With investment bankers firmly embedded as villains in the public psyche, there appears to be an appetite for fiction and non-fiction with banking as its theme. Hence, the newly released Capital by novelist John Lancaster deals with a banker and his family as its central character. Late last year, Robert Harris released Fear Index, which revolves around a physicist who sets up a hedge fund. And Sebastian Faulks released A Week in December, also featuring a hedge fund manager in 2010.
Greg Smith appears to have perfectly timed his departure to match the zeitgeist. Last year, Greg earned $500k according to the Wall Street Journal. Today, the New York Post reports that the bidding war for his book is nearing $1m.
“We’re sending this to your home because we thought your family would also be interested in knowing what your company stands for, and we hope you will, we expect that you will also live by these principles. This is what Goldman Sachs stands for.” (Marketplace)
Everything you could ever want to know about Singaporean hedge fund wonder Danny Yong. (Bloomberg)
Several London hedge funds have had an incredibly good start to the year. (Telegraph)
John Paulson recently told some employees he would reset the firm’s internal high-water mark to zero as of Jan. 1, said the person familiar with the matter, effectively meaning that if the company’s funds are in the black for 2012, those employees can collect bonuses pegged to this year’s returns and not be dragged down by last year’s losses. Paulson will pay for those bonuses himself, this person added. (CNBC)
Another redundant banker (this time an equity derivatives structurer) speaks to the Guardian. (Guardian)
Some in the industry whisper that it could already be “game over” for Nomura’s global ambitions. (Financial Times)
Multitasking ability declines with age. People in their early 20s tend to be the best multitaskers and the biggest decline is between ages 20 and 30. (WSJ)
By the time you know hiring a person was a mistake, you already feel sorry for him. (Econblog)