Quotes of the Month
"Algorithmic trading can be shit sometimes"
Klaus Timpel, head of equity trading at Deutsche Asset Management, speaks his mind at Trade Tech, an equities trading conference in Paris that is otherwise normally an algorithmic love-in
"In five years’ time the floor of the New York Stock Exchange will be a restaurant"
Dushyant Shahrawat, a senior consultant at Tower Group, draws knowing laughs from a conference audience with an office joke/prediction
"What we make is insane and, yes, it is too much. Applying income tax to the 20% carry rather than capital gains tax is not going to change that though"
Marc Lasry, founder of Avenue Capital Group
"I call it the revenge of the nerds"
Andrew Lo, a professor at Massachusetts Institute of Technology, and director of the university’s Laboratory for Financial Engineering, talks about the boom in quantitative staff
""We were trying to set up a new account for a Saudi prince. We had to go to the FSA for approval. They wanted us, among other things, to show them a copy of a utility bill addressed to the prince at his address in London. Like he’s ever seen an electricity bill!"
One wealth manager shows why the UK’s FSA has earned its reputation as the most rigorous financial markets regulator
The term covered bond has been used, over-used and one could even say abused..."
Georg Grodzki, global head of investment-grade credit research at RBC Capital Markets