The Good, the Bad and the Ugly

Wall Street’s gain is often Main Street’s pain

Feet on the Street are constantly hunting for buried loot.  But the mad scramble can get a little messy. The stories are similar on the buy and the sell-side.

Wall Street houses have traditionally been some of the worst-managed organizations in corporate America. Shops in the City are probably not much better. Tribal warfare can leave organizations dead in the water.

Record profits at Goldman Sachs, Lehman Brothers and the rest might be a cyclical phenomenon, but these places are run differently than they were five years ago. Best-practices are beginning to reach into every nook and cranny...although the internecine squabbles will never go away.

Even some of the most vilified Wall Street firms are getting their heads together. Have you noticed a resurgence at Janus? Two-faced jokes were all the rage in 2002...right at Janus’ nadir.

But Janus might be a phoenix...Have you ever seen a fund with a first-percentile ranks in the trailing one-day, one-week, one-month, three-month, year-to-date, one-year, three-year and five-year periods?

Now you have

Damn

That dawg knows how to hunt

But there are plenty of mangy dogs roaming the Street

The next few months we will introduce you to The Good, the Bad and the Ugly on Wall Street.

Some fund managers might want to put their boots on.

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The content contained represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.
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