Author: John Carney

National Bank of Greece, the oldest Greek commercial bank, saw its financial condition so damaged by the crisis that it was operating with negative shareholder equity at the end of 2011.   Read More

You've got to hand it to the guys at Morgan Stanley, Goldman Sachs and JPMorgan who have been running the Facebook initial public offering. They've orchestrated a nearly perfect IPO performance.    Read More

Perhaps the biggest story to come out of the Robin Hood Foundation charity gala in New York Monday night concerns what everyone wasn’t buzzing about.    Read More

Hedge fund managers on the other side of the trades that resulted in over $2 billion in losses at JPMorgan Chase are worried about reports that the Justice Department is investigating the matter, according to a person familiar with the matter.    Read More

Facebook’s payment network is its largest source of revenue after advertising. What’s most surprising to a cynic like me is how honestly Facebook accounts for revenues from the payment network. There’s no accounting trickery going on.   Read More

It looks increasingly likely that Greece will have to implement controls to prevent capital flight and a banking collapse. To my mind, the only real question is when this will occur.   Read More

Even Kyle Bass, the Texan hedge fund manager who made billions shorting mortgage bonds in the years before the financial crisis, is bullish on mortgage credit.   Read More

The Volcker Rule is driving talented traders to leave large, well-known Wall Street investment banks for hedge funds, Reservoir Capital founder Daniel Stern said at the Skybridge Alternatives (a.k.a., SALT) investor summit.   Read More

One of the more unexpected ideas to emerge from the Skybridge Alternatives investor summit has been investing in bonds issued by the government of Portugal.    Read More

The largest institutional investors in the world are increasingly looking for investments that generate positive "contractual" cash flows, as opposed to mark-to-market paper gains, according to both panelists and attendees at the Skybridge Alternatives Investor Summit.    Read More