We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
1300 City jobs go today, another 1000 tomorrow?
Comments
-
as i tried to explain previously when the London Financial Services Sector was mentioned it means the entire workforce that deals with London business.
IT DOESN@T JUST MEAN PEOPLE WORKING JUST IN THE CITY OF LONDON.
It means all of the departments linked to the london business piece!!!
Also, when looking AGAIN at the JP Morgan comments they do mention that this is worst case scenario!!! Not that this WILL happen but worst case!!!
Hopefully a blunt instrument like yourself will understand this and stop trolling and trying to get attention to yourself!!
Better call Reuters, the Mail, the Telegraph, the BBC, Banking Times and all the other organisations who quoted estimates of 40,000 job losses IN THE CITY OF LONDON and tell them that they are wrong then.
I'm done with arguing with you - I refuse to enter a battle of wits with an unarmed man,--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
Some traders have already gone. Also, it wasn't exactly a secret last year, that many in hedge funds were not happy as they wouldn't be getting bonuses.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
MissMoneypenny wrote: »Some traders have already gone. Also, it wasn't exactly a secret last year, that many in hedge funds were not happy as they wouldn't be getting bonuses.
I work for a hedge fund and everyone that enters the industry knows (or should know) that it's a risky environment. If it pays off the rewards can be absolutely spectacular, if it doesn't then you end up having earned a lot less than you would have otherwise.
My boss hasn't had a pay cheque or a dividend from the fund in 2.5 years. I've taken a 60% pay cut to join. If it paid off (I've had to leave as my wife is unwell and I can't do the hours required any more) then in 5 years time I'd have been independantly wealthy. Not bad for a back office bloke!0 -
Not bad for a back office bloke!
Very good for a back office bloke. Aren't most in hedge funds financed by (or started out by being financed by) wealthy parents?
I'm sorry to hear about your wife. I hope she gets better soon.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
MissMoneypenny wrote: »Very good for a back office bloke. Aren't most in hedge funds financed by (or started out by being financed by) wealthy parents?
I'm sorry to hear about your wife. I hope she gets better soon.
In my experience, hedge funds are started out by successful fund managers or proprietory traders (traders that buy and sell shares and/or other assets on a bank's behalf). These people are generally fantastically wealthy. For example, the hedge fund that blew up a few weeks back that was trading mortgage backed debt of various sorts cost the main owner $180,000,000 which was half his wealth IIRC!
In most cases (again IME) they were educated at the best schools and universities which doesn't come cheap! My boss did an MBA at Harvard which costs $77k alone!!!
I hope Mrs Generali gets better too, thanks.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards