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SAXO Bank 2009 Predictions
- Thread starter PAPA ROACH
- Start date
They're a private company so it's very hard to scrutinize their numbers, and they're known for propagandizing and manipulating what's said about them in the public domain.
I wondered if they might have some exposure to Madoff, via their fairly dubious "private wealth management" segment. They suspended their global head of trading pending a large-scale insider trading scandal.
Plenty of red flags there. I just wondered if there was some substantial rumor out there.
I wondered if they might have some exposure to Madoff, via their fairly dubious "private wealth management" segment. They suspended their global head of trading pending a large-scale insider trading scandal.
Plenty of red flags there. I just wondered if there was some substantial rumor out there.
Quote from daxscalper:
Sorry , I didnt mean to startle you. There was a rumour a few weeks ago when they laid off half their work force but as far as I know they are fine.
Somewhere in European; maybe a French bank, this is a rumor.
Plenty banks went bust in East European block. Just look at their currencies.
Currency volatility is usually a positive for Saxo Bank, because they rack up the commissions that way. They have diversified away from that trading model in recent years (into PWM, which led me to question possible Madoff exposure), and there is no shortage of shady characters under their awning.