Word: trader
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Dates: during 1990-1999
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There is a perilous impulse here to say, "Sure, if you say so." And not just outsiders are baffled by such impressively technical discourse. Older managers weren't taught this stuff. "The guy who heads your group, a head trader, he's never solved a quantitative problem before," says a 30-year-old Ph.D. at a leading brokerage house. "An important problem that could take you three weeks to solve properly, he'll want it done in two days. It's very difficult for a quant who thinks of himself as a Ph.D. from a top-notch school and comes...
...financial cyberspace, but it produces real victims. In Japan the accounting director of Nippon Steel Chemical leaped to his death beneath a train last May after he lost $128 million of the company's money by using derivatives to play the foreign-exchange market. In Chile a derivatives trader named Juan Pablo Davila lost $207 million of taxpayers' money last fall, instantly earning himself a place in Chilean infamy, by speculating in copper futures for the state-owned mining company. In Germany the giant conglomerate Metallgesellschaft dwarfed even those losses when it dropped $1.3 billion last year by betting...
...Chicago trader Peter Dunne, who works and sleeps to the sound of bond futures markets buzzing from Frankfurt to Tokyo, can attest to the global expansion of derivatives trading in the past four years alone. Dunne's working day has lengthened four hours over that stretch: he rises at 4:30 a.m. to get to the Chicago Board of Trade by 6 a.m. to begin the business of trading that can last until 9 p.m. The trading day for stocks and bonds has grown to marathon proportions as well. Sophia Ulanday, who sells U.S. stocks for Lehman Brothers in Hong...
...personal coup for Huizenga, 56, who may yet play a dominant role in the sprawling new company. While Biondi, 49, will remain Viacom's chief executive officer, industry leaders who know Huizenga well say he could swiftly become the real power. "He is lightning quick, a classic trader and a gambler," says an entertainment-industry executive. "He looks at Sumner, who is 70. He eats Biondi instantly. He comes out on top." In a sign of Huizenga's likely clout, Redstone flew to Blockbuster headquarters in Fort Lauderdale, Florida, last week to confer with his new partner. Says the Viacom...
...They [the banks] come to Harvard with offers of how to refinance Harvard's debt and if the offer is good enough Harvard has a bond issue...kind of like a second mortgage on a house," an area trader said...