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☆ What Cramer is watching Tuesday — J&J beat, Salesforce gets an activist, stocks surge
▼ + stars: | 2022-10-18 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

What I am looking at Tuesday, Oct. 18, 2022 Club holding Johnson & Johnson (JNJ) reports an impressive quarter. Activist investor Starboard takes a major stake in Club holding Salesforce (CRM), sees significant opportunity. Club holding Microsoft (MSFT) cuts people, continues to invest, but calls for slowest quarterly revenue growth in more than five years. Barclays cuts price target on Charles Schwab (SCHW) to $73 per share from $81. Barclays cuts price target on Unity Software (U) to $33 per share from $49.

☆ A 26-year market vet breaks down why investing legend Jeremy Grantham is correct to compare the current market to the 2000 and 2008 'superbubbles' — and warns stocks will fall another 20%
▼ + stars: | 2022-10-15 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

There's little reason for optimism in today's market, Lance Roberts laments. Just look at the barrage of headwinds facing stocks right now, the RIA Advisors CIO said in an October 10 commentary. At the start of this year, investing legend and founder of GMO Jeremy Grantham, said stocks were in their fourth superbubble in the last century given that market valuations had veered from historical norms so drastically. On Friday, Roberts told Insider that he agrees with Grantham's assessments, and that he sees the S&P 500 dropping to around 2,900. One of Wall Street's most bullish strategists this year, BMO's Brian Belski, cut his 2022 price target on the S&P 500 again on Friday to 4,200.

Typically, banks would sell the debt to investors and pocket an underwriting fee. Elon Musk vs TwitterThe debate, currently a topic of conversation among investment bankers and debt investors, provides a window into the havoc wreaked on Wall Street by Musk’s U-turn last week. Musk, however, conditioned his proposal on his ability to secure debt financing and now has until Oct. 28 to close on the transaction. VARIOUS OPTIONSThe debt financing package is comprised of leveraged loans, which are risky because of the amount of debt the company is taking on, as well as secured and unsecured bonds. In September, banks financing the Citrix buyout undertook a similar restructuring.

☆ How Cowen’s golden parachutes landed with a thud
▼ + stars: | 2022-10-07 | by ( John Foley | ) www.reuters.com time to read: +7 min

It's not unusual for executives to have so-called golden parachutes that trigger when their company is sold. Compared with the $400 million TD might have had to pay, that sounds like a bargain. But as a proportion of the overall deal value, Cowen’s executives punch above their weight. So even if Cowen’s top brass have agreed not to open their golden parachutes, they’ll still land at TD with considerable impact. The deal included a renegotiation of the severance packages held by Cowen’s top six executives, including Chief Executive Jeffrey Solomon.

☆ Bank of America employees are frustrated and confused over new rules governing chats with colleagues and clients amid crackdown on illicit messaging
▼ + stars: | 2022-09-28 | by ( Alex Morrell | ) www.businessinsider.com time to read: +6 min

BofA has rolled out a new communications policy to traders and bankers amid an industry-wide regulatory probe. Even texting "I'm running late" from a personal phone is a policy violation, according to an internal memo. Banks and brokerages are required to monitor employees' written communications — rules that often went ignored during the work-from-home days of the pandemic, leading to a regulatory crackdown that ramped up this year. The same example — letting someone know you're running late to a meeting — was cited. For those who want to ensure safety, it means putting personal communications that could come into question on the corporate phone.

☆ U.S. fines 16 Wall Street firms $1.8 bln for talking deals, trades on personal apps
▼ + stars: | 2022-09-27 | by ( Michelle Price | ) www.reuters.com time to read: +4 min

Sept 27 (Reuters) - U.S. regulators on Tuesday fined 16 financial firms, including Barclays (BARC.L), Bank of America , Citigroup , Credit Suisse (CSGN.S), Goldman Sachs , Morgan Stanley and UBS (UBSG.S), a combined $1.8 billion after staff discussed deals and trades on their personal devices and apps. Register now for FREE unlimited access to Reuters.com RegisterThe institutions did not preserve the majority of those personal chats, violating federal rules which require broker-dealers and other financial institutions to preserve business communications. The failings occurred across all 16 firms and involved employees at multiple levels, including senior and junior investment bankers and traders, the SEC said. In one example cited by her office, Bank of America staff used WhatsApp, with one trader writing: "We use WhatsApp all the time but we delete convos regularly." The head of a trading desk routinely directed traders to delete messages on personal devices and to use Signal, including during the CFTC's probe.

☆ U.S. fines 16 Wall Street firms $1.1 billion over record-keeping failures
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Sept 27 (Reuters) - The U.S. Securities and Exchange Commission on Tuesday fined 16 financial firms, including Barclays (BARC.L), Bank of America , Citigroup , Credit Suisse (CSGN.S), Goldman Sachs , Morgan Stanley and UBS, a combined $1.1 billion over failing to maintain and preserve electronic communications. The sweeping industry probe, which was first reported by Reuters last year and had since been disclosed by multiple lenders, is a landmark case for the agency, regulatory experts said. "The firms admitted the facts...acknowledged that their conduct violated recordkeeping provisions of the federal securities laws... and have begun implementing improvements to their compliance policies and procedures to settle these matters," the SEC said. That likely impeded the SEC's ability to gather evidence in other, unrelated investigations, the agency said. The failings occurred across all 16 firms and involved employees at multiple levels of authority, including supervisors and senior executives, the SEC said.

☆ 16 Wall Street firms to pay over $1 billion in penalties over recordkeeping failures
▼ + stars: | 2022-09-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email16 Wall Street firms to pay over $1 billion in penalties over recordkeeping failuresCNBC's Steve Kovach joins 'Closing Bell: Overtime' to report that 16 Wall Street firms have to pay penalties of over $1 billion for record keeping failures.

☆ From quantum computing to augmented reality, here's how 10 top Wall Street firms are looking to use cutting-edge tech
▼ + stars: | 2022-09-26 | by ( Carter Johnson | Bianca Chan | ) www.businessinsider.com time to read: +3 min

JPMorgan is preparing for a quantum futureDavid Castillo, Andrew J. Lang, and Marco Pistoia. The difference could allow users of the tech to process algorithms and execute calculations at blistering speeds. That's because quantum computing uses quantum mechanics, a kind of physics that leverages quantum bits, or qubits, instead of ones and zeros used by classic computers. But JPMorgan researchers say there are signs the industry is getting close to the point where quantum computers can process real-world problems faster than classic computers, often referred to as quantum advantage. The platform, run by Castillo, is also hardware-agnostic, meaning it can interface with quantum computers from different providers without needing to rewrite the application code.

☆ A Microsoft exec just joined Bank of America for a new role at the bank focused analyzing and innovating with customer data
▼ + stars: | 2022-09-23 | by ( Carter Johnson | ) www.businessinsider.com time to read: +3 min

Bartholf will report to David Tyrie, the bank's chief digital officer and head of global marketing. Like other Wall Street firms, BofA faces an abundance of data as customer interactions go digital. Bank of America just nabbed a top exec from Microsoft as the nation's second-largest bank looks to build out a new data and analytics team. Bartholf will head up a new, centralized group at the bank focused on data, the memo said. Based in Charlotte, Bartholf joins Bank of America after spending more than two decades at Microsoft.

☆ Turning point for the crypto community? Where bitcoin goes from here
▼ + stars: | 2022-09-17 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +4 min

But with bitcoin coming off a nearly two-year low, the short-term temperaments are being met with a mix of positive and negative factors that are guiding where the crypto community goes from here. Proposals for more SEC oversight of the crypto community are likely to be met with hostility from the community itself, although the agency has already taken steps to enforce its regulatory agenda. "A year from now, the large trading venues will be in the process of registering with the SEC," Hougan said. Beyond the crypto community, rates of adoption from large investment firms demonstrate that digital currencies are being embraced by Wall Street, Hougan said. "Blackrock and Schwab coming in reinforces to everyday investor that bitcoin is not going away," Hougan said.

☆ Wednesday, Sept. 7 2022: Wall Street gets bullish on this Investing Club stock
▼ + stars: | 2022-09-07 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWednesday, Sept. 7 2022: Wall Street gets bullish on this Investing Club stockJeff Marks breaks down why Wall Street firms are eyeing one stock recently added to the portfolio. He also shares why he thinks today could be volatile for the overall market.

High-profile hiring freezes in the tech industry raised alarms about the health of the job market. But career counselors at universities nationwide insist grads are still getting hired. For many new college grads, the summer's hazy afterglow of no more studying, exams, or group projects is counterbalanced with the pressure of the all-important job search. Insider interviewed a dozen college career counselors and undergraduate professors to get their takes on how the job market is holding up for recent grads. And amid volatility in the stock market, industry experts have predicted that layoffs are likely for some investment bankers.

☆ Family offices have become a $6 trillion powerhouse in investing—and deal-making
▼ + stars: | 2022-07-11 | by ( Robert Frank | ) www.cnbc.com time to read: +11 min

Family offices now manage more than $6 trillion in wealth, according to some estimates, surpassing the estimated $4 trillion managed by hedge funds. Many billionaire hedge fund managers, seeking lighter regulation or freedom from benchmarks and outside investor demands, are also converting to family offices. Singapore recently created a Family Office Development Team to lead and coordinate initiatives that will attract more family offices. The Wealth Management Institute has launched the Global-Asia Family Office Circle in Singapore to attract more family offices. Even family offices that serve more than one family often receive an exemption from the SEC to keep their filings confidential.

Persons: Andrew Cohen, John Paulson, Leon Cooperman, That's, Exchange Sara Hamilton, Cohen, John D, Rockefeller, J.P, Morgan, Goldman Sachs, " Cohen, Morgan Stanley, Daniel DiBiasio, We've, Michael Dell's, Goldman, Gregg Lemkau, West, Byron Trott, Sara Hamilton, Nicky, Jonathan Oppenheimer, Sergey Brin, James Dyson, Bill Hwang, Alexandria Ocasio, Dennis Kelleher, Kelleher, Archegos, Hamilton Organizations: Street, Morgan Private Bank, Forbes, Federal Reserve, Campden, Family, Exchange, JPMorgan, Bank of America, Citigroup, Credit Suisse, UBS, Deutsche Bank, Morgan Stanley Family, MSD Partners, Container Technologies, BDT Capital Partners, Wealth Management Institute, Google, SEC, Archegos Capital Management, Rep, Better Locations: Asia, U.S, Wall, West Monroe, Singapore, Alexandria, Cortez, Archegos

☆ These 14 execs are leading the cloud revolution at top Wall Street firms like JPMorgan, Point72, and Citadel
▼ + stars: | 2022-06-06 | by ( Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +2 min

Here are 14 power players on Wall Street leading the industry's push into the cloud. Finance hasn't always been open to public-cloud technology, largely due to security and regulatory concerns. The cloud is currently taking Wall Street by storm, and a new class of power players is emerging with it. The cloud now touches every nook and cranny on Wall Street from investment banking to risk management and marketing. Here are the 14 power-player executives leading cloud strategy, vision, and execution for the country's largest financial firms.

Persons: Finance hasn't, Saul Van Beurden, workloads Organizations: Wall, Finance, Web Services, Google, IBM, Microsoft, Wells Fargo Securities, Wells Locations: Wells, Wells Fargo

☆ Inside the little-known tool that gives JPMorgan Chase the power to collect data about everything its employees do at work
▼ + stars: | 2022-05-27 | by ( Reed Alexander | ) www.businessinsider.com time to read: +22 min

Insider learned about the WADU system through interviews and leaked internal documents that explain what kinds of data it captures. Though the use of Palantir was reportedly for security purposes, JPMorgan employees who spoke to Bloomberg said the situation quickly escalated. When companies are opaque about how they use employee data, the consequences can be detrimental — from harming employee "engagement" to eroding their "mental health," Garr said. Companies that fail to do this run the risk of cultivating the kind of mistrust that JPMorgan employees claim is running rampant through their ranks. "It does not sit well with me, what they're doing," said the US-based staffer with direct knowledge of the WADU system.

☆ As families and 'Parrotheads' flock to campgrounds and RV parks, institutional real-estate investors see their next big score
▼ + stars: | 2022-05-23 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +13 min

Investors are eyeing profits in campgrounds and RV parks as Americans flock to the great outdoors. Camp Margaritaville RV Resort and Cabana Cabins Auburndale, Central FloridaThe trend is also driven by demographics. Sam Zell's Equity Lifestyle Properties, another large REIT that invests in RV parks alongside mobile homes, has also been busy. While it's not clear how much big investors have thrown into RV campgrounds, manufactured housing communities as a whole have seen a burst of Wall Street financing. After looking hard at multifamily and industrial, he settled with RV parks.

☆ The public cloud is changing how Wall Street works. Here's how the tech is upending everything from trading to dealmaking.
▼ + stars: | 2022-02-23 | by ( Bianca Chan | ) www.businessinsider.com time to read: +13 min

Cloud technology has now percolated through nearly every nook and cranny of Wall Street, affecting everything from investment banking to risk management and marketing. What's motivated the recent trend stems from two things that typically elicit change at financial firms: saving money and moving faster. But at least 30 Wall Street firms and well-known fintechs have publicly sided with one provider as a primary partner. "If you look at Wall Street, they have tens of thousands of people in back offices. Take Citibank, which accidentally wired $900 million to Revlon lenders in what is considered one of the largest blunders ever on Wall Street.

☆ Try our searchable database of more than 350 Wall Street headhunters to find your dream job in private equity, investment banking, or hedge funds
▼ + stars: | 2022-01-03 | by ( Alex Morrell | Reed Alexander | Shayanne Gal | ) www.businessinsider.com time to read: +2 min

Insider has compiled a searchable list of more than 350 Wall Street recruiters. The database includes recruiters who focus on traders, dealmakers, portfolio managers, and bankers. Wall Street jobs have been in high demand and the trend is only expected to continue in 2022. Buy-side trading firms have been snapping up a slew of star derivatives traders from investment banks. The searchable database contains recruiters who focus on front-office investment professionals — traders, dealmakers, portfolio managers, bankers, and the executives those people report into.

☆ 10 top crypto tokens, plus the rising stars of equity research
▼ + stars: | 2021-05-02 | by ( Business Insider | ) www.businessinsider.com time to read: +2 min

I'm Joe Ciolli, and I'm here to guide you through what's been happening in markets. Here's what's on the docket:If you aren't yet a subscriber to Insider Investing, you can sign up here. He shares 3 themes and 10 tokens he's betting on in crypto, and also walks through an example of how to execute special situations investing in digital assets. Their bearish bets have paid off amid a steep decline in SPAC market sentiment and overall performance. Exclusive data from S3 Partners details the 10 most profitable SPAC shorts in the market right now.

☆ The best investing stories of May: Advice from top-tier money managers, tips from Wall Street royalty, and stock picks for a post-coronavirus world
▼ + stars: | 2020-06-02 | by ( Business Insider | ) www.businessinsider.com time to read: +3 min

In an exclusive interview, the Gamco chairman shared the investing themes he's tracking, including what he's doing in media, healthcare, and utilities. David Dudding's mutual fund has consistently dominated peers, and it's one of the best global stock funds in 2020. He detailed for us the major themes in his portfolio, what he's done since the pandemic started, and his top picks for the future. Commentary/outlooks from top-tier investors and Wall Street firmsBusiness Insider surveyed 10 fund and portfolio managers on various aspects of their strategies in a post-pandemic world. The attractiveness of US assets relative to the rest of the world is brewing a bubble in the stock market, according to equity-derivatives strategists at Bank of America.

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