A Morgan Stanley broker and a law firm employee were charged with insider trading in a scheme that included passing tips on notes and napkins that a middleman swallowed under the big clock in Grand Central Terminal.
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.
Bill Gross, musing on his legacy in an April investment outlook, contended that the real test of his greatness as an investor would be his ability to adapt to a new era of shrinking bond market returns.
Guggenheim Partners LLC, the U.S. firm seeking to acquire Deutsche Bank AG’s asset management businesses, would quintuple in size with the deal, enabling it to better compete against the biggest global investors.
The head winds grew so intense during the 508-mile race through California’s Mojave Desert and Death Valley that Joshua Friedman told his teammates he thought he would be blown off his bike. Instead of tumbling down, the hedge-fund manager powered through his 86-mile leg of the Furnace Creek 508, showing little fatigue after he dismounted his bike.