J.P. Morgan to Keep Highbridge, Dimon Says(MarketWatch). Dimon departs from Goldman and Morgan Stanley by keeping his traders. They're going to move in to asset management arm.
Wall Street Trader Takes Quant Strategy to N.B.A. (DealJournal) Former S.A.C. Capital Trader reveals Steve Cohen's two mantras: "keep on moving, don’t be idle and don’t sit on positions. The other unspoken mantra was you are not going to be right all the time."
Gold Bugs, Not Bed Bugs, Found in East Village Bar (WNYC) Hipster buying physical gold. A clear sell-signal.
Risk and Regulation (The American Scene) Noah Milman argues that we should end the risk weighting arbitrage in the Basel capital standards. And he understands why regulators don't want to do that: it would end the privileged status of government debt and GSE bonds.
Brian Moynihan's Big Speech (DealJournal) Among other things: "We have what we believe is the right amount of capital. "
10 Reaons The Death Of Equities Is Real This Time (Money Game) "Equities are boring and dead," writes Joe Weisenthal.