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Bob Janjuah Leaves RBS
One of the world's last few remaining permaskeptics, Bob Janjuah, has severed ties with the UK's most bailed out and nationalized bank, RBS, reports Bloomberg. And just as the departure of David Rosenberg from Merrill in early 2009 marked the start of a period of complete market schizophrenia, we hope that the purging of negativists from the Royal Bank of Scotland is not indicative of just such another period, at least on the other side of the Atlantic. However, unlike last March when the several trillion in global stimulus funds was only just entering the economy, this time around not even the ritualistic sacrifice of bears will do much to stop the slide. And just to confirm that this is likely a localized issue to RBS, the Chief Markets Econoist Kevin Gaynor has also left the firm.
RBS will continue to provide research with its team of strategists based in London, the Asia Pacific region and the U.S., the Edinburgh-based bank said today in a statement. Global economic research will be led by Chief European Economist Jacques Cailloux.
“We have a strong research franchise that we will continue to grow,” said RBS in the statement.
We are confident that the RBS taxpayer-funded research franchise can easily hiure all the Moody's rejects. The question who, aside from one or two persistent publications, will care about what they have to say.
Best of luck Bob and keep in touch.
h/t John
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Good for Bob; he was too level-headed and rational for that POS bank. I dont know for the most of his calls, but his XO call is beginning to actualize as we speak. Well good luck to him in whatever it is he will be doing next.
what calls dont you like ?
What? Who said anything about me not liking "calls"; I only said his XO call is being actualized as we speak. I dont follow what people are saying about individual stocks or shit like that; I follow FI and derivatives; and Janjuah has been fairly a good prognosticator of the occurrences in those markets.
yeah fuck, I miss read your post. I thought you wrote you dont like his calls.
No sweat Spitz. You're still my favorite AG.
A clear example of "Shoot the Messenger."
I hope to hear of him, at the very least, on the blogs.
A very impressive thinker.
Ditto that, can the Zero Hedge team reach out to him, and try to get a story?
Adios and vaya con dios
OFFICIAL
Buenas tardes... Your destination.
SLIM
(speaking right up)
Chihuahua... gonna do some sightseeing
Why is this called a "purging?"
Do we know he was forced out (or perhaps the departure was his decision)?
http://ftalphaville.ft.com/blog/2010/07/05/278546/markets-live/
"We are confident that the RBS taxpayer-funded research franchise can easily higher all the Moody's rejects."
Higher? Really Tyler?
Tighten it up man.
Didn't you here that Steve Jobs has released a peeR that the autocorrect funxn on the iBlog is really much better than previously disclosed?
Dominating humanity starts with good spelling. Remember Bernanke won his spelling bee.
Luckily it's a holiday, else you would get junked 100+
sheeple,
I bet that shit disappears. Won't make 100+ because it will go poof at 20. I know I did my part. It would be one thing if Tyler always picked on us for errors. I ask Mr. or Ms. Tight to try doing what ZH does, with as little support and reward as they have.
Nah...I bet they are making a killing on those Eastern European dating site banners they had going.
≠
I wonder? Was his leaving RBS the result of some internal conflict? Or is there a book in Bob's future? Has some other entity 'head hunted' him? Maybe a private investment or consultation company under his ownership?
I hope we will hear more of Bob and his erudite economic opinions in the future. Good luck and happy landings!
This statement is precisely the wrong approach in today's reality and misses the point of why several have warned of further hardship, " the several trillion in global stimulus funds was only just entering the economy". Not one penny EVER entered any economy. Deflation is destroying credit much like a spreading AID of the early 1980s. We may survive bit NOT due to the stimulus as it is misleadingly termed. The fact is there is NO velocity in the UNPUBLISHED money supply and every retired unit of currency is used by lending institutions to buy THEIR GOVERNMENT BONDS ON MARGIN @ AUCTION creating 10x the cash needed to repay government debt and remain current on such obligations. In an environment where forced liquidation and no ability to reflate exists it is best for those unencumbered by debt to walkaway. Wall Street doesn't pay, or RBS to advise customers to hold cash.
wow spot on. The banking system is using it's unique ability to create cash/credit 9x and give it all to the government to fund "X"
10 bucks he's going to sprott
Be funny if he joined Hendry's hedge fund - I'd watch that double act on cnbc.
Doubt that Eclectica is big enough for the both of them. He's in a position now to set up his own shop.
Onwards and upwards…. at least it will be for Bob and his credibility. There IS still a market for rational thinking, even if not at insolvent banks such as RBS.
Let me know if he is headed for his bunker
Was missing you today Tyler..good to see you ....cant do without my daily ZH fix...
why dont you hire Bob?
Can't have skeptics eroding CONfidence in the flawed system of Ponzi-Debt-Fiat.
Only "Yes men" need apply to RBS, GS, JPM and all the other ponzi masters.
Good luck Bob and may you remember us at ZH with your insights.
thank you bob for all the hard work and time spent revealing more truth to us. good luck to you.
thanks bob.
Bob Janjuah video explaining his departure:
http://www.youtube.com/watch?v=z99iVXJ8OtA
There are other candidates for the catapults : Dylan Grice ( SocGen) and Chin Loo ( BNP Paribas ).
RBS employees just got paid the first 50% in cash of the bonus anounced at the begining of 2010 in June, this might explain the reason for leaving now, waiting till the cash comes in, before moving somewhere else?
Perhaps Bob just got tired of all the market manipulation?
http://market-ticker.denninger.net/archives/2474-Market-Manipulation-On-...
Dude!....that was some scarey shit! Should be a top banner item on ZH. I know it's already been covered...but damn that is obvious.
Its a desk flashing an order to try and sway the bid-side in its favor. Nothing new, done in most liquid equities as well.
The SEC barely regulates executed orders - you think theyre going to look into the daily volume of BILLIONS of flashed orders?
Non-issue. Its here to stay.
Bob,your a better man than my mom.Thanks for walking against the circle.Followed you for a while and looking forward more of great work...You Rock
Stories like this always remind me of some semi-famous quote from the curator of one of the better art museums of New York City. They had recruited and seen the effects of a huge boon in talent in a short period of years, and the "curator" or someone with a high position at the museum said "Yeah, Hitler keeps shaking the trees and we get all the good apples" Referring to the highly intelligent Jews of course.
Can't be talking that raw and still be happily employed at a major bank.
He will be replaced with a Bianco-Belski type bullshit artist.
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