Word: goldmans
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Dates: during 2000-2009
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...order to deal with nervous investors and the unpredictable markets, many hedge funds have recently gotten a lot more conservative. David Kostin, an analyst at Goldman Sachs, estimates that hedge funds have moved as much as $400 billion of their assets into cash. Cohen's SAC Capital, which is down 9% this year, has reportedly put half its fund, or $7 billion, in cash. The move to cash makes sense, says Gradante, for the current market. But it may hurt funds over the long haul. "If stocks rebound rapidly, like they did on Monday," says Gradante, "these funds will continue...
...interview through an interpreter. In one particularly graphic scene, a woman describes finding her headmaster disemboweled and beaten to death behind the schoolhouse. Later in the film, a man recounts his mother’s shooting, using his own chest to trace the path the bullet took. Merle Goldman, a professor emerita at Boston University and a research associate at the Fairbank Center, said she sponsored the viewing because it is the first Chinese movie she had seen about the Cultural Revolution. “In China, it’s a non-subject, a subject the party does...
Over the decades, the firm has survived its share of crises, including the Long-Term Capital Management hedge-fund blowup in 1998 that cost Goldman $1 billion. But the lessons learned and applied may be why the company isn't neck-deep in blood today. As ambitious as its cutthroat competitors, Goldman didn't go completely mad during the past decade when it came to, say, overleveraging itself or overvaluing dicey assets...
With The Partnership, Ellis has fashioned a taut and anecdote-rich narrative stretched over a sturdy frame of historical context. A longtime consultant to Goldman, he sometimes lets the book lapse into press-releasey hagiography. But for a job well done, Ellis deserves to take a victory lap around Wall Street. You'll surely recognize him; he'll be out there by himself...
...which means they aren't dependent on outside borrowing in order to make payroll and keep the lights on. And even those municipalities that do use short-term notes may succeed in selling them in the end. On Oct. 8, Massachusetts finally sold its $750 million worth after hiring Goldman Sachs and Citigroup to find buyers, instead of running a normal auction. California is going to try to sell $4 billion worth of securities next week...