Originally posted by threaded
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Reply to: Why is Goldmine Sachs so successful?
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Previously on "Why is Goldmine Sachs so successful?"
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Blah blah, Goldman Sachs is just at it again with another of their world renowned Ponzi schemes.
Clever people? Maybe at keeping you all watching one hand whilst they fleece you with the other.
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Goldman Sachs staff work longer hours and are paid a lot more generally, their interview process is quite rigourous, they usually don't take on contractors and its usually 5 stages where they often get judged by two members of staff simultaneously. Too much for most to handle basically.
Although I have heard the old "You will receive no bonus this year and you should be greatful that you work at such a prestigious place" scam done to staff there who promptly left.
Not everyone can get the money they expect in these places but Goldman Sachs is the cream of the crop, a small bank full of extremely intelligent people basically.
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Why is Goldmine Sachs so successful? Hmm, well one could list the startling differences in corporate culture between itself and the other banks, but they are not politically correct.
Easier to say they've made some lucky punts recently.
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Originally posted by BrilloPad View PostLike you might think I came up with that?
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Originally posted by BrilloPad View Post'What separates the winner (like Goldman Sachs) from the losers (such as Morgan Stanley)
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oh yes - this article came from elsewhere :-
http://news.hereisthecity.com/news/b...ews/7377.cntns
Like you might think I came up with that?
I know there are a small minority here who get really upset if they feel they have been duped. Despite this being a site for contractors who are supposed to be in business and so should be permanently on their guard.
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The secret of their success?
It's easy, they're part of the NWO and Zionist plot to take over the world, innit?
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Why is Goldmine Sachs so successful?
'What separates the winner (like Goldman Sachs) from the losers (such as Morgan Stanley) in this year's Wall Street money-making game is the way information flows among decision-makers. The winning firm encourages vigorous information flow and intense debate about decisions across different levels of the organization. The losing firms shoved decisions from the top down the throats of traders who executed them.
This came to mind in reading a story about Morgan Stanley's recently departed co-president in The Wall Street Journal. Cruz reportedly 'set a tone in which she didn't welcome dissent once higher-ups made decisions about trades. Communication broke down among some of the key decision makers involved in vetting the mortgage trades'. The lack of communication contributed to Morgan Stanley's decision to make a largely unhedged bet on Collateralized Debt Obligation (CDOs) - one that cost it $9.4 billion in write-downs.
By contrast, as I discussed on CNBC, Goldman encouraged debate between its CFO and COO and a then-lowly proprietary trading desk. This debate led to the successful decision to bet heavily on a decline in the ABX which helped Goldman generate $4 billion in profits - more than offsetting the $1.5 billion to $2 billion worth of losses from its CDO holdings.
Like Stanley O'Neal, Morgan Stanley's John Mack also suffers from Goldman envy. But they both misunderstood Goldman's secret sauce - it wasn't so much the proprietary trades as the process of debate that led to those money-winning bets. And that's an advantage that any competitor will find hard to copy'.Tags: None
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