By Scott Sipprelle 1/23 12:37pm

A Humbled Wall Street

Morgan Stanley CEO James Gorman

The End of the Bully Market: Morgan Stanley CEO James Gorman is Right

In 1987, I began my rookie assignment on the stock sales and trading desk for Morgan Stanley. A few weeks later the stock market crashed, and I learned my first important lesson about the pecking order on the Street. As a newcomer, my senses were on high alert. Across the floor, a trader named Chuck stood with a phone pressed hard against his ear as he barked out ear-piercing commands. Closer by, I found an island of serenity as the carnival of capital plunged into chaos. His name was Lou, and he was a smooth-talking senior salesman with a magnificent collection of suspenders. Read More

By Patrick Clark 11/01/12 5:34pm

rap genius

As seen in a research note from Bill Gross yesterday.

Bill Gross’s Flavor Flav Note Is the New Most Bizarre Hip-Hop Reference on Wall Street

The Observer was befuddled if ultimately amused when Carson Block, the noted short-seller of Chinese companies, invoked Mannie Fresh in his take down of for-profit education company. (“I got everything in my momma name/But I’m hood rich,” Mr. Block quoted, reflecting that New Oriental Education and Technology Group chairman Michael Yu had signed assets Read More

By Patrick Clark 10/04/12 8:40am

Morning Read

Elliot Capital Seizes Ship From Argentinean Navy; ESM Weighs Plan to Guarantee New Spanish Debt: Roundup

Paul Singer’s Elliot Capital Management seized a training ship owned by the Argentinean navy after the hedge fund won a court decision ruling that the South American nation still owes on a 2001 bond offering.

The European Stability Mechanism may guarantee the first 20 to 30 percent of potential losses on new Spanish debt, according to Reuters. The plan would be aimed at saving Spain without depleting Europe’s rescue funds. Read More

By Patrick Clark 7/17/12 6:30am

Morning Read

Diamond Contradicted Again in Libor Hearings; HSBC Let Problems ‘Fester’: Roundup

Conflict of interest? Royal Bank of Scotland is fighting a Canadian inquiry into the bank’s role in manipulating interbank lending, arguing that British law prevents the bank from turning over documents pertaining to the investigation. If RBS’ resistance is surprising, it’s because the bank has been majority-owned by the British government since the 2008 Read More

By Patrick Clark 6/07/12 5:57pm

Two Evils

Best Buy & Yahoo! Reputation- Adults 18+

Yahoo’s Lying Thompson Did Less Damage Than Best Buy’s Cheating Dunn

Scott Thompson, you’ll remember, is the former Yahoo chief executive ousted last month afteractivist investor Dan Loeb uncovered inaccuracies on Mr. Thompson’s resume. Brian Dunn, meanwhile, was the CEO of Best Buy until April, when he left the company amid an investigation that eventually revealed Mr. Dunn had what the polite press called an “inappropriate relationship” with an employee. Read More