http://www.1440wallstreet.com/index.php/site/index/ en Copyright 2008 2008-05-13T05:07:00-05:00 http://www.1440wallstreet.com/index.php/site/comments/wall_street_fumbled_the_ball_says_citdels_griffin/ http://www.1440wallstreet.com/index.php/site/comments/wall_street_fumbled_the_ball_says_citdels_griffin/#When:05:07:00Z
Ken Griffin has always been a belt and suspenders kind of guy; obsession with risk management has treated him well over the past few years. Although Citadel Investment Group might not make a fortune in their investment in E-Trade, or displace the Chicago Mercantile Exchange as the most liquid futures mart in the world, he has navigated the past few years in a fashion that recalls more Old Ironsides than the HMS Hood or the Titanic.

And while Griffin might be unsinkable and unflappable, he apparently is passionate too. An encounter Griffin had with Andrew Ross Sorkin at the recent Milken Conference reveals a bit about the reclusive man at the helm of Citadel:

Kenneth C. Griffin, who runs one of the biggest and most successful hedge fund firms, has a blunt assessment: “We, as an industry, dropped the ball.”

The breakdown happened, Mr. Griffin contends, when big investment banks gambled away money and jobs during the late great credit boom. The bosses let all those young gung-ho traders take far too many risks and now everyone is paying the price.... “As an industry, we have a responsibility to manage risk in a way that is prudent,” Mr. Griffin said matter-of-factly New York Times

Griffin is not directing all of his ire at the SellSide; regulators share some of the blame he is dishing out. And 29-year old traders, who are not as clever as they think they are.]]> Lead 2008-05-13T05:07:00-05:00 http://www.1440wallstreet.com/index.php/site/comments/research_in_motion_vs_apple_game_on/ http://www.1440wallstreet.com/index.php/site/comments/research_in_motion_vs_apple_game_on/#When:16:45:01Z
RIM set the stage for this epic battle over a year ago:

Jim Basillie
“Apple has done us an enormous favour by saying you should expect music on your cellphone,” he said. “[But] I think it’s 10 if not 100 times harder to do the communications aspect onto an MP3 player than to do the mass media player onto a communications framework. I think we’ll absolutely nail it before some new entrant comes even close. You know, everyone’s brave in the locker room. Let’s get it done.”

Although RIM is unlikely to update its financial guidance heading into its big shindig Monday in Orlando, FL, the stock has run up igoing into the Wireless Enterprise Symposium (WES), which will be webcast from RIM's website.

Avian Securities has done their homework, and are weighing in on the chances the Blackberry 9000 makes its debut, along with international distribution efforts:

We believe management will also focus attention on key initiatives in the areas of distribution, software, and applications. RIMM continues to drive direct carrier distribution in overseas markets. The company also bolstered its indirect distribution with the recently announced agreement with Brightpoint (CELL). Avian Securities]]> Lead 2008-05-09T16:45:01-05:00