The past three years have been among the best ever for investment banks. Record bonuses, plenty of j...
The past three years have been among the best ever for investment banks. Record bonuses, plenty of jobs and new ways to make money. If you couldn't get ahead, you were in the wrong trade. Now, however, while the industry isn't about to crash, the first half of 2006 could well be viewed as a high watermark that won't be seen again for several years. As the global economy slows, and the era of ultra-cheap money comes to a close, the seas are about to get much choppier. Investment banks like to dress up their business in fancy concepts, but at heart they are traders in financial markets. A...
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