Not So "Crazy" Broker Alert: Bloomberg Reports Wall Street Bonus Will Be Up!
I've taken plenty of heat over the past number of months over my assertion that Wall Street Bonuses would be up this year. I had a bunch of haters on my own blog challenging me to outrageous bets (I'm not a gambling man), heaping insults, and even had Curbed term me playfully as a "crazy broker". I did not profess to be a genius, I was simply looking at bonuses on a company by company basis and doing the math. This is a good lesson on how the media, and sometimes the public harps on the negative and assumptions are made without thinking for oneself. Well, perhaps vindication is near, very near. This morning Bloomberg reports that Wall Street bonuses this year will be up by at least $2 Billion. Granted, Goldman Sachs employees will get the majority of the loot and this surge of cash is no panacea for concerns about our local real estate market. However, it will not hurt the real estate market as so many pundits have assumed without study. Porsche dealers, rejoice! Here is the article:
Here was my market update which noted higher Wall Street Bonuses on Oct 4th:
A Recipe For Higher Prices (A. Fine Blog/Oct. 4th)