Word: salomon
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Except, perhaps, those seniors who have worked dorm crew themselves. Jason S. Cassidy '98 had a prolific dorm crew career, culminating his four year career with a stint as head captain. After cleaning up at Harvard, Cassidy went straight from four years of dorm crew to Wall Street and Salomon Smith Barney...
...fund was founded in 1994 by John Meriwether, a former vice chairman of Salomon Brothers, and its partners included Nobel laureate economists Myron Scholes and Robert Merton, whose market models helped give Long Term Capital an aura of near infallibility. Until September, that is, when word leaked that the firm was in danger of suffering losses so catastrophic they could send the already troubled world financial system into a tailspin. A $3.6 billion rescue package was cobbled together by the Federal Reserve Bank of New York and a consortium of 14 U.S. and foreign lenders...
...ravenous quest for investment data would not be sated by print alone, a vacuum exploited brilliantly by Michael Bloomberg. Pushed out of Salomon Brothers in 1981, he invested his $10 million farewell gift in building a computerized data service that he turned into a global news service. Today 105,000 Bloomberg terminals light up the desks of banks and brokerages, and the company has expanded into magazines, TV and radio. Bloomberg's media churn out information about interest rates, currency-exchange rates and other streams of data that would have been considered exotic not long...
...biggest winners in all this could be the U.S. investor who bets on the euro's boost to European growth. "For the American investor," says J. Paul Horne, equity-market economist with Salomon Smith Barney in London, "the euro zone will be one of the few places in the world with risk comparable to that in the U.S. and with the kinds of structural changes that we saw in the U.S. over the past five years: balanced budgets, increased competitiveness, productivity gains...
...zeros," which rise and fall about twice as fast as regular T-bonds. Zeros, up 9.3% in the third quarter, aren't as exotic as they sound. You may know them as TIGERS (Treasury income growth receipts) from Merrill Lynch or CATS (certificates of accrual on Treasury securities) from Salomon Smith Barney. Basically, a zero is a bond that pays no current interest and is sold at a deep discount to its face value. The interest payments are built into the price at which the holder redeems the bond when it matures in five to 30 years. Zeros are easily...