Doomsday Scenario: Hedge fund jobs evaporate, but are big banks really back?


Sorry, hedgies. Headhunters think you have another 20,000 job losses ahead in 2009, representing a 10% industry contraction. As if it wasn't bad enough that your base salaries were getting hammered.

Yet Vikram Pandit shocked with news that Citigroup, Inc. (NYS: C) may run a profit. The question -- for how long? Credit cards, commercial real estate, and many other shoes still dropping. Our Piqqem Sentiment on TARP recipients shows neutral across the board, so could Vik be right, and could it be that the gloom is lifting? Has TARP really been great coverage?

Over in Asia, the markets seem not to have gotten the memo about bank stocks as HSBC Holdings plc (NYS: HBC) continued to plunge due to massive shortselling. The markets loved the Palm, Inc. (NAS: PALM) announcement of a new capital infusion via stock. But some tech watchers were worried that if Palm needed the recap to fund the new Pre smartphone, what would happen if the Pre did not live up to billing? How many bullets does Palm have left? And will it *really* kill the iPhone, as Roger McNamee, head honcho at Elevation Partners, has claimed?

Alex Salkever is Director of Research at Piqqem.com, a stock research and prediction tool powered by Wisdom of Crowds.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 13, 2012: 03:36 AM

Hot Stocks

General Electric

18.875-0.255(-1.33)

Alcoa

10.29-0.35(-3.29)

Apple Inc

493.42+0.25(+0.05)

Google Inc 'A'

605.91-5.55(-0.91)

Bank of America

8.07-0.11(-1.34)

Wal-Mart Stores

61.90-0.06(-0.10)

Exxon Mobil Corp

83.80-1.08(-1.27)

Ford

12.44-0.25(-1.97)

Citigroup

32.925-0.735(-2.18)

IBM

192.42-0.71(-0.37)

Yahoo

16.14+0.14(+0.88)

Starbucks

48.82-0.38(-0.77)

Microsoft

30.495-0.275(-0.89)

Home Depot

45.33+0.06(+0.13)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

    BioHealth Investor Headlines

    WalletPop Headlines

    DailyFinance BlackBerry App

    My Portfolios

    Track your stocks here!

    Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

    BloggingStocks Partners

    More from AOL Money & Finance

    BioHealth Investor Headlines

    Page Loaded in 1329122165137 ms.