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Henry P. Kidder, co-founder of Kidder Peabody c. 1908. Kidder, Peabody & Co. was established in April 1865 by Henry P. Kidder, Francis H. Peabody, and Oliver W. Peabody.The firm was formed via reorganization of its predecessor company, J.E. Thayer & Brother, where the three founders had previously worked as clerks.
The company's name 'SAC Capital' derived from Steven A Cohen's initials. [9] The company started trading with $25 million in 1992, grew its assets under management to $16 billion, and became the world's highest-returning hedge fund: SAC averaged annual returns of 30% net of fees under a 3% management fee and 50% performance fee from 1992 to 2013.
October 14, 2008: Having been suspended for three successive trading days (October 9, 10 and 13), the Icelandic stock market reopened on October 14, with the main index, the OMX Iceland 15, closing at 678.4, which was about 77% lower than the 3,004.6 at the close on October 8, after the value of the three big banks, which had formed 73.2% of ...
[1] [2] Others have argued that this crisis represents a reset of economic activity, rather than a recession or cyclical downturn. [3] [4] In September 2008, major instability in world financial markets increased awareness and attention to the crisis.
In finance, a dead cat bounce is a small, brief recovery in the price of a declining stock. [1] Derived from the idea that "even a dead cat will bounce if it falls from a great height", [ 2 ] the phrase is also popularly applied to any case where a subject experiences a brief resurgence during or following a severe decline.
[1] LTCM was founded in 1994 by John Meriwether, the former vice-chairman and head of bond trading at Salomon Brothers. Members of LTCM's board of directors included Myron Scholes and Robert C. Merton, who three years later in 1997 shared the Nobel Prize in Economics for having developed the Black–Scholes model of financial dynamics. [2] [3]
The boundary between the "trading book" and the "banking book": [10] i.e. assets intended for active trading; as opposed to assets expected to be held to maturity, usually customer loans, and deposits from retail and corporate customers; [11] important since the "vast majority of losses were from trading books during the 2008 crisis" [1]
Crowd gathering on Wall Street after the Wall Street Crash of 1929. Contrary to a stockbroker, a professional who arranges transactions between a buyer and a seller, and gets a guaranteed commission for every deal executed, a professional trader may have a steep learning curve and his ultra-competitive performance based career may be cut short, especially during generalized stock market crashes.