About Goldman Sachs The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals in some 25 countries. The firm was founded in the year 1869, and is headquartered in New York. […]
HSBC HSBC Holdings plc also known as HSBC commonly is a British multinational banking and financial services company. The company is headquartered in London, United Kingdom and is the world’s third-largest bank and sixth-largest public company according to a composite measure by Forbes magazine (as of 2012). It has around 7,200 offices in 85 countries […]
Job Cuts in the Esteemed Investment Banks The retrenchment in the Investment Banking Business seems to be never ending with a DB report predicting further job losses in the sector. Despite making a massive $240 billion in revenues last year, the industry has to shed more positions in order to become sustainably profitable. There is […]
I have always said that investing in Indian mutual funds is a dumb idea given the lack of regulation , under performance, high fees and front running and fraud conducted by mutual fund managers. It is best to invest in a good ETF with low fees such as the Nifty Bees ETF which was one […]
The Indian Mutual Fund and Asset Management Companies are facing tough times and foreign asset managers are exiting in droves. Fidelity has put up its $2 billion of funds on the auction block trying to find a buyer as it exists India. This is only after a couple of months when Blackstone another of the trillion dollar asset managers existed the Indian business. In 2008 during the boom times, every Tom Dick and Harry of the asset management business wanted to get a piece of the Indian pie. The local brokerages were commanding super high valuations while growth and profits seemed endless.
While the larger stock brokers have seen reduced profits,the smaller ones have had to shut down or sell.This trend has been exacerbated last year with the rise of computer controlled algorithmic trading.Most of these small brokers which used arbitraging strategy to generate profits have seen their main business evaporate.Retail investors in India have also avoided the stock market which has become a corruption landmine.With even top institutions like GMO,Goldman becoming victims of frauds,individual investors have no chance.Also market operators have made the Indian stock market a pump and dump heaven even as SEBI takes a long time to crack down on the abuses.