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So, the efficient market theory vanquished active management (okay, people still argue over this but given the amount of money flowing into passive indexes and ETFs . . . ). Now Warren Buffett says the S&P 500 can outperform a professionally...
Investors may not be that impressed by Lehman CFO Erin Callan's forthrightness. The Wall Street Journal (among others) reported today that Lehman Brothers Holding is taking a $2.8 billion loss for the second quarter—a worse-than-expected...
According to analyst Richard Bove of Punk Ziegel (now a unit of Ladenburg Thalmann & Co.), Reuters reports, “Jamie Dimon did one for the United States. He's a patriot—but he didn't do one for JPMorgan.”
According to today’s New York Sun, Eliot Spitzer, the disgraced former New York State governor once heralded as Sheriff of Wall Street, is mulling launching a distressed real estate fund.
Credit downgrades last week to MBIA and AMBAC Financial Group, the world’s largest bond insurers, will lead to more write-downs at Citigroup, Merrill Lynch and UBS, according to a research report from Oppenheimer analyst, Meredith Whitney.
This weekend won’t likely be a relaxing one for UBS executives, private bankers and thousands of wealthy American clients. The New York Times reports today that the firm is under intense pressure from authorities as one of its top private...
A Manhattan Criminal Court ruled yesterday that a hedge fund manager was not seriously injured when a stockbroker threw him off his exercise bike during a spin class at a health club. The stockbroker said, yeah, he threw the hedgie off his bike...
Wachovia announced today that CEO and chairman, G. Kennedy “Ken” Thompson had retired, at the Board of Director’s request. Thompson worked 32 years at the bank, and acted as chairman and CEO from 2000 to May 2008.
Richard Zinman, a star Smith Barney broker, and his team left the bank for Credit Suisse on Friday, Business Week reports. Zinman is consistently ranked among the top broker’s in the country in terms of assets under management; he tied for...
A former UBS private banker, Bradley Birkenfield, charged with helping U.S. clients evade millions in taxes is going to plead guilty in court next month, reports The Times Online, the web edition of the fabled London-based newspaper.
