Inside Wall Street’s $8 Billion VIX Time Bomb
February 13, 2018

It was the hot trade on Wall Street, a seemingly sure thing that lulled everyone from hedge fund managers to small-time investors.

Now newfangled investments linked to volatility in the stock market — until a few years ago, obscure niche Continue reading

Goldman Takes One-Time $5 Billion Hit From New U.S. Tax Law
January 5, 2018

Goldman Sachs Group Inc. said the U.S. tax reform will cut profit this year by about $5 billion, mainly because of a tax targeting earnings held abroad.

About two-thirds of the hit comes from the repatriation tax, while writing down Continue reading

The Worlds Biggest Wealth Manager Wont Touch Bitcoin
November 24, 2017

UBS Group AG, the world’s largest wealth manager, isn’t prepared to make portfolio allocations to bitcoin because of a lack of government oversight, the bank’s chief investment officer said.

Bitcoin has also not reached the critical mass to be Continue reading

Everyone From Goldman Sachs to HSBC Wants a Piece of Saudi Banking
November 6, 2017

Saudi Arabia’s ambitious plan to transform its economy away from oil has global banks lining up for a piece of the action.

It’s already the busiest year ever for merger and acquisitions and financing deals in the kingdom and that’s prompting the world’s Continue reading

Everything Is Crazy and the Markets Arent Freaking Out
November 3, 2017

At Credit Suisse Group AG’s prime brokerage desk in midtown Manhattan, the phone hardly seems to ring anymore. Its hedge fund clients don’t call about Donald Trump’s tweetstorms and the stock market or ask what to do when terrorists Continue reading