The Big Picture

MAY 9, 2023

Investment banks were not really a known concept in the area where I grew up. One, when people have asked me to compare and contrast today versus 2007, 2008, what you hear from a lot of people is, yes, there’s some fairly heady valuations. There were some fairly aggressive kind of investment strategies being pursued.

Liabilities 119

Liabilities Assets Banks Hedge Funds 119

The Big Picture

AUGUST 8, 2022

So, until the financial crisis of 2007 and 2009 or however you go — you actually time it, I was in this finance bubble. In the financial crisis, let’s remember, Goldman Sachs and Morgan Stanley became bank holding companies. ADMATI: They were investment banks. I was teaching corporate finance. RITHOLTZ: Right.

Banks 81

Banks Debt Financing Finance 81

The Big Picture

JANUARY 9, 2024

But there’s also a lot of, like at Wittel, you know, I was at Wachtel in 2005 to 2007, so really near the peak of a big merger’s boom. Barry Ritholtz : 00:06:24 So how do you, how do you shift from m and a legal work to structuring derivatives at Goldman? And I love that. I thought that was really fun.

Mergers and Acquisitions 52

Mergers and Acquisitions Law Firms Hedge Funds Financing 52

The Big Picture

APRIL 4, 2023

And what was fascinating about Drexel and kind of the diaspora, if you will, of that era was that we all basically went out looking to take that experience, particularly in high yield and kind of buyouts and financing, and do it at either banks or other investment banks. RITHOLTZ: We call that legal insider trading.

Private Equity Firms 59

Private Equity Firms Private Equity Firms Financing Finance 59

Pension Pulse

JULY 4, 2023

consortium, led by Australian investment bank Macquarie, that acquired Thames Water from Germany’s RWE AG for £8 billion. There's no indication that Macquarie or anyone named in this article did anything legally wrong at Thames Water, but the financial gyrations it performed as the utility's owner are contentious. "I

Pension Funds 52

Pension Funds Debt Shareholders Stakes 52

The Big Picture

DECEMBER 14, 2022

But I think, you know, even just 12 or so years ago, when I joined the firm, you’d have senior professionals with legal pads, taking notes and meeting, saying, what did we just learn from that sale? And using those notes to kind of inform the thinking around next investment choices — RITHOLTZ: Not exactly cutting edge?

Assets 64

Assets Mergers and Acquisitions Capital Portfolios 64

The Big Picture

AUGUST 23, 2022

Asset management group had made an argument and then the investment bank says, he works here, and then the emerging market people say, what about us, and it was going on and on. And so, in the 23rd of December 2007, two days before Christmas, they applied for $230 million fraudulent tax refund. This is not legal.

Legal 128

Legal Banks Law Firms Taxes 128