Why is Morgan Stanley buying up hedge fund in the dozens recently, when Goldman Sachs has just created a hedge fund clone that will emulate hedge fund investments for only max. 1% of annual fees (versus 2%+20% performance in current hedge funds)? Hedge fund fees are bound to go DOWN.
In other interesting events of the finance world, I met with a managing director yesterday who heads some trading desks for a large investment bank in the City. I know him through a personal contact so he was very honest. He told me he would never go into investment banking if he was in my position, that it wasn't intellectually challenging and had no future. He said the future is in technology/automation and in Asia, in nothing else. If I can't stop it, he said trading is the way to go, all else would be useless, boring and terrible. Trading he said was still the least bad option, but a horrible environment for women. Very honest advice, but also a bit surprising to come out of someone who is in the job himself.
In any case, I'm continuing my exploration of finance jobs and am slowly but surely finding out what I would like or not. On Friday Goldman Sachs is hosting a full day event for female MBAs in their offices that I'm attending, even though we have the accounting exam in the afternoon. The good thing about the exam is, there is less and less to study the lower you set your aspirations :-).