Somewhere in New Jersey near the now famous one-and-a-half-inch black plastic tube running in a stressfully straight line to a data center outside Chicago, a broke Sergey Aleynikov wonders if he’s going back to jail for supposedly stealing a bit of mysterious high-frequency-trading computer code from Goldman Sachs.
Vanguard Group Inc., the third- biggest provider of exchange-traded funds, gained ground on larger competitors this year after gathering more than seven times as much money into its ETFs than the rest of the U.S. industry combined.
Index funds became popular over the last four decades because they’re simple, conservative and low cost. A different kind of exchange-traded fund is drawing record cash by promoting better returns with the same stocks.
Seven years after selling shares to the public at the height of the buyout boom and then watching them slump, Stephen Schwarzman’s Blackstone Group LP is rewarding investors with the top gains among money managers.
Sugar shipments from India, the world’s second-largest producer, are poised to climb as the biggest monthly gain in prices since 2011 and a state subsidy help mills compete with supplies from Brazil and Thailand.
The value of assets held by energy investors at year-end topped precious metals for the first time since 2009 as gold’s worst performance in three decades spurred a flight from exchange-traded products backed by bullion.
It’s 20 minutes before 4 p.m. in London and currency traders’ screens are blinking red and green. Some dealers have as many as 50 chat rooms crowded onto four monitors arrayed in front of them like shields. Messages from salespeople and clients appear, get pushed up by new ones and vanish from view. Orders are barked through squawk boxes.