The Big Picture

SEPTEMBER 23, 2024

That whole distressed debt department at city 00:06:31 [Speaker Changed] Banks are wanting to sell? I work for a really senior guy in the investment bank. It was very much a brokerage house with a growing, expanding investment bank. It wasn’t really a proprietary investing trading culture.

Debt 57

Debt Leveraging Banks Leveraged Buyouts 57

The Big Picture

MAY 9, 2023

Investment banks were not really a known concept in the area where I grew up. SALISBURY: Generally, it’s asset liability mismatches that causes bank failures, but it also causes, in some cases, hedge fund failures and other financial institutions to fail. Pension funds have quite long-dated capital.

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Liabilities Assets Banks Hedge Funds 117

The Big Picture

MAY 23, 2023

BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, another extra special guest, Robin Grew, President of Man Group, $145 billion publicly traded hedge fund in the UK, and soon to be Man Group’s CEO. RITHOLTZ: Sure, all the little banking things, yeah. RITHOLTZ: Uh-oh. GREW: I know, this seems to be a process.

Hedge Funds 62

Hedge Funds Financing Finance Funds 62

The Big Picture

SEPTEMBER 10, 2024

Mike Wilson has been with Morgan Stanley since 1989, rising up through the ranks of institutional sales, trading, investing, banking to eventually becoming Chief Investment Officer and Chief US Equity Strategist. So I was really investment banking. What was that experience like? What was your trading career like?

Companies 62

Companies Investing Hedge Funds Pension Funds 62

The Big Picture

JULY 24, 2023

And so for the longest time, I actually thought that my unconventional background, I wasn’t an Ivy League student, I didn’t train at an investment bank, I wasn’t working for a hedge fund, I started my career as a bank teller. And the last rule is no one leaves without a hug.

Banks 52

Banks Hedge Funds Debt Legal 52

The Big Picture

JUNE 13, 2023

So that was a while back, but nonetheless, I don’t know if it was love at first sight, but we got to get along pretty well, and after a few years working for investment banks, he then joined Goldman Sachs. I joined, effectively, Deutsche Bank. We decided to try to have a go on our own. We were 28, 30 respectively.

Banks 57

Banks Asset Management Assets Capital 57

The Big Picture

FEBRUARY 28, 2023

I was actually running the Investment Banking Club at BYU, and you know, thought I was interested in that, interested in going to Wall Street. Look, our parents all had pension funds. LAYTON: — sources of funds for our industry is going to change as a result of that. Our kids are all going to have 401(k)s.

Assets 57

Assets Due Diligence Private Equity Firms Private Equity Firms 57

The Big Picture

MARCH 12, 2024

So that, that sort of put Amherst on a different pact because prior to that, our core business model was investment banking, brokerage market making, and underwriting. So we, we do business with most of the sovereign wealth funds, most of the big US national insurers, global insurers, the largest pension funds.

Hedge Funds 57

Hedge Funds Banks Assets Capital 57

The Big Picture

DECEMBER 20, 2022

KOENIGSBERGER: — you know, when I got to Merrill in 1995, and you looked at the trade blotter of who you were trading with, it was basically banks trading with each other. So there was a tremendous amount of proprietary trading, you know, hedge funds in the back book, a little bit of a front book.

Debt 62

Debt Hedge Funds Banks Assets 62

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. KENCEL: It’s the investment banking affiliate.

Private Equity Firms 57

Private Equity Firms Private Equity Firms Financing Finance 57

The Big Picture

APRIL 11, 2023

DAMODARAN: Or it could be some unique characteristic, pension funds pay no taxes. It’s because they wanted to get back at the hedge funds. We’re going to bring the hedge funds down, which is interesting because some of the biggest hedge funds were making money from this.

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Education Financing Finance Taxes 117