtesy of ZeroHedge View original post here.

Bitcoin is up over 15% since the assassination of Iran General Soleimani...

Source: Bloomberg

...topping $8,000 for the first time since before Thanksgiving...

Source: Bloomberg

Testing its key 100-day moving-average for the first time since October...

...



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Biotech

Why telling people with diabetes to use Walmart insulin can be dangerous advice

Reminder: We are available to chat with Members, comments are found below each post.

 

Why telling people with diabetes to use Walmart insulin can be dangerous advice

A vial of insulin. Prices for the drug, crucial for those with diabetes, have soared in recent years. Oleksandr Nagaiets/Shutterstock.com

Courtesy of Jeffrey Bennett, Vanderbilt University

About 7.4 million people ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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