Fannie Mae and Freddie Mac shares surged to five-year highs last week, giving them a combined market value of $48 billion, about the same as BlackRock Inc., the world’s largest money manager, and Starbucks Corp., the biggest coffee-shop operator.
Bankers at Goldman Sachs Group Inc. had a tumultuous 2012. The firm cut 900 jobs, promoted the fewest executives to the exalted post of partner in more than a decade and slashed the portion of revenue set aside for compensation to 38 percent from 42 percent a year earlier.
On Jan. 2, Jim Clark , a founder of such technology icons as Netscape Communications Corp. and Silicon Graphics Inc. , was at home in Palm Beach, Florida, when he got an e-mail from an executive at Goldman Sachs Group Inc. ’s private wealth management division. Goldman was offering Clark a chance to invest in the closely held social-networking company Facebook Inc. The deal -- through a fund overseen by Goldman Sachs Asset Management -- was being offered to other Goldman investors at the same time, Bloomberg Markets magazine reports in its March issue.
It’s been a rough three years for banks, securities firms and insurers -- even rougher for the analysts whose job it is to predict how the stocks of these firms will perform, Bloomberg Markets reports in its November issue.