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Whose buying some $LULU today?!?!
New to Fishbowl?
unlock all discussions on Fishbowl.
They're very legit.
Agree with GS1. You don't have to be a behemoth to be elite.
They are very good
Think this is the first consensus I've seen on fishbowl. Thanks all
Depends from which perspective. Some investors don't love the inherent conflicts of interest at firms like NB
Huh? The conflicts generally cited are at diversified financial services firms that have 2 elements: both buy side and sell side; both client capital and prop capital. NB is just buy side and all prop capital is aligned with client capital. A third - less discussed - is balancing shareholder, client and eSo, versus most competitors, NB has employee interests. NB has no external shareholders. So which conflict are you referring to?
It varies across firms, but a big pitch of certain asset managers is interaction and knowledge sharing among various businesses
^^^Like?
Like when you're an asset manager but also an investment banking and a direct investor, and your other strategies include buying interest in external fund managers. A rule of thumb is
=(IF(Asset Manager = BlackRock,"Scale and breadth of organization provides significant resources which benefit the asset management business in effectively sourcing, evaluating, and executing investment opportunities","The varying lines of business including investment banking, sales and trading, and other services pose significant conflicts of interests for the asset management business and creates perverse incentives to violate duty of care by channeling business activities in ways that best benefit the parent organization")
^ those LOBs should be walled off. The law requires it. Megabanks all have IB, AM, S&T, etc. It was the preferred business model in the 90s/2000s
Thank you JPM1. I work on the buy side at JPM and we have zero interaction with the conflicting departments.