Just wondering what people are saying internally.
my friend does - in hong kong - he said to me “there is nothing i can do about what’s going on” In other words, BOOM!
Right here. The mood at work is quite bleak. Some seniors at work say we are on our deathbed. Some don’t even show up to work. Others have become smart and have left to go elsewhere. I’ll take my chances and go down with this ship.
I am in the same boat but on buyside (hedge fund). We were 2.8 billion and now are 600mil and down 40% for the year. I dont know what to do, there is like no point to even try at work anymore because you will know it will go unrewarded. Guess just stick it out till the end of the year and pray for a good severance and try to find a job elsewhere
hausm - may i ask what your HF lost money on this year that you’re down 40% (specific trades, sectors etc)? what leverage did you employ?
40% sounds like atticus, but clearly you are a smaller shop. what strat are you guys? please dont tell me you were shorting vol
let me guess how you lost money… liquid positions turned illiquid and redemptions forced selling into down market… same happen here, hearing MOST HF are in BIG trouble
Atticus runs $12 billion (used to) - its not Atticus
Lehman’s mkt cap fell below Jefferies Group for a moment today.
My sympathies to LEH employees. Any equity analysts? Are you guys still pushing out your morning reports?
MFE, there was something on reuters today about Jef undergoing substantial growth right now because there is so much talent on the street to pick up. apparently they didn’t get burned by real estate. and, the smart guys at LUK have made a large investment in jef as well.