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Who knew what, and when?
Many questions remain after the swift shutdown of Visium, the one-time hedge fund darling whose closure rocked the investing community.
One question rings loudest, however: Who saw this coming?
The answer, it seems, is plenty of people.
Goldman Sachs has been cutting jobs again. The US bank cut 30 traders and salespeople across equities and fixed income in New York earlier this week, according to a person familiar with the matter.
A Goldman Sachs partner also denied banging his shoe on a table in anger at a former salesman in a UK court case. The lawyer examining Andrea Vella, co-head of Asian investment banking, referenced a text message from the salesman asking for permission to return the call of an executive at the Libyan Investment Authority.
Elsewhere in bearish news:
- Stocks have come roaring back since Brexit. So everything’s fixed, right?
- Brexit may be merely the ‘precarious calm’ before the real storm
- Here’s who is going to get crushed by the coming ‘tsunami’ in the debt market.
A Wall Street analyst summed up the collapse in online lending in two brutal sentences.
Lastly, here are the four things every modern gentleman needs for a Fourth of July weekend.
Here’s the best of the rest in Wall Street headlines today:
Satya Nadella just showed why he’s a better CEO than Elon Musk – In the past month, two major tech companies announced surprising deals.
Here’s what Marissa Mayer told upset investors asking about Yahoo’s decline – Yahoo’s business has been declining for years, and investors are not happy about it.
All of a sudden, US companies are getting a lot more optimistic – More S&P 500 companies have issued expectations for earnings over the next fiscal year that are above the average analyst estimates than below.
The way we approach one of the most important concepts in investing is flawed – The approach to investment diversification that focuses on regions is flawed and limiting.
TOM LEE: Here are 5 reasons stocks will keep going up – Brexit is a “fundamental negative,” but US stocks will continue to climb in the days ahead, according to Fundstrat’s Tom Lee.
Gold is still stuck in a ‘bear super-cycle’ – The precious metal jumped as much as 7% the day after the UK voted to leave the European Union and has stayed elevated since.
Federal investigators are looking into a connection between Tesla’s Autopilot and a fatal crash – Federal investigators are looking into possible connections between Tesla’s Autopilot system and fatal crashes.
Elon Musk might be getting a ‘steal’ with his latest controversial deal – Elon Musk surprised everyone last week.