So a number of my clients are talking about cash. They are fed up with volatility and want to preserve capital so are dressing up in orange robes and seeking salvation. I don't blame them although cash is just as volatile.
Being worth $10million last year isn't the same as being worth $10million this year. It sounds the same but if you are unhappy this year and would be happier if you had $12million then its not the same. What am I talking about? Bollox mostly.
Hedge Fund managers have always enjoyed cash bonuses but alas no more. (cityam) As usual the regulators have missed the point. If I charge 2 and 50 then its not a bonus, its just a fee. They cannot cap that. If a fee is deemed a bonus then we are all in big trouble. What do I get instead? I am already the owner in my company, why would I want share options? These people are stupid, really dumb.
The King Is Cash (bloomberg)
Spain: At Long Last The CRAs Wake Up (bloomberg)
Cash No More For Bankers (bbc)
Short Fat Totty In The Money (hitc)
Regulators Get Jobs At Hedgies (reuters)
Brits To Live In Mud Huts (telegraph)
UK Residential Property 27% overvalued (thisismoney)
UBS Goes After Highland Again (dealbook)
Free Lunches (allaboutalpha)
AIG Was A Good Company (independent)
RBS to be renamed the Green Investment Bank.