When John Bichelmeyer’s mutual fund fell 48 percent in 2008, he decided his portfolio needed an upgrade. The Buffalo Emerging Opportunities Fund would still invest in small companies with the potential to become big ones. What it wouldn’t do is invest in businesses that were burning cash, or in biotechnology firms whose prospects were difficult to gauge, Bloomberg Markets magazine will report in its April issue.
William Dudley, president of the Federal Reserve Bank of New York, said that while harsh weather will slow growth during the first quarter, it won’t harm the economy enough to merit slowing the tapering of bond purchases.
Bill Gross overhauled the Pimco Unconstrained Bond Fund after replacing Chris Dialynas as manager, taking control of Pacific Investment Management Co.’s best-selling alternative to traditional fixed income.
Bruce Berkowitz, the money manager battling the U.S. government over the future of Fannie Mae and Freddie Mac, is calling on the boards of the mortgage-finance giants to build capital instead of turning over their profits to the Treasury now that they’ve returned to profitability.
Freddie Mac, the U.S.-owned mortgage financier, will return $10.4 billion to the Treasury Department next month, bringing total payments to about $10 billion above what it got in aid after the 2008 credit crisis.