An Odd Day - Corrected Version!

Apologies to readers who couldn't get the video link to work.  Fixed now - Thanks for pointing it out CCD!

Where to turn next?

Unemployed and not certain where to turn?  Check out the video below from Wallstrip.com and maybe it will give you some ideas.  I have launched Zimmerhansl Consulting Services, but how about Zimmerhansl Consulting Services Bank ZCSB - I'm sure I could market this as a Swiss bank - don't you think?

WallStrip.com

Tax Relief on Stamp Duty in UK

I wasn't aware of this, but in the pre-budget report in the UK last week there was a provision stuck in there for relief from stamp duty on transactions whereby a stock lender is disposing of collateral to acquire replacement shares as a result of a borrower default.  It pains me to say so, but this is a helpful and sensible provision from the government.  What an odd day - I'm saying something nice about Darling Darling.

Analysts cut Earnings Expectations

Brokerage analysts have been cutting earnings expectations on US investment banks (is there such a thing any more?).  Bloomberg, amongst others have picked up the story about reduced numbers for the fourth quarter which ended at the weekend.  Dramatically slashed expectations for Prime Brokerage numbers are a key driver for this reduced income, highlighted recently by Morgan Stanley itself which flagged a potential 45-55% reduction in anticipated PB revenues for next year. 

P.S.  Following on from the video above, maybe the brokers should become bank holding companies.  Wait, they've already done that?