Good movie. Also a great reminder to never underestimate the greed, hubris, ignorance, incompetence and dishonesty of Big Bank executives.
6 replies (most recent on top)
You think Bank CEO's are bad, try Big Tech CEO's. Those guys are running giant peeping tom organizations.
“Even Wachovia blew us off” 🤣🤣
Have been to a hedge fund, it is really different from movies. Hollywood is at least 10 years out of date. I don't believe there are many American workers as the movie now.
In real life, the hedge funds I know have large number of workers from China.
(1) The best way to learn company's business secrets is to be a major shareholder using other people's money. There are books on these topics too.
(2) H1B visa farm for highly educated graduates
(3) You can't run an emerging market fund without Chinese citizens because you would not be allowed to trade those securities. They protect their workers.
If you heed to the annual compliance training program you’ll be fine.
Executives of Wall Street’s Big Banks are known for taking a good idea and turning it in to an atomic bo-b of fraud and stupidity.
It’s happening today with massive Stock Buybacks to boost executive stock options and pay, offshoring of US jobs, fee-based accounts (designed to benefit brokerages, not customers), managed money with sun-par returns, the race to the bottom with ruthless cost-cutting, the single- minded focus on quarterly earnings, excessive fees for complex services and products, and sales goals and rewards which encourage customer exploitation.
Enron The Smartest Guys in the Room is a must see as well. Fantastic documentary currently on Amazon Prime.