Word: trader
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Edward Jones, a former bond trader, founded the brokerage in St. Louis in 1922 and ran the business like any big-city firm until after World War II. In 1948, son Ted joined his father and came up with the idea to seek business in the hinterlands. "There were a whole lot of farmers, storekeepers and small- town professionals out there that brokers weren't calling on," recalls Ted Jones, 61, now the firm's senior partner. In 1955, Jones opened its first branch office over the Woolworth's in Mexico, Mo. After growing slowly at first, the company...
...inside Fox's heart and mind, Sheen spent a couple of days talking with David Brown, a former Goldman Sachs trader who pleaded guilty to insider trading charges in 1986. "A lot of these guys on Wall Street consider themselves to be warriors," reports Sheen. "They say, 'I'm going off to war today,' and they're not kidding." Sheen had an easier time relating to his real-life dad in the role of his onscreen father, an airline mechanic who senses the hidden price of his son's success. Hannah had difficulty even liking her character. She plays...
...financial community was stunned at not only the immensity of the loss but also the identity of the trader: Howard Rubin, the head of Merrill Lynch's trading desk for mortgage-backed securities. Rubin, who has been fired but not charged with any criminal wrongdoing, was a respected trader and is a Harvard Business School graduate. Said Stephen Joseph, a senior trader at Drexel Burnham Lambert: "It's really strange. He has a great reputation...
...incident prompted questions about Merrill Lynch's internal supervision. The firm claimed it had put a closer watch on Rubin at least a year earlier, after assessing him as talented but riskprone. Last week the company began an in-house probe and fired a second trader, who had allegedly failed to disclose investments and lost $10 million. Meanwhile, colleagues began looking for hints in Rubin's background about why he took such a plunge. According to one account, the trader had been a devoted blackjack player before his business-school days...
...McBaine, an executive vice president of Hambrecht & Quist, the San Francisco investment firm. His pun had a certain appropriateness. By way of a theme party, McBaine's company had invited some 600 members of the financial community to share in the unique feeling of being an illegal insider trader. Or almost. The guests were transported by boat to Alcatraz, the inactive island penitentiary in San Francisco Bay. There, while 25 actors dressed as convicts and jail guards capered around them, the temporary inmates supped on roast quail with lime sauce and admired the concrete and steel-bar decor. Estimated cost...