So, I think everyone knows or feels that the stress test will be a managed success. The results will demonstrate financial stability. I think there might be even an appropriately managed outcome in the negative for some of the analyzed banks (after all they cant let everyone get an A on the test and be credible can they?) What the real question is, though, is whether or not a happy stress test is priced right in the market? Will the results be announced and the retail public scramble to jump back into the pool? Or will we all sell the (more…)

As we all know, equity trading has forever changed.  Bulge bracket firms are breaking up and dismantling their trading desks.  Many of the “sales traders” at these firms are moving on to smaller, boutique brokerage firms where they hope to establish a book of business with their clients that they covered at their previous firms.  Relationships still matter on Wall Street.  But so does execution.  Many of you have probably seen the monk e-mail going around Wall Street where the sales trader calls on one of his old clients to get some business.  If you missed it , here it (more…)