Goldman Sachs; Morgan Stanley; Merrill Lynch; Lehman Brothers and Bear Stearns are about to reward their 173,000 employees with $36 billion in bonuses. That's a 30 percent increase from last year's record, and it doesn't include the billions more that will be paid by Citigroup, Bank of America and JPMorgan Chase & Co., the three largest U.S. banks, as well as the hundreds of hedge funds and private-equity firms that constitute the financial industry. Bonuses range from $150,000 to over $20 million. Managing Directors bonuses range … (0 comments)
"Power Corrupts, and Absolute power corrupts absolutely!" (Historian Lord Acton) Just as real estate is local so is politics. Just as real estate goes in cycles so does politics. Local economies affect the real estate market local economies affect politics and both go in cycles. New York State politics has always gone in cycles. Today a democrat will be elected Governor of New York State for the first time in twelve years. Eliot Spitzer the current NYS Attorney General will become the newly elected Governor. He made a name for himself by taking on Wall Street and the Insurance … (8 comments)
wall street: It's Best To Buy And Sell In The Same Market
- 09/20/06 06:38 AM
In real estate it is very difficult to time the market. Markets go in cycles there are tops and bottoms. Bottoms are usually created by pessimism and negativity. Tops are created by “irrational exuberance" To quote Jim Cramer on CNBC's Mad Money “Bears make money – Bulls make money but Pigs get slaughtered." The Fed created the boom in housing by lowering interest rates then they ended it by raising interest rates to take “the froth” out of the housing market. Maybe they will change their mind again. When everyone is bearish based on sentiment rather than the facts, that … (5 comments)
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