With the box behind him
On Friday, at a dinner with friends, appeared from nowhere as one of my childhood friends. Nobody had it, since it makes at least a couple of years living in New York. When asked who was doing for these lands, told me that he had been working for JP Morgan (Pi Ji Morgan as they say) and that the merger with Washington Mutual were eliminated many jobs, and that one was him. For a moment I saw him crossing Fifth Avenue with a cardboard box filled with her cup of coffee for the fate of half a liter, a frame with a photo of his wife ... etc, in a picture as we saw for employees Lehman Bros.
Although he has apalabrado another analyst working in Manhattan, I knew how bad for him, it is never pleasant experience, but I found a perfect opportunity to talk face to face with someone who has lived the American financial crisis in its own meats, rising of gasoline in a country where the cars spend half unthinkable in Europe, the explosion of Lehman Bros, etc ...
As we were at a dinner with friends, nor could deepen much on the issue of crisis or much longer the issue, but what if I wanted to know was where was the daily work of an employee of an investment bank.
In a nutshell, he told me that they had observers in the areas Crusaders, for example observers of the oil market s / "title =" "> oil and other raw materials at international level, observers from several markets in one country (monitoring macroeconomic and political development of a country), observers from certain regions, etc ... and each gave their opinion of what they believed could happen. It crossed all these views and was produced a pattern of recommendations in terms of investment, which went to the links with its customers, mainly investment funds.
To all this I commented a couple of things, and what surprised me most was his response.
The first thing I told her was that if they had so many resources invested in observers, as might be correct that so little. I told her that even here they affectionately called "analistos" to what he skipped a smile. That told me that every worker is inside the chain of information and does not dominate the global, only its niche, and that eventually the bank tries to give guidance from many views. It is assumed that those who are further up the chain, can have a broader view. To tell me immediately came to mind a famous phrase that is included in some of the books on "The Law of Murphy" that comes to saying that "the decision of a committee is always worse than it could have given each its members separately. "
The other issue I raised was that it seemed to me that investment banks influenced unequivocally on the markets, meaning that not only were observers from the markets but with his recommendations for large funds, could divert funds to one sector or another to raise the price of certain goods and lowering the other. For this I recognized that "big" may "move the market" with lines between what I understood that if one day decide to go public, take the recommendations to tweezers of the great public.
For better and for worse of all is learned and the assurances of my friend helped me to see that in the current crisis is not only at risk because of the pawns of the construction and real estate agents as he could seem at first.
And finally, the usual summary of news from a very warm day in the markets:
- Awe stock market in Europe and Asia by new troubles in the European banking industry
- Money / 2008/10/05/economia/1223173238.html "> Solbes' concerned about the rapid increase in delinquencies'
- States unleash a war of deposits
- Germany saves Hypo Real State and will guarantee all deposits
- Mortgage s.html "> Solbes rejects" to help citizens pay their mortgages "
- Consequences of the lack of liquidity: A cathedral Brazilian accept alms with credit card
Good week at all.
Written by Oriolrc on October 6, 2008 with 283 points.
Read more articles on Euribor
- [+] Reddit: This article stresses
- [+] Del.icio.us: Add this article to Favorites
- [+] Furl: Add this article to Favorites







# 1, Kane
Congratulations for the video posted Saturday and by the change in the graph of the value of the Euribor. Now it looks much better and cool.
A greeting.