-- 作者： rainbow -- 發表時間： 2005/11/09 11:29am 華爾街券商今年慶豐收 業績躍升獎金水漲船高 紅利增幅約5%至10%間 薪酬總計將達320億 2005-11-09 世界新聞網 【本報綜合八日電訊報導】對於華爾街券商來說，今年是獲利頗豐的一年，然而令交易商與銀行家更高興的是，他們的獎金也將水漲船高。 據薪酬諮詢業者強生合夥公司（Johnson Associates）的調查，[b][color=red]華爾街今年的獎金將增加，其升幅在5%至10%之間，為連續三年在該幅度之間成長。業內人士說，投資銀行因為併購活動增加、避險基金增加帶動其主要經紀業務以及交易盈餘上升而受益。[/b][/color] 強生合夥的副總裁魯斯特說，第三季度通常是一年中最疲軟的一季，但今年卻非常特別，或許是最強勁的一季度，因此有助於提振全年的業績。而全美最大的券商美林證券公司（Merrill Lynch）的分析師默茲克魏斯基（Guy Moszkowski）預期，今年華爾街的整個薪酬金額將達到320億元。 雖然華爾街券商與銀行家的年薪通常大約在10萬至15萬元之間，但是他們獲得的獎金可能是該數字的幾倍。投資銀行董事總經理（Managing Director）的總收入可能為200萬元或以上。 主管人力資源業者選擇集團（Options Group）估計，今年負責全球併購業務的主管收入可能比去年成長20%到40%，大約為800萬元到900萬元之譜。 路透報導，著名投資銀行如高盛（Goldman Sachs）、李曼兄弟（Lehman Brothers）與美林證券的營收來源主要是公司併購增加與能源交易；而貝爾斯登（Bear Stearn）、摩根史坦利（Morgan Stan-ley）與商業銀行花旗集團(Citigroup)與JP摩根大通(JP Morgan Chase)等則受益於投資銀行與資本市場業務。 紐約州審計長何維西（Alan Hevesi）估計，華爾街今年的盈餘可能攀升13%，達到144億元。 [b][color=red]此前有報導說，鑒於員工獎金增加，為了防止員工拿到獎金就「跳槽」轉換公司，一些投資銀行規定，離職至少需要三個月或者半年之前提出申請。 [/b][/color] -- 作者： rainbow -- 發表時間： 2005/11/09 11:31am [這篇文章最後由rainbow在 2005/11/09 11:33am 第 1 次編輯] http://www.bloomberg.com/apps/news?pid=10000087&sid=aabVPVCYJF3Y&refer=top_world_news# <pre>Wall Street May Earn $24 Billion as Banks Emerge From Scandals Last Updated: November 9, 2005 00:02 EST Nov. 9 (Bloomberg) -- After paying more than $12 billion in fines and settlements over four years, Wall Street firms including Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc. are headed for their biggest profits since 2000. The U.S. securities industry will earn at least $24 billion before taxes in 2005, said Frank Fernandez, chief economist at the Securities Industry Association. Executives at the group's annual meeting, starting today in Boca Raton, Florida, will ``undoubtedly'' be more optimistic than last year, he said. ``As far as the scandals are concerned, that's largely been put behind us and the fines are mostly paid,'' said Robert Torray, who oversees about $6 billion at Bethesda, Maryland- based Robert E. Torray & Co., including shares of Goldman, JPMorgan Chase & Co. and Bank of America Corp. ``It may be a lot of money, but it's not enough to put a dent in the business.'' Goldman, Lehman, Merrill Lynch & Co. and Bear Stearns Cos., all based in New York, reported record third-quarter earnings as bond trading surged and banks advised on $942 billion of U.S. mergers, data compiled by Bloomberg show. Merrill's brokerage unit is having its best second half in five years. Charles Schwab Corp., with more than $1 trillion in customer assets, reaped the biggest third-quarter profit since 2000's Internet- fueled heights. The 12-member Amex Securities Broker-Dealer Index jumped 22 percent so far in 2005. The Standard & Poor's 500 Index rose less than 1 percent. ``Business is picking up,'' said Gordon Hing, 71, chairman of Emmett A. Larkin Co. in San Francisco, which processes trades for brokers. ``We're optimistic for 2006.'' Mutual Fund Crackdown A year ago, executives gathered in Florida after mutual funds such as Boston-based Putnam Investments and Janus Capital Group Inc. in Denver agreed to pay almost $3 billion in fines and restitution for improper trading, the result of a regulatory crackdown spearheaded by New York Attorney General Eliot Spitzer. That was on top of the $10 billion that New York-based Citigroup Inc. and firms including Credit Suisse First Boston and Merrill paid or set aside for regulatory probes of biased stock research and the bankruptcies of Enron Corp. and WorldCom Inc. While those investigations have been completed, another has begun. Refco Inc., once the largest independent U.S. futures broker, collapsed a week after its chief executive was arrested for securities fraud. The now-bankrupt company raised $670 million in an August initial public offering led by Bank of America in Charlotte, North Carolina, Goldman and CSFB, the investment banking unit of Credit Suisse AG in Zurich, Switzerland. Spokespeople at the three firms declined to comment. Last year's SIA gathering invoked the banner ``Commitment to Clarity.'' This year, it's ``Creating Opportunities.'' ``Lessons have been learned and we've moved on,'' said Fernandez of the SIA. ``We've had a very good year. It may be an exceptional year, depending on how the fourth quarter goes.'' Bonuses The increase in profits mean bonuses for New York-based employees of securities firms will be about 10 percent higher than in 2004, or $17.5 billion, according to compensation consultants. Last year, Wall Street firms awarded about $15.9 billion, said New York State Comptroller Alan Hevesi. Most of the biggest firms pay about 50 percent of revenue in compensation, and bonuses can be as much as 12 times base salaries. Investment bankers and executives who cater to hedge funds can expect a 20 percent rise in their bonus this year, according to a report yesterday by compensation consulting firm Johnson Associates Inc. A typical managing director at an investment bank will probably take home about a $1.2 million bonus this year, compared with the average award of $1.5 million at the market's peak in 2000 and $1.05 million last year, the report said. ``The impressive financial performance delivered by the major brokerage and investment firms in the third quarter should solidify a third consecutive year of higher incentives,'' Alan Johnson, the firm's president, said in the report. Cox, Thain, Glauber This week's gathering in Florida may provide clues to the direction of the Securities and Exchange Commission under its new chairman, Christopher Cox, who is scheduled to address the gathering on Nov. 11. Cox will speak on ``pressing issues'' confronting the securities industry, according to the SIA schedule, which wasn't more specific. Other speakers at the three-day event include John Thain, the former Goldman president who became chief executive officer of the New York Stock Exchange in January 2004; Robert Glauber, chairman of market regulator NASD Inc.; and James Gorman, who will take over New York-based Morgan Stanley's individual investor unit in February. It's the first time in at least three years that a CEO of a Wall Street firm hasn't been lined up to speak. Comedian Dennis Miller, 52, is scheduled to entertain conference attendees tonight as they gather at the Boca Raton Resort & Club, established in 1926 on 356 acres that has two golf courses, six swimming pools and 30 tennis courts. Brokers Benefit ``Market conditions for securities firms are probably as ideal as they could get,'' said Bob Stein, 56, chairman of the global financial services group at Ernst & Young in New York. ``Merger activity is up, stock offerings are up, trading businesses are doing well. There have been a lot of regulatory issues, but underlying performance hasn't been impacted negatively.'' New York-based Merrill, the world's biggest brokerage, last month said third-quarter revenue at its private client arm, which caters to individuals, was $2.7 billion, the most since the fourth quarter of 2000. Schwab, based in San Francisco, said third-quarter revenue climbed to $1.1 billion, also a five-year high. Merrill Lynch is a passive, minority investor in Bloomberg LP, the parent of Bloomberg News. Margin loans, offered by brokerages to clients seeking to finance securities purchases, have rebounded to levels not seen since 2000 and totaled $218 billion among all member firms in the month of September, the NYSE reported. At Boston-based Fidelity Investments, the world's largest mutual fund firm, daily trades on which it collects commissions rose 61 percent in the third quarter, the highest quarterly average since the second quarter of 2000. A.G. Edwards Inc., which has about 7,000 brokers, said second-quarter revenue rose 10 percent from a year earlier to $673 million. The St. Louis-based company said revenue from commissions rose 8 percent as customers traded stocks more frequently. To contact the reporter on this story: Gregory Cresci in New York at  [email protected]. </pre> -- 作者： az259 -- 發表時間： 2005/11/09 07:35pm a bunch of them are just bs-ers -- 作者： rainbow -- 發表時間： 2005/11/16 11:16am <pre>Hey az259 This will make you smile a bit. Morgan Stanley is one of the exception, it didn't do great this year - only certain units such as prime brokers who service the Hedge Funds clients, and bankers who sell interest rate derivatives did well. Morgan Stanley is planning to fire about 25 Managing Directors in the units that didn't do well - the firing is worldwide. [b]Morgan Stanley to Fire Two Dozen Senior Bankers as Bonuses Loom [/b] Nov. 16 (Bloomberg) -- Morgan Stanley, the only major U.S. securities firm to report lower third-quarter earnings, will fire about two dozen senior investment bankers, said a person with direct knowledge of the plans. [b]As many as 25 managing directors will be told this week they're no longer needed, said the person, who declined to be identified. The cuts, which affect bankers in offices around the world, mark the biggest shakeup in Morgan Stanley's investment- banking unit [/b]since Walid Chammah, 51, was made global head of the group in August. Morgan Stanley spokesman James Badenhausen declined to comment. Chief Executive Officer John Mack, attempting to lift net income and the company's stock price, announced plans to eliminate more than 1,000 brokers in August. Mack, 60, who yesterday said he plans to double earnings at the New York-based firm in five years, also has eased out board members and executives, including John Schaefer, head of the brokerage for individual investors, and asset management chief Mitchell Merin. ``I've said to our managers, `we need to manage our business,''' Mack said in an interview after a Merrill Lynch & Co. investor conference in New York yesterday. ``Everyone looks at the portfolio of people and in looking at that there may be some changes. A lot of it is the year-end process.'' [b]Morgan Stanley, which has more than 1,000 managing directors worldwide, reported an 83-percent drop in fiscal third-quarter net income, dragged down by $1 billion of costs from the planned sale of an aircraft leasing unit. [/b] `Performance Has Lagged' Mack was appointed CEO in June, replacing Philip Purcell who left amid pressure from shareholders. Morgan Stanley's stock fell 40 percent during Purcell's final five years in the job. Mack worked at Morgan Stanley from 1972 to 2001. He then ran Credit Suisse First Boston, the securities unit of Zurich-based Credit Suisse Group, for about three years until mid-2004. [b]Shares of Morgan Stanley are down 0.6 percent this year, trailing the 25 percent advance of the Amex Securities Broker/Dealer Index. The stock closed 44 cents lower yesterday at $55.17. [/b] In remarks to investors at the Merrill conference, Mack called for improvements to ``almost every'' businesses. ``Make no mistake, our performance has lagged the industry,'' he said. Mack named former debt capital markets banker Chammah to run investment banking, including mergers and acquisitions. Chammah replaced Cordell Spencer and Michael Uva, who were appointed by Purcell five months earlier. Uva left in September after 20 years at Morgan Stanley. M&A Fees Stock and bond underwriting accounted for $510 million of Morgan Stanley's investment-banking revenue in the third quarter, up 27 percent from a year earlier. Fees from mergers and acquisitions increased 25 percent to $388 million. Morgan Stanley ranks second behind Goldman Sachs Group Inc. among M&A advisers, with a 25 percent market share, according to data compiled by Bloomberg. Morgan Stanley in September named Franck Petitgas and Hans Schuettler as co-heads of European investment banking, selecting two bankers with a background in selling stocks and bonds over those who advise on mergers and acquisitions. The planned firings at Morgan Stanley are being decided as the firm considers year-end bonuses. Bankers and traders are typically told the size of their bonuses two weeks after the end of the fiscal year on Nov. 30. Firms including Morgan Stanley, Goldman Sachs, Lehman Brothers Holdings Inc. and Bear Stearns Cos. will announce bonuses in mid-December. More than 150,000 New York bankers, brokers and traders are in line for payouts of two to 12 times their base salaries, executive-search firm Options Group said last month. To contact the reporter on this story: Gregory Cresci in New York at  [email protected]. Last Updated: November 16, 2005 02:06 EST </pre> -- 作者： rainbow -- 發表時間： 2006/01/12 11:11am [這篇文章最後由rainbow在 2006/01/12 10:17am 第 2 次編輯] <pre>[b][color=red][size=4]2005 年華爾街 Bonus 是:  二百一十五億 美元 (21.5 Billion USD)[/b][/color][/size] 這再一次證明美國經濟是有彈性,  颶風 Katrina 對美國經濟的影響是少過 1% of GDP。 嘿嘿，  :em03: "經濟專家"  :em54: 必須撿起地板上的眼鏡.  新奧爾良不是經濟心臟中心,  there are alternatives to 運送中心.  </pre> American's survival is not based upon small citis such as New Orleans.  EXPERT ECONOMISTS  :em01: :em54:  should have taken a cue from President Bush.  President Bush simply did not care about the welfare and well-being of the Hurricane victims -- see how unimportant and insignificant they are in the big picture.   http://www.nytimes.com/2006/01/11/college/11cnd-bonus.html?hp&ex=1137042000&en=cfd6c5d7adc0dd3f&ei=5094&partner=homepage <pre>January 11, 2006 Wall Street Bonuses to Hit Record $21.5 Billion in 2005 By JENNY ANDERSON THE NEW YORK TIMES Ferrari dealers get ready: Wall Street bonuses are in and they are big. Alan G. Hevesi, the New York state comptroller, announced today that [b]Wall Street bonuses are estimated to hit a record $21.5 billion for 2005, surpassing the previous record of $19.5 billion of 2000. Those bonuses were driven by record profits at many of Wall Street's major banks, including Goldman Sachs, Bear Stearns and Lehman Brothers. [/b] The Street's munificence will be felt throughout New York: Mr. Hevesi estimated that [b]New York State will collect $1.5 billion in tax revenue and New York City will receive about $500 million from those bonuses.[/b] "Wall Street continues to be critically important to the economies of both the city and the state," he said. [b]The average bonus of $125,000 was also a record, surpassing the previous peak in 2004, of $114,270. Mr. Hevesi's figures represent bonuses awarded at 220 companies listed on the New York Stock Exchange. Adjusted for inflation, the 2000 record was $22.3 billion. [/b] The benefits, while widespread, will not be shared equally. "When the tides come in, all boats rise," said Alan Johnson, managing director of Johnson Associates, the compensation consulting firm. [b]"Thousands make $1 million or more, and then there are lots of people who get $10,000. Everyone gets something, but it is by no means equitable."[/b] Wall Street chief executives will be at the top of the heap, reaping the benefits of their banks profits. Henry Paulson, chief executive of Goldman Sachs, earned a compensation package of $38 million for 2005. Richard Fuld, the chief executive of Lehman Brothers was awarded $14.9 million in restricted stock. John Mack, who took over the reins of Morgan Stanley last summer, earned $11.5 million for five months' worth of work. While most Wall Street executives, bankers and traders have now been told what bonuses they are getting, they will not be receiving the cash or stock until the end of this month or next month. Nonetheless, some will have already budgeted or spent their bonuses. Real estate and luxury cars are typically high on Wall Street spending lists. Performance on the Street varied among the firms last year, but the underlying business of trading, lending, advising and raising money for companies was robust over all. About $1.8 trillion in mergers and acquisitions were completed in the fiscal year ended in November, according to estimates by Merrill Lynch. That compares with $1.3 trillion in 2004. American companies coming to market raised $48 billion in 2005, compared with $62 billion in 2004. But companies outside the United States raised $379 billion last year, compared with only $282 billion the previous year. Indeed, those investment firms with global reach benefited from it. According to Thomson Financial, European issuance in 2005 climbed 13 percent, to $2.46 trillion, while Japanese underwriting rose more than 10 percent, to $276 billion. United States issuers raised $3.02 trillion, a bigger total, but up only 4 percent from last year's level. No American company was in the top 10 global initial public offerings. [b]The bulk of Wall Street's profits continue to come from trading, with an increasing amount coming from firms' using their own money to make bets, rather than simply acting as agents between parties trading. [/b] [b]"The trading business, which drives Wall Street - it's not investment banking - continued to be extremely strong, even though interest rates went the wrong way,"[/b] Mr. Johnson said, referring to the fact that interest rates have been rising, a development that can hurt Wall Street profits. Revenues at Wall Street firms grew by 44.5 percent through the first three quarters of 2005, reaching the highest levels since the stock market peaked in 2000. The year "2000 was the peak of the greatest boom in our modern history," Mr. Hevesi noted. "It was a remarkable time, so this is very good news." [b]Already this year, the stock market has had a modest rally, a positive indicator for profits on the Street. In addition, many of the investment firms are planning to increase their work forces by as much as 10 percent, adding more high-priced mouths to feed in 2006. [/b]</pre> -- 作者： unclesam -- 發表時間： 2006/01/12 01:48pm [quote][b]下面引用由[u]rainbow[/u]在 [i]2005/11/09 10:29am[/i] 發表的內容：[/b] 華爾街券商今年慶豐收 業績躍升獎金水漲船高 紅利增幅約5%至10%間 薪酬總計將達320億 2005-11-09 世界新聞網 ... [/quote] hard earn money... they pay you the money but they buy your personal time. Even your wife is giving birth to a baby, you can't go simply becoz you are talking to a client to close a deal. even your love one calls, you can't answer coz you are having a meeting. and every year, the bottom 20% will be fire... it is all about business, nothing personal... -- 作者： rainbow -- 發表時間： 2006/01/12 01:55pm [quote][b]下面引用由[u]unclesam[/u]在 [i]2006/01/13 01:48am[/i] 發表的內容：[/b] hard earn money... they pay you the money but they buy your personal time. Even your wife is giving birth to a baby, you can't go simply becoz you are talking to a client to close a deal. eve ... [/quote] No pain, no gain. It's one of the fastest way to make a lot of money.  It's true, the attrition rate is very high.  But a lot of people grab the money and run, they use the money to pursue other businesses. Not too many people expect themselves to be there for a long time. -- 作者： az259 -- 發表時間： 2006/01/12 05:38pm 今年情形很復雜.  原來日本於第一季度收緊銀根.  不料中國改變政策, 竟向已是 500+ 的黃金入手.  結果還是動向未明.  慎之慎之!  還是打打游擊, 多餘錢就抓些比較穩妥的 UNIT TRUST 守著避風糖. 油價就 day trade 好了.  選幾個沒有做對衝的, 差不多 65 / bl 就狂 short 好了.  即日走人.  現在基本上是看消息去 short 偶然開發一兩隻加西的小型礦務股, 拿小小玩玩.     -- 作者： rainbow -- 發表時間： 2006/01/12 07:01pm [quote][b]下面引用由[u]az259[/u]在 [i]2006/01/13 05:38pm[/i] 發表的內容：[/b] 今年情形很復雜.  原來日本於第一季度收緊銀根.  不料中國改變政策, 竟向已是 500+ 的黃金入手.  結果還是動向未明.  慎之慎之!  還是打打游擊, 多餘錢就抓些比較穩妥的 UNIT TRUST 守著避風糖. 油價就 day t ... [/quote] It's tough to keep up with the latest investment strategies.  I only buy big company Blue Chip stocks for long-term investment (including ExxonMobil which I've held for the past 10 years, never day-trade, also holding "Dogs" Merck and Pfizer). Because I don't want to complicate my life. az259, Are you a Canadian citizen or legal resident of Canada?  A few months ago, I was really interested in buying some stocks in Canada.  But I did the legwork, they only allow Canadian to buy these types of stock (I guess this is a Protectionist policy). -- 作者： rainbow -- 發表時間： 2006/01/12 07:02pm http://hk.news.yahoo.com/060112/12/1kcvi.html <pre>華爾街去年花紅逾1600億 金融市道暢旺 投資銀行豬籠入水 1月 13日 星期五 05:05 更新 【明報專訊】去年金融市道暢旺，美國及英國投資機構將發放破紀錄巨額花紅。據紐約州審計官員估計，華爾街今年派發的05年度花紅將高達215億美元（1666.4億港元），超越2000年股市高峰期創下的195億美元（約1511.3億港元）紀錄。 華爾街是紐約經濟的火車頭，金融市場復甦對刺激經濟尤為重要。標準普爾500指數在2000至02年下跌40%，令全球10萬名證券從業員被裁員。但股市去年持續向好，華爾街新增8700個職位，較04年增加5.3%。 加息無影響龐大利潤 審計官員海弗希估計，華爾街約17.4萬名投資銀行顧問及證券分析員的花紅，05年增長一成，每人平均達12.5萬美元，較2000年多2.5萬美元。 海弗希解釋花紅增加，「因金融界總收入在05年首3季激增44.5%」，雖受加息影響，但利潤龐大。他指，來自金融界的稅收將高達15億美元，較04年增加2億美元。 大型投資銀行如高盛、摩根士丹利、雷曼兄弟及貝爾斯登（Bear Stearns & Co）4間市值居首5位的美資公司，盈利增長兩成。業內人士指，大行高層要員的分紅可高達1500萬美元。 高層分紅逾千萬美元 高盛總裁保爾森05年的總酬金高達3800萬美元﹔雷曼兄弟總裁富爾德獲贈價值1490萬美元的配股﹔去夏才接任摩根士丹利總裁的麥克，在5個月內亦賺取1150萬美元。 但並非所有股市從業員也豬籠入水。Johnson Associates指出，業內不少人只有1萬美元花紅，賺取百萬美元以上的只有數千人。 華爾街資深財務顧問的年薪平均約17.5萬至25萬美元，另加分紅。業界一般於12月至1月宣布分紅，並於下月發放。 路透社/彭博/紐約時報</pre> -- 作者： az259 -- 發表時間： 2006/01/12 08:59pm 小僧是加國公民.  看你拿這麼多大價股, 拿了十年.  現該是富婆了.  我是小本經營, 只有贏了放回去, 全押上才有機賺大錢.   就算加國也有很多不明朗因素.  下星期南下, 所以要預先投票了.  基本上不同人當家就有不同的 unit trust 政策.  這問題已拖了兩年.  現政府是對中產放錢, give us tax break on unit trust.  不過很多 unit trust 就不准外人插足, 稅亦不同.  所以美國人投資加國 unit trust 是此路不通了.  當然也要看大選結果.   -- 作者： rainbow -- 發表時間： 2006/01/13 01:32am [quote][b]下面引用由[u]az259[/u]在 [i]2006/01/13 08:59pm[/i] 發表的內容：[/b] 小僧是它釩雃h不明朗因素.  下星期南下, 所以要預先投票了.  基本上不同人當家就有不同的 unit trust 政策.  這問題已拖了兩年.  現政府是對中產放錢, give us tax break on unit trust.  不過很多 unit trust 　... [/quote] Ha Ha, "小僧"  :em01:   I thought Buddhism teaching is to convince people not to be concerned with worldly things, such as making money, gambling, or looking at beautiful women. No, I am not rich.  I used money from part-time jobs to buy ExxonMobil back then.  I only own small number of shares through DRIP (Dividend Re-Investment Program), so the # of shares accumulate over the years.  I am by no means rich, otherwise, I would stop working.   Yes, it's some sort of trust in Canada traded in stock exchanges in Canada only (they don't trade as ADRs here, it's difficult for foreigners to buy them).  The dividends are really juicy (plus dividends are taxed at lower tax rates in US).  These trusts are in cyclical industry though, they are on the uptrend for the past few years.  The potential appreciation and big dividend are very appealing.   As a consolation, one of the trust sent me a nice pen and brochures on things I cannot buy.   -- 作者： unclesam -- 發表時間： 2006/01/13 02:08am [quote][b]下面引用由[u]az259[/u]在 [i]2006/01/13 05:38pm[/i] 發表的內容：[/b] 今年情形很復雜.  原來日本於第一季度收緊銀根.  不料中國改變政策, 竟向已是 500+ 的黃金入手.  結果還是動向未明.  慎之慎之!  還是打打游擊, 多餘錢就抓些比較穩妥的 UNIT TRUST 守著避風糖. 油價就 day t ... [/quote] Gold and Energy, yes. In the meantime, for the China and HK market, i will look into properties (china, south side) and Auto parts. Not sure if i can put down some numbers here...but I think they will be major winners this year. -- 作者： az259 -- 發表時間： 2006/01/13 11:20am 其實很多 unit trust 很多問題, 月月派錢, 財政又不太公開.  所以在選時要很小心.