Carl George’s $1.7 billion hedge fund at Pivot Capital Management Ltd. rose 17 percent in 2011 after he predicted a surprise interest rate cut in Brazil.
U.K. stocks fell for the third time in four days as a slide in Inmarsat Plc and basic-resources shares outweighed a gain in Wolseley Plc .
Swiss stocks declined, dragging the benchmark Swiss Market Index lower for the first time in six days, as Credit Suisse Group AG and UBS AG dropped.
Swiss stocks fell, led by financials, as Credit Suisse Group AG and UBS AG dragged the benchmark Swiss Market Index lower for the first time in five days.
A year after European officials bailed out Greece, investors say the region’s banks haven’t raised sufficient capital or cut loans enough to withstand the contagion that may follow a default.
U.K. stocks fell, led by a drop in basic material stocks and utilities, as a global selloff in equities continued on concern that Europe is struggling to deal with its sovereign debt crisis.
Three years after the collapse of Lehman Brothers Holdings Inc., financial shares in Europe are under assault, the cost of insuring bank debt is at records, and bankers see worrying parallels to that time.
"Markets need to acknowledge that the proverbial goal posts have moved."
- Neil Phillips on Sep 26, 2012