Lunchtime-ish Links: A graphical depiction of why the best traders probably work at Goldman Sachs
10Q filings are now in for Goldman Sachs, JPMorgan, and Morgan Stanley. As you will probably already be aware, they show an faultless trading quarter for Goldman Sachs and JPMorgan.
Regardless of the debates about Goldman's unfair advantages and the damage such a quarter might do its already tarnished public image, the results (shown below) suggest that if you're a trader you're better off working at Goldman Sachs or JPMorgan. Morgan Stanley trails very far behind.
Goldman Sachs, daily net trading revenues Q1
JPMorgan, daily net trading revenues Q1
Morgan Stanley, daily net trading revenues Q1
Citigroup has hired three interest rate traders in London. (BusinessWeek)
Team moves in Moscow. (Automated Trader)
Keefe Bruyette & Woods has hired an equity researcher from Morgan Stanley. (Powermoves)
US plans law to stop banks betting against clients. (The Times)
'The Germans have signalled that their banks are a lot more precarious than they would have us believe.' (The Atlantic)
RBS blames the European Union for the latest round of job cuts. (Telegraph)
How to write like your not a moron. (Wall Street Oasis)
Test your attitude to risk. (The Times)
Near misses can heighten gambling addiction. (Economist)
"If the voting system is to change, I suggest votes are handed out in proportion to tax paid. That means us hedgies and Investment Bankers get to run the country and Scotland can be spun off as a toxic asset SIV." (Fintag)
