Word: traders
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...million shares on Thursday shattered the one-day record of 132.7 million that had been set only eight days earlier. Average daily volume before the current spree had been only 52.3 million shares. Says Donald Iseman, a partner in the Neuberger & Berman investment firm and a stock trader for 36 years: "I remember when volume was 1 million shares on a good day. If anyone had said that we would some day do 100 million shares, I think that he would have been institutionalized...
...Pershing securities firm. "You have 25 things to do at the same time, and you forget who you are." The rewards, though, have been well worth it. "I am giving away more business to other brokers than I usually do myself," exults James Reynolds, an independent floor trader...
Despite the possible resolution of the Cities Service crisis, Wall Street is still bitter toward Gulf. Grumbles one trader: "How does a company with Gulfs standing in the corporate community dare to lock itself into a $5 billion deal and then change its mind?" Ironically, Gulf was originally cast as the hero in the Cities Service drama. In June Cities Service was trying to escape an unwanted takeover bid by Mesa Petroleum, a relatively small Amarillo, Texas, oil firm. Unwilling to be controlled by a company less than one-twentieth its size, Cities welcomed Gulfs merger bid of $5 billion...
...peace last year in Gaines' Newbury, N.H., living room. He and his friends were jawing enjoyably about whether a city man, adept at taxi-dodging and expense-account padding, could possibly have the survival skills in the outback of a hardened countryman. Hayes Noel, 40, a trader on the floor of the American Stock Exchange in Manhattan, took the hell-yes position. The hell-no side was defended by Gaines, a novelist (Stay Hungry, Dangler) and writer for outdoor magazines, and Bob Gurnsey, 39, a New Hampshireman and sometime ski-shop owner...
Bankers and brokers spent much of last week trying to nail down how Drysdale pulled off its caper. Though the nearly four-month-old company employed about 30 securities traders and operated with little more than $20 million in capital of its own, it had managed to put together a $6.5 billion portfolio of U.S. Government bonds, bills and notes. More than $4 billion of that was borrowed. Said a top Wall Street bond trader of the bewilderingly complex financial structure of the upstart firm's activities: "It was the most astonishingly leveraged operation that I have ever seen...