jerryking + market_intelligence   20

At BlackRock, a Wall Street Rock Star’s $5 Trillion Comeback - The New York Times
SEPT. 15, 2016 | NYT | By LANDON THOMAS Jr.

(1) Laurence Fink: “If you think you know everything about our business, you are kidding yourself,” he said. “The biggest question we have to answer is: ‘Are we developing the right leaders?’” “Are you,” he asked, “prepared to be one of those leaders?”

(2) BlackRock was thriving because of its focus on low-risk, low-cost funds and the all-seeing wonders of Aladdin. BlackRock sees the future of finance as being rules-based, data-driven, systematic investment styles such as exchange-traded funds, which track a variety of stock and bond indexes or adhere to a set of financial rules. Fink believes that his algorithmic driven style will, over time, grow faster than the costlier “active investing” model in which individuals, not algorithms, make stock, bond and asset allocation decisions.

Most money management firms highlight their investment returns first, and risk controls second. BlackRock has taken a reverse approach: It believes that risk analysis, such as gauging how a security will trade if interest rates go up or down, improves investment results.

(3) BlackRock, along with central banks, sovereign wealth funds — have become the new arbiters of "flow.“ It is not about the flow of securities anymore, it is about the flow of information and indications of interest.”

(4) Asset Liability and Debt and Derivatives Investment Network (Aladdin), is BlackRock's big data-mining, risk-mitigation platform/framework. Aladdin is a network of code, trades, chat, algorithms and predictive models that on any given day can highlight vulnerabilities and opportunities connected to the trillions that BlackRock firm tracks — including the portion which belongs to outside firms that pay BlackRock a fee to have access to the platform. Aladdin stress-tests how securities will respond to certain situations (e.g. a sudden rise in interest rates or what happens in the event of a political surprise, like Donald J. Trump being elected president.)

In San Francisco, a team of equity analysts deploys data analysis to study the language that CEOs use during an earnings call. Unusually bearish this quarter, compared with last? If so, maybe the stock is a sell. “We have more information than anyone,” Mr. Fink said.
systematic_approaches  ETFs  Wall_Street  BlackRock  Laurence_Fink  asset_management  traders  complacency  future  finance  Aladdin  risk-management  financiers  financial_services  central_banks  money_management  information_flows  volatility  economic_downturn  liquidity  bonds  platforms  frameworks  stress-tests  monitoring  CEOs  succession  risk-analysis  leadership  order_management_system  sovereign_wealth_funds  market_intelligence  intentionality  data_mining  collective_intelligence  risk-mitigation  rules-based  risks  asset_values  scaling  scenario-planning  databases 
september 2016 by jerryking
What Hollywood Can Teach Us About the Future of Work - NYTimes.com
MAY 5, 2015 | NYT |By ADAM DAVIDSON.

the “Hollywood model.” A project is identified; a team is assembled; it works together for precisely as long as is needed to complete the task; then the team disbands. This short-­term, project-­based business structure is an alternative to the corporate model, in which capital is spent up front to build a business, which then hires workers for long-­term, open-­ended jobs that can last for years, even a lifetime. It’s also distinct from the Uber-­style “gig economy,” which is designed to take care of extremely short-­term tasks, manageable by one person, typically in less than a day....With the Hollywood model, ad hoc teams carry out projects that are large and complex, requiring many different people with complementary skills. The Hollywood model is now used to build bridges, design apps or start restaurants. Many cosmetics companies assemble a temporary team of aestheticians and technical experts to develop new products, then hand off the actual production to a factory, which does have long-­term employees...Our economy is in the midst of a grand shift toward the Hollywood model. More of us will see our working lives structured around short-­term, project-­based teams rather than long-­term, open­-ended jobs...the Hollywood model is a surprisingly good system for many workers too, in particular those with highly-sought-­after skills. Ask Hollywood producers, and they’ll confirm that there are only a limited number of proven, reliable craftspeople for any given task. Projects tend to come together quickly, with strict deadlines, so those important workers are in a relatively strong negotiating position. Wages among, say, makeup and hair professionals on shoots are much higher than among their counterparts at high-­end salons. Similarly, set builders make more than carpenters and electricians working on more traditional construction sites....It’s probably not coincidental that the Hollywood model is ascendant at a time when telling stories, broadly speaking, is at the heart of American business.The Hollywood system offers another advantage for workers: Every weekend’s box-­office results provide new information about which skills in their field are valuable. ....The Hollywood model isn’t good news for everybody. It clearly rewards education and cultural fluency, which are not distributed evenly throughout the population.
trends  Hollywood  storytelling  teams  project_management  market_intelligence  automation  Communicating_&_Connecting  Managing_Your_Career  gig_economy  ad_hoc  dissolutions  short-term  on-demand  short-lived 
may 2015 by jerryking
Cisco’s CEO on Staying Ahead of Technology Shifts - HBR
John Chambers
FROM THE MAY 2015 ISSUE

Mr. Chambers said that customers are the best indicators of when to make investments in new technology. “That’s one reason I spend so much time listening to CIOs, CTOs, and CEOs during sales calls,”
HBR  Cisco  anticipating  ksfs  transitions  indicators  market_intelligence  John_Chambers  IBM  layoffs  CEOs  market_windows  disruption  customer_relationships  sales_calls  CIOs  CTOs  listening 
may 2015 by jerryking
Hollywood Talent Agency’s New Division to Manage Visual Artists’ Careers - WSJ
By KELLY CROW
Feb. 10, 2015
Should painters and sculptors be treated like movie stars? United Talent Agency thinks so.

The Beverly Hills, Calif., agency known for representing actors like Johnny Depp and Angelina Jolie said Tuesday it has launched a division called UTA Fine Arts to manage the careers of contemporary visual artists.

The move marks the first time a Hollywood talent agency has stepped into a role traditionally played by art galleries, and it underscores the growing commercial appeal that top artists wield in the global, multibillion-dollar art market.

Jim Berkus, chairman, said the agency won’t broker art sales or show the art as galleries do, but he said the art division will help contemporary artists amass financing for their creative projects and sign potentially lucrative corporate sponsorships and merchandising deals. Mr. Berkus said the firm will also assist artists who want to get more involved in the moviemaking business....The agency’s arrival is likely to rattle the art establishment, particularly the growing list of mega-dealers who have opened gallery branches around the world and are known for transforming artists into museum-ready superstars.

Marc Glimcher, who oversees the New York powerhouse Pace Gallery, said he thinks talent agents could drive a divisive wedge between artists and their dealers, who have historically guided artists toward commissions or relationships that may secure them a lasting place in art history.

“It sounds like an interesting idea, but it’s going to be super hard to pull off,” Mr. Glimcher said. “If you’re going to be an artist’s agent, you need to know more about their work, their prices and their collectors than their own dealer does—and no dealer will be induced to share that kind of information.”

Beyond market intelligence, Mr. Glimcher said talent agents will need to discern how many commercial deals an artist can shoulder without looking like a sellout to art-world insiders: “Do too much, and you’re just not cool anymore,” he added.
Hollywood  talent_management  career  contemporary_art  artists  product_launches  galleries  lawyers  entertainment_industry  market_intelligence  talent_representation  superstars  art_market 
february 2015 by jerryking
The key to winning a dogfight? Focus - The Globe and Mail
HARVEY SCHACHTER
Special to The Globe and Mail
Published Sunday, Dec. 14 2014,

Keep your focus: Stay abreast of your field, reading widely and probing for information. His team’s knowledge of how to handle the dire situation they faced, from outwitting the enemy after being hit, to the latest survival training when plunged into the water, kept them alive. “The better informed you are, the better you will be,” he said....to get better you have to debrief after your skirmishes....Do you consistently get the most important things done at work? Your day is jammed with many activities, some important and some minutia. You need to know: If you could only accomplish only one thing, what that would be. Events will arise during the day that require your attention, and you must deal with them. But he notes that we often find ourselves in reactive mode, which can sometimes be misguided. This question addresses the active mode, setting out a plan of what to accomplish for the day...How do you and your teammates prepare for each day’s biggest challenges at work? Top guns have lots of computer displays surrounding them in the cockpit. Because of that complexity, they need a simple plan and to spend time discussing the “what ifs,” so when plans need to be altered, they can manoeuvre effectively. “It’s the same with business people. If you’re surprised, you will have trouble,” he warned.
Vietnam_War  veterans  focus  lessons_learned  U.S._Navy  Harvey_Schachter  feedback  scenario-planning  anticipating  preparation  contingency_planning  debriefs  post-mortems  simplicity  off-plan  priorities  surprises  market_intelligence  beforemath 
december 2014 by jerryking
Hedge-Fund Managers Playing Larger Role in Art Market - WSJ.com
By
Kelly Crow,
Sara Germano and
David Benoit
Jan. 23, 2014

Hedge-fund managers, who play a vital but disruptive role in the broader financial markets, are increasingly throwing their weight around the art market: They are paying record sums to drive up values for their favorite artists, dumping artists who don't pay off and offsetting their heavy wagers on untested contemporary art by buying the reliable antiquity or two. Aggressive, efficient and armed with up-to-the-minute market intelligence supplied by well-paid art advisers, these collectors are shaking up the way business gets done in the genteel art world.....Today, are applying their day-job tactics to their art shopping, dealers say.

Corporate raiders a generation ago typically held their art purchases for at least a decade. Today, the average holding period for contemporary art is two years, according to a former Sotheby's specialist. That is enough time to reap a tidy profit on a rising-star artist but hardly enough for art history to rule on the artist's lasting merits.
art  artists  collectors  Wall_Street  hedge_funds  contemporary_art  moguls  Sotheby's  investors  dealerships  Citadel  Ken_Griffin  volatility  Christie's  market_intelligence  herd_behaviour  aggressive  art_advisory  real-time  holding_periods  art_market 
january 2014 by jerryking
Inside the D.C. bubble – stupid, slimy, savvy
Aug. 10 2013 | The Globe and Mail | by Konrad Yakabuski.

Mark Leibovich’s This Town betrays just about everything despicable about Washington’s political culture.

Politico’s business model lies not in pursuing high-minded Watergate-style journalism or even beating the Post in circulation or unique Web visitors. Fewer than 40,000 copies of its free print edition are distributed on the streets of Washington. Its content is aimed squarely at “The Club.”

In a new insider account of Washington, Mark Leibovich explains how The Club consists of the “spinning cabal of people in politics and media and the supporting sectors that never get voted out or term-limited or, God forbid, decide on their own that it is time to return home to the farm.”

The journalists, lobbyists, political consultants, White House aides, Capitol Hill staffers, socialites and persons-of-no-fixed-profession Mr. Leibovich profiles in This Town embody just about everything despicable about the D.C. bubble.....Playbook is the daily D.C. cheat sheet. Compiled by Politico’s Mike Allen, it summarizes the top news stories, parties, lobbying and book deals, staff changes, birthdays and nuptials of interest to The Club. And no one solicits mentions in Playbook – whose main corporate sponsor of late has been Keystone XL pipeline proponent TransCanada – as covetously as Robert Barnett.
Washington_D.C.  WaPo  Konrad_Yakabuski  sophisticated  start_ups  newspapers  business_models  politics  journalists  lobbyists  political_consultants  political_culture  books  Inside_the_Beltway  White_House  market_intelligence  newsstand_circulation  playbooks 
august 2013 by jerryking
Larry Fink: “We need confidence back”
Jan. 24 2013 | The Globe and Mail |

BlackRock is huge. Are you getting opportunities that individual investors are not?

That's such an open-ended question that it's kind of meaningless. Is the sky blue? I have offices worldwide. I talk to clients worldwide. That's information, but it's not inside information. It's knowledge from being an active participant. We are serving our clients better by doing that. Do I have a better understanding of what's going on in the markets than an individual? I would hope so.

What were the biggest lessons investors should have learned from the financial crisis?

There were many of them. There was way too much leverage in the system, and this is one reason that economies still are not fully out of their doldrums. Institutions really didn't have a good handle on their risk in 2008, either. You could argue that, rather than too big to fail, some of them were too big to understand, too big to manage. Also, when all that leverage was sucked out at once, the whole world became correlated. That aggravated things. Hedges that people thought would minimize their exposures did not. It took a lot of liquidity and capital supplied by central banks to steady things.

Look, from an equity investor's perspective, the beauty of the world right now, and the negative, is that there's so much uncertainty, such a lack of confidence.

How would you invest $100,000 right now?

It depends on your age. If you're 22 years old, I'd put all of that into stocks. But that's me. Before I'd even answer that question, I'd ask: Tell me, how neurotic are you? Can you live with short-term losses? Can you accept the need to hold? Is your holding period 10 years, 20 years? Are you frightened of volatility? It's a cardinal sin if we think that one size fits all. And if you're looking at your mobile device every day to see what the markets are doing, to see if your $100,000 is up or down, that's not good.
Laurence_Fink  BlackRock  investing  investment_advice  liquidity  market_intelligence  questions  cash_reserves  lessons_learned  mistakes  idle_funds  confidence  problem_definition  unfair_advantages 
january 2013 by jerryking
U.S. Crop Tour Draws Global Crowd - WSJ.com
August 26, 2012| | By IAN BERRY and OWEN FLETCHER
U.S. Crop Tour Draws Global Crowd
Increased Foreign Participation Reflects Price Volatility, International Demand.... the four-day Pro Farmer Midwest Crop Tour, which took place last week, and similar excursions by the increasingly high stakes of agricultural commodities and the chance to gain intelligence that could give them an edge on competitors.

The increased foreign participation in the crop tours comes amid higher volatility in corn, wheat and soybean futures markets in recent years and the heightened globalization of agriculture. The U.S. farm boom stems in part from the expansion of the middle class in China, which has led to increased meat consumption, fueling more demand for grains and soybeans to feed livestock.
commodities  food_crops  pricing  volatility  slight_edge  agriculture  futures_markets  high-stakes  market_intelligence 
january 2013 by jerryking
What makes Mick Davis stand out -- strong nerves
27 Mar 2007 | The Globe and Mail pg.B.2. | Eric Reguly.

Canadian mining bosses should get out of the office more often...For Canadian (mining CEOs) when the price rises sharply, visions of price collapse immediately fill their heads, and for good reason. The last downward cycle was so brutal that the mining companies were lucky to come out of it alive. They totally misjudged the current cycle, though. The Canadian CEOs should have spent less time on the golf course and more time watching stockpiles of nickel (and copper, zinc and lead) in Shanghai, Mumbai, Taipei and Seoul disappear like beer at Oktoberfest....Xstrata CEO Mick Davis and the intelligence gatherers at Glencore International, the commodities trader that controls 35 per cent of Xstrata, endlessly traipse around the planet to pick up information on reserves and supply and demand. They feed the data into a black box, which rattles and shakes and spits out a range of eye-popping numbers. Then Xstrata runs out and buys nickel companies when nickel prices are outrageously, unsustainably, stupidly high, or so everyone else thinks. Then the company and its shareholders make obscene amounts of money....CVRD and Inco have been spectacularly right, the Canadians spectacularly wrong. The result is a Canadian nickel mining industry with no nickel miners left of any size. Falconbridge, Inco and LionOre have been eradicated as independent, home-grown names. Investors who sold Inco and Falconbridge left fortunes on the table...The Xstrata lads didn't just get smart on price forecasts. They also figured out how to treat the hedge funds: Respect but don't fret about them. The hedgies pump volatility into the system. When commodity prices fall, say, 10 per cent, share prices might fall by double that amount as the hedgies head for the tall grass. As a CEO, you need strong nerves to endure such violent up and down movements. Mr. Davis has strong nerves and it has paid off. Many other mining bosses look at the hedge funds with fear.
CEOs  commodities  commodities_supercycle  Eric_Reguly  Glencore  inventories  lessons_learned  market_intelligence  Mick_Davis  mining  price_forecasts  scuttlebutt  sellout_culture  stockpiles  volatility  Xstrata 
june 2012 by jerryking
The Start-Up of You - NYTimes.com
July 12, 2011 | NYT | Tom Friedman. Reid Hoffman, has a book
coming out in 2012 called “The Start-Up of You,” co-authored with Ben
Casnocha. Its subtitle could easily be: “Hey, recent graduates! Hey,
35-year-old midcareer professional! Here’s how you build your career
today.” ....Hoffman argues that professionals need an entirely new
mind-set & skill set to compete. “The old paradigm of climb up a
stable career ladder is dead & gone,” “No career is a sure thing
anymore. The uncertain, rapidly changing conditions in which
entrepreneurs start companies is what it’s like for fashioning a career.
Therefore, approach career strategy the same way an entrepreneur
approaches starting a business.” Ditch the grand life plan.
Entrepreneurs don’t write a 100-pg. biz plan and execute it one time; be
emergent....use your netwk. to pull in info. & intelligence about
where the growth opportunities are [this would be knowledge or market intelligence] — & invest in yourself to build [transferrable] skills that will allow you to profit from those opportunities.
books  career  career_paths  careers  Managing_Your_Career  start_ups  market_intelligence  transferable_skills  entrepreneurship  pattern_recognition  opportunistic  Tom_Friedman  LinkedIn  Reid_Hoffman  new_graduates  individual_initiative  rapid_change  emergent 
july 2011 by jerryking
Nasmyth Started Daily Market Report - WSJ.com
SEPTEMBER 27, 2008 | Wall Street Journal |By GUY CHAZAN.
Obit for Jan Nasmyth (1918 - 2008), who created Argus Media, (the
world's first daily oil market report) which began as a newsletter
published in the dining room of his Hampstead home and grew into one of
the world's most trusted business intelligence services.
obituaries  tributes  oil_industry  newsletters  niches  information_sources  market_intelligence 
december 2010 by jerryking
The man who must keep Goldman growing
March 5 2008 | Fortune Magazine | By Bethany McLean, editor at
large. Lloyd Blankfein has a lot on his mind. The chief of Wall
Street's most successful investment bank has to outsmart treacherous
markets while balancing the firm's interests with those of its clients.
"Its range of operations gives Goldman unparalleled access to
information and ideas from around the world. "Goldman has more touch
points to more clients around the globe," says Jeff Harte, an analyst at
Sandler O'Neill. "It gives them more opportunities and better
collective intelligence.""
Goldman_Sachs  Lloyd_Blankfein  collective_intelligence  market_intelligence  informational_advantages  CEOs  unfair_advantages 
february 2010 by jerryking
Too many pots
Sept. 2003 | Profit. | by Rick Spence. Abel and Cain fell
into a common trap: targeting the broadest market possible. By trying to
please too many people at once, they were unable to make deep
connections with customers and event sponsors. Sure, their potential
market was huge, but as Abel admits, "We weren't providing enough
value." Niche markets pay better than mass markets; it's a classic
entrepreneurial lesson, but one that many people learn the hard way. If
one were starting a beverage company today, find the niches Pepsi and
Coke don't own - as Cott Corp. did with bargain-priced house brands.
Unlike the markets Cain and Abel had previously wooed, the people who
attended these events had pressing information and self-development
needs, and were willing to pay for events that fulfilled those needs.
"Specializing opened up markets that we could never reach before," says
Abel. "There turns out to be no shortage of niche markets. The closer
you look, the more you see."
ProQuest  Rick_Spence  entrepreneur  market_segmentation  specialization  targeting  lessons_learned  partnerships  value_propositions  niches  Pepsi  Cott  Coca-Cola  customer_segmentation  mass_markets  emotional_connections  market_intelligence  private_information 
february 2010 by jerryking
How does U.S. democracy survive without its newspapers?
Tuesday, Jun. 16, 2009 | The Globe & Mail | by John Ibbotson.

The Globe has also still been spared the savage budget cuts that eviscerated so many once-great American newspapers as the recession accelerated chronic declines in readership and advertising revenue.

But in the U.S., it's time to ask: How will the seemingly inevitable extinction of many metropolitan daily newspapers influence politics and political culture there?

The answer isn't entirely grim. Some newspapers are bound to survive in print form, at least for a few more years, as competition thins and enlightened corporate owners recognize that laying off half their reporters is the surest way to destroy the only thing of value a newspaper has: the reputation behind its name.....there is another, very disturbing, trend. A recent survey by The Pew Center for the People and the Press reported that "a new Washington media have evolved, but they are far from the more egalitarian or citizen-based media that advocates of the digital age might imagine. Instead, this new Washington media cohort is one substantially aimed at elites, often organized by industry, by corporate client, or by niche political interest."

These publications may have an audience of a few thousand, or even a few hundred, willing to pay thousands of dollars in subscription fees for specialized coverage. "These are publications with names like ClimateWire, Energy Trader, Traffic World, Government Executive and Food and Chemical News," the Pew study says. They are proliferating, and hoovering up reporters and editors who have lost their jobs in mainstream media. "Today, it is the niche, not the mainstream, media that [provide]blanket coverage of Congress and other important arms of the federal government," the Pew report concludes.

The collapse of print journalism - network newscasts are also in terrible shape - threatens to bifurcate the public square. Those who know the power of information will pay to obtain it, and use that knowledge to influence the agenda.

Those who lack the means or interest will depend on blogs, social networking and whatever information they choose to look for online. How does democracy survive on that?
brands  budget_cuts  commonwealth  decline  democracy  engaged_citizenry  influence  information_sources  Inside_the_Beltway  John_Ibbitson  local_journalism  magazines  mass_media  market_intelligence  newsletters  newspapers  niches  political_culture  politics  print_journalism  reputation  sophisticated  Washington_D.C. 
june 2009 by jerryking
Seeking an Edge, Big Investors Turn to Network of Informants - WSJ.com
NOVEMBER 27, 2006 WSJ article by LAURIE P. COHEN profiling Mark
Gerson and his research firm, Gerson Lehrman. The firm is an
information broker to hedge funds and private-equity firms. These
private investment firms, which are loosely regulated, have Gerson
Lehrman Group, for information they hope will provide them with an
investing edge
research  investing  information  Gerson_Lehrman  proprietary  inequality_of_information  scuttlebutt  due_diligence  expert_networks  market_intelligence  slight_edge  private_information 
march 2009 by jerryking
Cargill's Inside View Helps It Buck Downturn
Jan 14, 2009, WSJ article on Cargill.

"Cargill freely acknowledges it strives to profit from that information.
"When we do a good job of assimilating all those seemingly unrelated
facts," says Greg Page, Cargill's chief executive, in a rare interview,
"it provides us an opportunity to make money...without necessarily
having to make directional trades, i.e., outguess the weather, outguess
individual governments."
CEOs  Cargill  business_development  market_intelligence  scuttlebutt  insider_information  information  information_flows  commodities  grains  farming  agriculture 
january 2009 by jerryking
Information Haves and Have-Nots - WSJ.com
Sept. 22, 2008 | Wall Street Journal | by L. Gordon Crovitz.
Piece on the ramifications of not having access to good information has
had on pricing securities. No one asks the right questions as research
analysts desert Wall Street.
======================================
...The credit crunch can be reduced to a single word. Not "greed," which also exists in stable markets. The word is "information," the absence of which has put taxpayers on the hook for billions, ruined Bear Stearns and Lehman Brothers, and led to the fire sale of Merrill Lynch and AIG. The continuing absence of information about the true value of underlying securities means no one knows when the market has hit a new normal for the important purpose of rebuilding.

Why did so many smart people at so many top firms make dodgy investments? Why were there so many unknown unknowns, now at least becoming known unknowns? One explanation is the absence of warnings from research analysts. For decades, the large Wall Street brokerages had armies of analysts who, when they did their jobs right, asked the hard questions and issued tough reports that often alerted both company executives and public investors to market-moving issues.

There are now about half as many Wall Street analysts as in 2000......."Research analysts have gone the way of high-button shoes and buggy whips." Alas, unknown risks have not. The now-former senior executives at Bear Stearns, Lehman and Merrill must wish they had been able to retain all their star banking analysts. Those analysts just might have waved enough red flags -- in public or even in the hallways of the banks themselves -- to alert management to risks in their portfolios......a few of those analysts left these Wall Street firms for the "buy side," such as hedge funds, which keep their research proprietary, for their own trading. Predictably, it was well-informed short sellers at these firms who first alerted the market to the true value of credit derivatives and other mispriced instruments by driving down shares of firms such as Lehman.

At a time when real understanding is at a premium, we're increasingly in a world of information haves and have-nots......A corollary is that proprietary information will be more valuable than ever, giving well-informed traders an even bigger edge.

What's the solution? The temporary ban on short selling of financial firms will have the unintended effect of worsening the information gap. Professionals will perform the equivalent of short selling through nontransparent instruments and markets, leaving individual investors to be guided by public share prices that no longer reflect all known information......Part of the answer came in news earlier this month that Credit Suisse will make macroeconomic research from its analysts available to noninvestor clients of Gerson Lehrman Group, a powerful force in the world of independent research such as for hedge funds. Equity researchers from Credit Suisse joined the some 200,000 expert consultants that Gerson Lehrman has attracted to its network.......Clients of Gerson Lehrman pay hefty fees to tap this deep knowledge through one-on-one phone calls and meetings. Serving these clients will help Credit Suisse fund its 700-person research department.

When Gerson Lehrman launched a decade ago, it was to serve the deep information needs of investors in highly technical areas such as health and biotechnology. As Wall Street analysts began to leave the scene, it brought on experts in virtually every industry globally, with 150 research managers to help clients conduct more than 10,000 consultations monthly. These are often on arcane topics, such as the likely growth in salmon farming in Norway, or the odds of success for a particular drug trial. Perhaps some research was even done on, say, the proper pricing of derivatives.

Regulators can try to put genies back in bottles, but complex financial instruments that, when properly used, create value will only become more commonplace. Innovation will also be required for better-informed markets. By recruiting a huge number of experts and using online social-media tools to connect them to clients, firms like Gerson Lehrman can bring information, knowledge and insights to the people who most value and need it.
arcane  asking_the_right_questions  buy_side  equity_research  expert_networks  Gerson_Lehrman  hedge_funds  information  information_gaps  information-poor  information-rich  L._Gordon_Crovtiz  market_intelligence  proprietary  research_analysts  short_selling  uncertainty  unknowns  Wall_Street 
january 2009 by jerryking

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