Thursday, January 24, 2008

And the best Joke of the year is…

And the equity derivatives house of the year is…

Yes, you guessed it: Société Générale. Awarded just this month by Risk magazine, SocGen bagged the gong for equity derivatives house of the year. "We managed the existing book very well because we decided some time before the crisis to be long volatility and be less sensitive to correlation, so the losses were minimal. We suffered on our statistical arbitrage trading activity, but that was just for one month, and minimal compared to some hedge funds or other banks. Overall, our trading activities will be approximately flat compared to last year, which is a good performance," remarks Christophe Mianne.

Posted by robertpaulson @ 12:25 PM (553 views)
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