Late Lunchtime Links: Just a small example of what's possible if you're a very senior person at Brevan Howard

We've noted before that while investment banks are heavily constrained by new compensation rules, this isn't necessarily the case at hedge funds like Brevan Howard. Now we have a little glimpse into what's possible in the land of large cash payouts.

According to FinAlternatives, Trifon Natsis, the co-founder of BH is increasing the size of his Hampstead home tenfold by digging an enormous underground extension and adding a terracotta balustrade, terraces, and a front porch. The underground area will include a pool, Jacuzzi, wine cellar, gym, and garden room.

Why aren't universities teaching trading? (BusinessInsider)

Goldman Sachs only lost money on 25 days last year. (BusinessInsider)

Morgan Stanley had trading losses on 28 days in 2010. (Bloomberg)

This female sales trader has been at Merrill 40 years. (TradersMagazine)

Goldman Sachs Group could lose up to $3.4bn from lawsuits and other disputes over the securities it sold and underwrote. (FoxBusiness)

JPMorgan might have to spend $4.5bn more than it's already budgeted on legal costs. (Financial Times)

UBS has combined its FICC and equities businesses. (Financial News)

A significant proportion of the explosive growth of financial activity over the past 15 years is in a sense fatuous. (BBC)

Mervyn King today promised a hands-on, more aggressive form of bank regulation in the future. (Evening Standard)

Madoff in therapy: "How could I have done this?" he asks. "I was making a lot of money. I didn't need the money. [Am I] a flawed character?" (NYMag)

People who score high on tests of self-compassion have less depression and anxiety, and tend to be happier and more optimistic. (NYTimes)