Thursday, 24 Feb 2011 | 11:34 AM ET

25 Guys to Avoid on Wall Street

Posted By: Ash Bennington
Christian Lantry | Stone | Getty Images

There are lots of critical skills you need to succeed on Wall Street. It helps to understand market forces. A facility with numbers is useful. Having a feel for group dynamics is necessary to succeed on trading desks and deal teams. Superb time management, verbal acuity, and judgment are all important.

But, mostly, what you need to do is avoid the things that will destroy your career. And most of the things that will destroy your career go under the general heading of “people.”

I asked NetNet reporter Ash Bennington to look back on his years on Wall Street—where he was a vice-president at Credit Suisse and BB&T—and assemble a list of the people you need to avoid. I thought there might be three or four. I was way off. Ash returned with a list of 25 people to avoid.

You might want to print this out and carry it with you. When you meet someone new, scan the list. Decide if they are someone to avoid. Alternatively, you should take a look at the list and ask if you are on it. If you are, well, don’t be surprised when your colleagues start avoiding you. — John Carney

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  Thursday, 24 Feb 2011 | 10:37 AM ET

Inside Ex-Lehman CFO Erin Callan's Hamptons Hideaway

Posted By: John Carney
Anthony Montella
Source: Twitter
Anthony Montella

Take a look at what we found when we went looking for Erin Callan. »Read More

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  Thursday, 24 Feb 2011 | 9:54 AM ET

Will Gaddafi Survive?

Posted By: Ash Bennington
Demonstrators hold up a banner featuring Libyan leader Moamer Kadhafi reading 'Kadhafi is a murderer' as they stage a protest outside the Libyan embassy in Istanbul on February 21, 2011
Mustafa Ozer | AFP | Getty Images
Demonstrators hold up a banner featuring Libyan leader Moamer Kadhafi reading 'Kadhafi is a murderer' as they stage a protest outside the Libyan embassy in Istanbul on February 21, 2011

In light of all that has happened in Libya over the last week, it seems fair to wonder how Libyan president Muammar Gaddafi has thus far avoided suffering the same fate as Hosni Mubarak, who was forced from power in neighboring Egypt earlier this month.

In Egypt, the military's apparent lack of willingness to fire en masse upon protestors, in Tahrir Square and elsewhere, has often been cited in the media as one of the causes of the revolution's success.

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  Thursday, 24 Feb 2011 | 9:09 AM ET

Is a US Government Shutdown Looming?

Posted By: Julia La Roche
  Thursday, 24 Feb 2011 | 9:04 AM ET

Waking up With Nicole Lapin

Posted By: Nicole Lapin

It’s always harder to wake up on Friday eve, right? Stop your kvetching, though, I was up way earlier than you and because I’m so nice, I put together a list of what you missed:

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  Wednesday, 23 Feb 2011 | 4:48 PM ET


Posted By: Ash Bennington
  Wednesday, 23 Feb 2011 | 4:09 PM ET

Dick Armey: Collective Bargaining for Public Employee Unions Has Been Abused Severely

Posted By: Lori Ann LaRocco

From prank phone calls to protests, the state budget battles are getting uglier every minute. And this is just on the state level—what's going to happen on the national stage? I caught up with former House Majority Leader and Tea Party Leader Dick Armey on all the political jabs.

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  Wednesday, 23 Feb 2011 | 3:24 PM ET

The Biggest Risk for Muni Bonds: Contagion

Posted By: John Carney

While muni bond optimists come in a variety of flavors, they all miss one important factor: the risk of municipal debt contagion.

Reading through the various publications put out by banks and bond fund managers, you frequently come across two strategies.

Wells Fargo, for example, advises clients to have a diversified portfolio so that isolated defaults won’t have a large impact on the overall returns.

Pimco, on the other hand, tells clients that the key to success in muni investing is picking the highest quality muni credits.

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  Wednesday, 23 Feb 2011 | 2:33 PM ET

Stagflation Still Regarded as Economy's Dirty Little Secret

Posted By: Jeff Cox

Despite rising commodity prices and a bleak employment picture, “stagflation” remains a word not uttered in the polite company of the financial world.

But there remain only a few more tumblers to fall into place for a return to that awful word that conjures up images of the “malaise days” of the late 1970's and early ‘80s, where rising inflation and slumping employment tamped down economic growth.

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  Wednesday, 23 Feb 2011 | 1:32 PM ET

Madoff Lawsuit's Perverse Incentives & Implications

Posted By: Ash Bennington
Getty Images

A suit filed against Citigroup by the trustee representing Bernie Madoff's victims would seem to put banks in an impossible position.

According to a report in the Wall Street Journal, here are the generally agreed upon facts.

Sometime prior to November 2006, Citigroup lent $300 million to a Madoff feeder fund called Tremont Partners.

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About NetNet

  • NetNet is where you'll find the low-down and the high jinks of Wall Street. It's the place for insider stories, trader gossip, and tales of the foibles of the moneyed crowd and the culture of finance.Wall Street news and commentary served fresh all day long.


  • Jeff Cox is finance editor for CNBC.com.

  • Lawrence Develingne

    Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.

  • Stephanie Landsman is one of the producers of "Fast Money."

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