Friday, April 23, 2010

From an investment bank insider

I have been in touch with a former insider of one of the embattled Wall Street firms and he/she really knows the score. Here is what he/she told me:

"I have not bought Goldman Sachs yet. But I think the case stinks to the high heavens. I can not figure out why Deutsche Bank is acting so badly. They have not been charged. I am wondering if Morgan Stanley is going to benefit. I have not bought because I am worried about financial reform."

How much this benefits you and your portfolio I cannot say. But the market's performance Friday was sure interesting. As the market rallied into the close, so did the VIX. Makes me think some smart people are selling into strength.

No comments: