DIRS.INFO The most relevant business & tech news

☆ DOGE wants to 'delete' entire federal agencies, Vivek Ramaswamy says
▼ + stars: | 2024-11-18 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +2 min

AdvertisementVivek Ramaswamy, cohead of DOGE, said he expects to recommend the wholesale closure of some agencies. Vivek Ramaswamy said to expect the abolishment of entire federal agencies as part of a sweeping restructure envisioned by DOGE. AdvertisementOn Sunday morning, Ramaswamy appeared on Fox News and was asked about DOGE's plans for the future of federal agencies. Maria Bartiromo, the Fox host interviewing Ramaswamy, mentioned the Department of Education as a possible cut, but Ramaswamy instead answered in general terms. Eliminating federal agencies could be a hard ask though.

Persons: Vivek Ramaswamy, cohead, Ramaswamy, Elon Musk, Trump, Donald Trump, Maria Bartiromo, Jack Newsham Organizations: Department of, President, Fox News, of Education, Fox, Republican, Congress, Nuclear Regulatory Commission, FBI

☆ This new Goldman Sachs partner is leading the bank's strategy with young heirs and founders
▼ + stars: | 2024-11-15 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Goldman Sachs named 95 partners last week, including private wealth exec Brittany Boals Moeller. AdvertisementBrittany Boals Moeller, one of Goldman Sachs' newly minted partners, didn't picture a career in finance when she joined the bank 17 years ago. The 39-year-old is based in Atlanta and runs the Southeast region of Goldman Sach's private wealth division. While wealth management clients skew older, the division has a pipeline of rich millennial founders who work with the investment banking arm. Goldman Sachs' family office offering, Apex, launched a few years later.

Persons: Goldman Sachs, Brittany Boals Moeller, —, I've, Goldman, Boals Moeller, John Mallory, Tucker York, Ciara, Marc, Kwesi Farrell, John Paul DeJoria, Michelle Hynik, It's Organizations: Service, New York University, Goldman, Catering, Utah Royals, Advisors Locations: Jonesboro , Arkansas, Atlanta, Apex, Deer Valley, Copenhagen, Deer

☆ How 9 newly minted Goldman Sachs partners celebrated their big day, from shouting across the trading floor to popping Champagne in the office
▼ + stars: | 2024-11-12 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +15 min

Goldman Sachs is a leading investment bank for corporate dealmaking and trading, and its partners represent less than 1% of roughly 46,000 employees. On average, Goldman's newest partners have spent 16 years rising in the ranks, the bank said last week. "It's like a wedding and birthday wrapped up in one amazing moment that you keep reliving," one new partner said. Here's a glimpse inside the big day of nine of Wall Street's up-and-coming executives, including what they did to mark the occasion. Related storiesI happened to be stepping into a meeting with the Arthur Miller Foundation — an amazing nonprofit that supports theater teachers in schools across NYC and beyond — just as John called.

Persons: Goldman Sachs, David Solomon, —, revel, John Waldron, Wall, Rob Barlick, Robert Barlick, Goldman Sachs David, It's, that's, Lyla Bibi, Bibi Goldman Sachs, Bracha Cohen, Marco Argenti, I've, Matt Doherty, Matt Doherty Goldman Sachs, David, Kristin Olsen, Marc Nachmann, Shane Lee, Vishaal Rana, Goldman Sachs David Solomon, Aaron Siegel, Aaron Siegel Goldman Sachs, Hayley, Arthur Miller, John, –, Craig Smart, Craig Smart Goldman Sachs, Kristin, Marshall Smith, Sylvia Yeh, Sylvia Yeh Goldman Sachs, Reed Alexander Organizations: Partners, Service, Valley Bank, GS, Goldman Sachs Asset Management, Arthur Miller Foundation, Goldman Locations: Valley, Florida, America, New York, New York City, —, Goldman Sachs

☆ Apple's latest coffee table book is aimed at music lovers and costs $450
▼ + stars: | 2024-11-12 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Apple Music has released a $450 coffee table book of its top 100 albums list. AdvertisementApple has turned its top 100 albums list into a coffee table book, and it's selling a limited batch for $450 each. When Apple Music released its ranking of the best albums of all time in May, it sparked debate among music fans. According to the site, the estimated shipping date for the new Apple Music book is January. This department includes subscription-based services like Apple Music, and its sales have boomed in recent quarters.

Persons: Apple, Assouline, —, Zane Lowe, Lowe, Roger Federer, Barbie, Jony Organizations: Apple, Service, Apple Music, Assouline, Business, eBay, Apple's Services Locations: New York, California

☆ A top mind at JPMorgan Asset Management warns of clear economic red flag after Trump's big win, despite soaring US stocks
▼ + stars: | 2024-11-07 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

US stocks had one of their best days in years and hit new records after Trump's resounding win over Kamala Harris in Tuesday's election. Both of those moves make sense, said David Kelly, the global strategy chief at JPMorgan Asset Management, in an interview on Wednesday. AdvertisementThe strategy chief has been adamant that higher tariffs — one of Trump's key proposals — would cripple the US economy and endanger the global economic expansion. Related storiesMost economists condemn tariffs, which are taxes on imports, because they tend to lead to higher prices and lower economic growth. Sean Gallagher, the global head of Lazard's small-cap equity platform, made a similar point in a recent interview with Business Insider when asked about Trump's tariffs and Kelly's stance.

Persons: Stocks, Donald Trump, David Kelly, Wall, he's, —, Donald Trump's, Trump's, Kamala Harris, Kelly, Trump, Mahatma Gandhi, I'm, I've, Tom Orlik, who's, Chris Murphy, Susquehanna's, Orlik, Sean Gallagher, Gallagher, maven, He's, inflation's Organizations: House . Market, Service, Nasdaq, US, JPMorgan Asset Management, Republican, JPMAM, Bloomberg Economics, Business, Trump Locations: Tuesday's

☆ The economy is a priority for Americans as they head to the polls. Here's what's really going on behind the numbers.
▼ + stars: | 2024-10-24 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

But there are some weak points — like a growing federal debt load. There are a few less-rosy data points out there, like rising long-term unemployment and a historically high level of federal debt. Federal debt is high compared to GDP, even looking beyond the spike of the debt as a share of GDP during the pandemic. While federal debt as a share of GDP was slightly above 100% before the pandemic, recent figures are much higher than in the past. Federal debt was 120% of GDP in the second quarter of this year.

Persons: —, Kamala Harris, Donald Trump, Mark Hamrick, Kurt Reiman, Reiman, They're, aren't, Hamrick, There's, Biden Organizations: Service, The New York Times, Siena College, Pew Research, Associated Press, NORC, for Public Affairs Research, University of Michigan's, Consumers, UBS Global Wealth Management, Federal Reserve, MarketWatch Locations: America, Wells Fargo

☆ How Blackstone made 18,000 workers owners of their HVAC company
▼ + stars: | 2024-10-17 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +11 min

Earlier this year, Blackstone rolled out an ownership plan for employees of HVAC company Copeland. The newest rage in private equity seeks to flip that model on its head by offering employees equity on top of their regular salaries. Success in private equity is often evaluated by how much money a deal generates compared to the initial investment. Joe Baratta, global head of private equity at Blackstone BlackstoneAcross the industry, high interest rates have squeezed returns and exit opportunities. KKR's global cohead of private equity, Pete Stavros, also helped found the nonprofit Organizing Works to encourage the adoption of this model across the private equity industry and beyond.

Persons: Blackstone, Copeland, Here's, —, Ross Shuster, Shuster, Stuart Dalgleish, Joe Baratta, Dalgleish, we've, Copeland's Shuster, outsized, Pete Stavros, KKR's Stavros, NPR's, Ted, Stavros, Josh Ryan, Leonard Green, Axel Springer Organizations: Service, Business, Blackstone, Emerson Climate Technology, Blackstone ., BI, Human, Emerson Electric, Employees, Merlin Entertainment, Blackstone Blackstone, KKR, CHI, NPR, GeoStabilization, Leonard Green & Partners Locations: New York City, Manhattan

☆ A quant research leader from Two Sigma's vaunted 'techniques' squad is leaving for Cubist
▼ + stars: | 2024-10-16 | by ( Alex Morrell | ) www.businessinsider.com time to read: +4 min

A senior Two Sigma quant researcher is leaving for Cubist. Kan Huang co-led a key machine-learning unit known as techniques forecasting. Jin Choi, Huang's interim cohead, has been named sole head of the long-running techniques group. AdvertisementA senior leader in one of Two Sigma's key research units is leaving the firm for quant rival Cubist Systematic Strategies, according to people familiar with the matter. Huang is a leader of a Two Sigma unit that develops machine-learning models and other advanced strategies from various data sources and trading signals.

Persons: Kan Huang, Jin Choi, —, Steve Cohen's, Huang, Ken Baron, Choi, John Overdeck, David Siegel, Scott Hoffman, Carter Lyons, Ali, Milan Nekmouche, Jian Wu Organizations: Sigma, Service, Bloomberg, Sigma Investments, Securities and Exchange Commission, Wall Street

☆ Beware of 'seismic shocks' to the US economy and inflation if this specific election outcome occurs, according to a top mind at Bloomberg Economics
▼ + stars: | 2024-10-03 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementOne election result may cause 'seismic shocks'Partisans are convinced that this election is the most important ever, as they always are. The market isn't convinced, judging by where the VIX is trading just a month away from election day. "Let's think about a world where Trump gets into power and poses a 60% tariff on China," Orlik said.

Persons: there's, Tom Orlik, —, Tim Walz, JD Vance, Kamala Harris, Donald Trump, shouldn't, who'd, Nancy Davis, Davis, Tanvir Sandhu, Sandhu, Chris Murphy, Murphy, Harris, Trump, Joe Biden, Orlik, Trump's, Murphy isn't, I'm Organizations: Service, Bloomberg, White, Trump, Bloomberg Economics, Bloomberg Intelligence, Traders, Biden, Nvidia, Qualcomm Locations: Susquehanna, China

☆ Jeremy Grantham's right-hand man Ben Inker warns your 60/40 portfolio is in for a 'lost decade' of negative returns
▼ + stars: | 2024-09-30 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

The popular 60/40 portfolio of stocks and bonds has returned double digits annually since 1979. Inker shares the risks of the 60/40 strategy and where he's looking for opportunities. AdvertisementFor decades, the 60/40 strategy has been the gold standard of investing. As a result, the 60/40 portfolio right now is not set up to generate attractive returns. Related storiesInvesting against the grainInstead of the traditional 60/40 portfolio, Inker recommends taking a more flexible approach to different asset allocations.

Persons: Ben, —, Jeremy Grantham, doesn't, they've Organizations: Service, Bloomberg

☆ 900 workers will share a $75 million pot after KKR sale — with some getting $325,000 windfalls
▼ + stars: | 2024-09-27 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

GeoStabilization International will share a $75 million pot with workers following its sale by KKR. About 900 staff will get payments of up to $325,000 following the sale. A KKR executive promotes Ownership Works, which calls for workers to get stakes in their companies. It will share $75 million of the proceeds with about 900 staff, mainly construction workers, at the geohazard mitigation and road safety services provider, KKR said. In April 2022, he launched Ownership Works , a nonprofit that promotes giving workers a stake in the businesses they work for.

Persons: —, Leonard Green, GeoStabilization, Pete Stavros, Stavros Organizations: KKR, Service, Leonard Green & Partners

☆ Inside Man Group's rebuild of a key platform that will change the way the giant hedge fund analyzes data and manages risk
▼ + stars: | 2024-09-16 | by ( Bianca Chan | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The new platform, called Condor, was initially designed to replace a cobbled-together patchwork of different systems — some built more than a decade ago — underpinning Man AHL, the firm's systematic-trading arm. Over time, Man built different systems to trade them all. With Condor, Fitzgerald wants to bring those together — the research, the trading, and the logging — into a single platform. But software engineers adding functionalities, risk teams managing exposure, and support teams ensuring trading systems are running will also be using Condor.

Persons: —, Barry Fitzgerald, Fitzgerald, cohead, it'll, Condor Organizations: Service, Business, Condor, Man AHL, AHL

☆ An M&A expert says creator-economy companies need to look beyond influencers to grow
▼ + stars: | 2024-08-12 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

Instead, look at companies that sell tools for content creation that service a wider swath of users, Lambros told Business Insider. BI spoke to Lambros about the state of the creator economy and the firm's recent report on the industry. The creator economy needs to crack B2BCompanies should not rely on influencers to make it big. Publicly traded companies within the creator economy include Shopify, Eventbrite, Roblox, and Reddit. Private-equity firms, an increasingly common buyer in the startup space, still have some learning to do about the creator economy, he said.

Persons: —, John Lambros, Houlihan Lokey, They're, Lambros, upstarts, it's, Permira, That's Organizations: Service, Business, Fortune, Avid, Networks, Publicly, YouTube Locations: Lambros

☆ In an oversaturated market for AI companies, these startups have the best shot at surviving
▼ + stars: | 2024-08-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Investors highlighted their portfolio companies and startups they had no financial ties to. Leena Rao, who oversaw the list and leads BI's VCs and startups team, estimated about 80% of the startups included are focused on AI. AdvertisementiStock; BIAs differentiated as AI startups try to be, the market has undeniably become oversaturated. Big Tech reform is coming, but Washington won't be the one doing it. Congress can't or won't act, so people who want Big Tech companies to change their ways are trying to do it through the courts .

Persons: —, Kamala Harris, Tim Walz, Here's, Kimberly White, Chelsea Jia Feng, Leena Rao, BI's, That's, It's, Arindam Sandilya, Paul Dietrick, Oppenheimer, John Stoltzfus, Jenny Chang, Rodriguez, Adam Mosher, Mosher, YouTube's, Jimmy Donaldson, Alyssa Powell, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Boldstart Ventures, TechCrunch, Healthcare, Getty, JPMorgan, FX, UBS, BI Prosecutors, Big Tech Locations: Minnesota, we're, Washington, New York, London

☆ JPMorgan says the carry trade that pummeled markets is only half done
▼ + stars: | 2024-08-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The unwinding of the carry trade that's battered stocks in recent days isn't done, JPMorgan says. It says that trade is probably only half over, as Japan looks poised to continue raising rates. AdvertisementThe "carry trade" unwind that helped spark the bloodbath in US stocks over the past few days likely isn't close to over, a JPMorgan strategist says. Market commentators say that's been partly stoked by a surprise 15-basis-point interest-rate hike in Japan, which triggered some investors to unwind a trade that's become popular in recent years. In this trade, investors borrow cheap yen and deploy the cash into higher-yielding assets elsewhere, like US stocks.

Persons: —, Arindam Sandilya, that's, Sandilya Organizations: JPMorgan, Service, FX, Bloomberg, Bank of Locations: Japan, Bank of Japan

☆ 6 top Goldman dealmakers, from Dan Dees to Gene Sykes, reflect on their careers at the investment bank, from junior banker to partner
▼ + stars: | 2024-08-01 | by ( Reed Alexander | ) www.businessinsider.com time to read: +12 min

Wall Street careers are notoriously grueling and littered with politicking and jockeying to climb the ranks. AdvertisementNow, these six partners are looking back on their own rise, offering words of wisdom from their own Wall Street origin stories. At Goldman Sachs, the core of who we are in investment banking is M&A. Gene Sykes, cochairman of global M&A and global TMT:Gene Sykes Courtesy of Goldman SachsThe market for M&A advice has evolved over time. Are you a Goldman Sachs or Wall Street insider?

Persons: Goldman Sachs, Alison Mass, Stephan Feldgoise, Dan Dees, Hank Paulson, Tim Ingrassia, Alison, Goldman, Peter Weinberg, Gene Sykes, It's, Mark Sorrell, John Thornton, John Waldron, Karen Cook, Yoel Zaoui, Gregg Lemkau, it's, Jennifer Kopylov, Reed Alexander Organizations: Service, Wall, Partners, Business, US Treasury, Street, Goldman Locations: New York City, London, New York, Europe, American

☆ To woo investors, hedge funds are reviving a strategy left for dead post-crisis — supercharged index investing
▼ + stars: | 2024-08-01 | by ( Alex Morrell | ) www.businessinsider.com time to read: +12 min

Read previewFaced with higher rates and a daunting fundraising climate, hedge funds are wooing investors with a seemingly antithetical pitch: index investing with a twist. Hedge fund industry insiders are abuzz right now about "portable alpha," a blast-from-the-past strategy that's undergoing a revival. According to the Morgan Stanley white paper, it can take on a variety of forms, including "dedicated portable alpha funds, portable alpha share classes, portable alpha feeder funds and other solutions." Advertisement"It's a nice way of smuggling hedge funds into your portfolio if you're an allocator," said Jon Caplis, CEO of hedge fund research firm PivotalPath. He said much of the industry still hasn't woken up to the appetite for portable alpha solutions and the potential boon to hedge funds.

Persons: —, punchier, Kim Shaw, Morgan Stanley, There's, Shaw, Penny Novick, Morgan, Novick, Bill Gross, Myron Scholes, PIMCO's, Roark Stahler, Jon Caplis, Russell, PIMCO, Sabrina Callin, Brian Payne, Payne, Caplis, hasn't Organizations: Service, Trading, Business, Man, CME Group, BlackRock, Barclays, Russell Investments, Institutional, State, Investor, BCA Research, Teachers, Investors Locations: Winton, American, Illinois

☆ AI tools for Goldman's workforce set to 'land at scale on desks' as soon as next year: partner
▼ + stars: | 2024-06-27 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

For Goldman Sachs' investment bankers, the answer may just be over the horizon. Top Goldman executives told Business Insider that the investment bank is poised to roll out a series of generative AI tools to its workforce as soon as next year. Lee, a Goldman partner, said it could take years for the consequences of this tech on the bank's workflows to be fully understood. But he is overall optimistic about how generative AI, an advanced type of machine learning, will impact its workforce. Many junior bankers spend time on tasks that can sometimes feel "relatively routine," Lee said.

Persons: —, Goldman Sachs, Goldman, George Lee, cohead, Lee, it's, Jamie Dimon, Alison, Tim Ingrassia, Gene Sykes, dealmakers, David Solomon, Ingrassia, Reed Alexander Organizations: Service, Business, Goldman Sachs Global Institute, JPMorgan, Goldman, New York Times, Deutsche Bank

☆ 2 Goldman Sachs interns share their Wall Street experience and secrets for success, from early mornings to overcommunicating
▼ + stars: | 2024-06-21 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +13 min

Stankard should know — he's a rising senior now, but this will be his second summer interning for Goldman's sales and trading division. "I've always been interested in business generally," said Young about her decision to intern with Goldman last summer. For sales & trading interns like him, the summer is different — they split their nine weeks between two "pods" within the division. Dan Dees Goldman SachsA summer at Goldman is hard workTraders are known for having early work schedules to get ahead of the trading day and clients' needs. Goldman interns mingle Emmalyse BrownsteinAdvice for other interns and applicantsStanding out is hard in the application process.

Persons: —, Goldman Sachs, Anna Kouba, Goldman, Robbie Stankard, He's, Stankard, you've, Willow Young, Goldman Young, I've, Young, Dan Dees, Dees, Tony Pasquariello, Lucy DeStefano, he's, Lucy, they're, Dan Dees Goldman Sachs, it's Organizations: Service, Business, Goldman, Columbia University's, Stanford University, Financial, Group, FIG, Bloomberg, Soros Fund, CNBC, Investment, Wall Locations: Jersey, California, Chicago, New York, Westwood , Massachusetts

☆ The luxury conglomerate behind Cartier is beating LVMH at its own game
▼ + stars: | 2024-06-19 | by ( Madeline Berg | ) www.businessinsider.com time to read: +10 min

But there's another corporation beating LVMH at its own game, and you probably haven't even heard of it: Richemont. Switzerland-based Richemont, behind brands like Cartier, Van Cleef & Arpels, and Piaget, is having a moment. "All of this favors the most established brands: Cartier and Van Cleef." Driven by Richemont's top brands, Cartier and Van Cleef, sales gained 7% in the country, including Hong Kong and Macau, in Richemont's 2024 fiscal year. "If you're in a bar or restaurant, you're sitting at a distance, you can recognize the Labra pendant from Van Cleef.

Persons: —, Louis Vuitton, Bernard Arnault's, Van Cleef, Piaget, outperforming LVMH, Saint Laurent, It's, Cartier, Chiara Battistini, it's, Gucci, Arnault, Johann Rupert, Rupert, Richemont, Fflur Roberts, HSBC's Rambourg, Diana —, Tim Graham, Jelena Sokolova, Morningstar, Rambourg, Euromonitor's Roberts, Van, Keith Tsuji, Sokolova, Cleef, Nicolas Bos, — Bos, Nicholas Bos, Jared Siskin, I've, What's, JPMorgan's Battistini, Bos, Porter Organizations: Service, LVMH, Business, Cartier, Gucci, HSBC, Google, JPMorgan, Credit Suisse, Deloitte, Local, Art Basel, McKinsey, Prada Locations: Switzerland, China, Euromonitor, Hong Kong, Macau, Art Basel Hong Kong, Asia

☆ Instagram's notes feature is growing at a 'wild pace' and part of its plan to make messaging central to the app's future
▼ + stars: | 2024-06-17 | by ( Shriya Bhattacharya | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

Read previewInstagram really wants you to try out "notes" — its status feature that harkens back to the instant messaging days of the internet. Adam Mosseri, the head of Instagram, posted about the feature this month with the prompt: "What are notes about?" Meanwhile, creator Walé Oyerinde loves using the notes feature because it's one of the '"lowest effort high impact" ways to boost regular engagement on the app. AdvertisementInstagram launched the "notes" feature in 2022. She wants the notes feature to be visible to everyone who follows her so she can continue building her personal brand and cultivating a more engaged online community.

Persons: —, Adam Mosseri, Mosseri, Instagram, Ashley Yuki Alexander, Celine Mili, It's, Jyoti Chand, Walé Oyerinde, I've, Milli, Khamyra, Avalon Zborovsky, Fenter, she's Organizations: Service, AIM, Business, Facebook, Meta Locations: Instagram's

☆ With signs of an M&A comeback, Goldman Sachs' bankers are raring to win. Do they still have what it takes following a raft of partner exits?
▼ + stars: | 2024-06-12 | by ( Reed Alexander | ) www.businessinsider.com time to read: +13 min

AdvertisementDavid Solomon Goldman SachsPressure-cooker cultureWith signs suggesting mergers and acquisitions could soon return — including the megadeals Goldman specializes in — the firm's dealmakers are itching to end 2024 on a high note. In M&A, Goldman has fallen to No. AdvertisementMark Sorrell Goldman SachsGoldman is also seeking to become more interconnected across its business lines via the One Goldman Sachs program. "They figure that if they're talking to one person at Goldman Sachs, they're talking to everybody." The result, bankers said, is an M&A machine built to withstand threats like star dealmakers leaving for more-nimble rivals.

Persons: —, Goldman Sachs, Bill Quinn, Goldman, Jacki Zehner, Rishi Bali, Hank Paulson, John Thornton, John Thain, David Solomon, Solomon, Dan Dees, What's, David Solomon Goldman Sachs, Gene Sykes, Alison, It's, LSEG, dealmaking, Goldman dealmakers, Momo Takahashi, We've, Mark Sorrell, Mark Sorrell Goldman Sachs Goldman, Sykes, they're, Sorrell, Dees, it's, Dan Dees Goldman Sachs, we're, John Waldron, Kim Posnett, that's, Timothy Ingrassia, Ingrassia, Stephan Feldgoise, I'm, Reed Alexander Organizations: Service, Business, Goldman, JPMorgan, playbook Bank, Wall Street, Competition, & $ Locations: Silicon Valley, London, New York City, Latin America

We asked seven pro investors to identify the best trades of their careers and explain how the lessons from those decisions still apply today. The CBOE Volatility Index, also known as the VIX, shot above 40, essentially meaning traders were betting that the stock market would be exceptionally rocky over the following month. Jeff Muhlenkamp, lead portfolio manager at Muhlenkamp & CompanyJeff Muhlenkamp Muhlenkamp & CompanyJeff Muhlenkamp's namesake Muhlenkamp Fund (MUHLX) has been in the top 3% of its category in the past half-decade, thanks to trades like one he pulled off on Chinese internet firm Baidu (BIDU). "I pretty much expected, 'OK, if I get a double out of this in five years, I'll be happy' — that's pretty decent money," Muhlenkamp said. He noted that industrials within the Russell Mid Cap value index have returned 116% over the previous five years.

Persons: —, That's, Michael Burry, Warren Buffett, Berkshire, Rob Arnott, Tim Boyle, Arnott, I'd, Bob Elliott, Bob Elliott's, Elliott, Jeff Muhlenkamp, Jeff Muhlenkamp Muhlenkamp, Jeff Muhlenkamp's, Muhlenkamp, you've, Sona Menon, Cambridge Associates Sona Menon, Bryant VanCronkhite, Allspring Bryant VanCronkhite Allspring Bryant VanCronkhite, VanCronkhite, Russell, industrials, James Davolos, Davolos, George Patton, Harley Bassman, Harley Bassman's, Bassman, Merrill Lynch, I'm Organizations: Service, American Express, Business, Research, Bloomberg, Getty, Bridgewater Associates, Treasury, Securities, Muhlenkamp, Baidu, Google, North, Cambridge Associates, Allspring, Horizon Kinetics, Opportunities Fund, Credit Suisse Locations: industrials, West Africa, New York City, Guinea

☆ Citadel Securities Taps Goldman's Jim Esposito As First-Ever President
▼ + stars: | 2024-05-30 | by ( Reed Alexander | Michelle Abrego | ) www.businessinsider.com time to read: +5 min

Read previewCitadel Securities announced Thursday that Jim Esposito, a former cohead of the global banking and capital markets group at Goldman Sachs, is set to join the company as president in September. He will report to Peng Zhao, Citadel Securities' CEO, a spokesperson for the firm confirmed to Business Insider. "We are thrilled to welcome Jim to Citadel Securities during a period of significant expansion and opportunity for our firm." Bloomberg News earlier reported Esposito's appointment to Citadel Securities on Thursday. Ken Griffin, the billionaire hedge fund founder of both the asset manager Citadel as well as Citadel Securities, relocated his companies' headquarters to the Magic City in 2022.

Persons: —, Jim Esposito, Goldman Sachs, Peng Zhao, Esposito, Goldman, Jim, Ken Griffin, Zhao Organizations: Service, Citadel Securities, Business, Citadel, Apple, Goldman, . Citadel, BI, Bloomberg, Sunshine State, Magic City, Elliott Management Locations: South Florida, London, Miami, Chicago . Miami

☆ Inside Balyasny's summer internship, where how you accept feedback can make or break your chance of a full-time offer
▼ + stars: | 2024-05-09 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +8 min

That goes for summer interns, too, and may be especially important for them considering the bar to entry is high at Balyasny. The firm said it usually converts about 50% of its top-performing summer interns into full-time hires. AdvertisementThe hedge fund also has a formal feedback process where interns get a progress report about halfway through the summer, and again at the end. Anna Gietl, intern summer of 2022 BalyasnyDon't just hear feedback — implement itBalyasny's culture is about more than accepting feedback or seeking it out. Feedback can also be a catalyst to help build connections and solicit mentorship from people outside your team, Gietl added.

Persons: Hannah Dinardo, Dinardo, San Francisco —, execs, Dmitry Balyasny, Brendan McDermid, aren't, it's, Andrew McHugh, Anna Gietl, Gietl, —, I've, Balyasny, It's, McHugh Organizations: Service, Business, BAM, Balyasny Asset Management Locations: York, New York, Chicago, Austin, Houston, San, London , Hong Kong, Singapore

Search resuls for: "cohead"

25 mentions found