Fri, Jul 31 2015
- State public pension funds love buying shares in local companies, but it is not so much a matter of “buying what you know” as “buying shares of companies with political clout.”
BOSTON - Billionaire hedge fund manager John Paulson, one of the world's most influential gold investors, said on Friday that the metal is now at an appropriate price level, following last week's rout that dragged prices to five-year lows.
LONDON - U.S. equities' share in global portfolios fell to the lowest in at least five years and U.S. bond allocations were also cut as nervous investors started readying themselves for the first Federal Reserve rate rise in almost a decade.
- Many wealthy people struggle to talk to their children about how much money they have. What if they divulge too much and the kids blab about it on social media? What if they share too little and the children are overwhelmed by an inheritance?
- The founders of Vermillion Asset Management have left the firm after an exodus of investor cash left just $50 million in assets at its flagship fund, a person familiar with the matter said, in the latest upheaval at a big commodities fund amid a price rout.
BOSTON - Hedge fund mogul David Einhorn's Greenlight Capital slumped 6.1 percent in July and is now down 9 percent for the year after gold, one of the fund's top holdings, tumbled to five-year lows last week.
NEW YORK - Investors worldwide pulled $1.2 billion out of precious metals funds in the week ended July 29 on expectations for higher U.S. interest rates and weakness in Chinese shares, data from a Bank of America Merrill Lynch Global Research report showed on Friday.
- U.S. fund managers raised bond exposure in their model global portfolios and cut their recommended cash allocations to a 14-month low in July, despite the likelihood of a U.S. interest rate hike in coming months, a Reuters poll found.
Thu, Jul 30 2015
CHICAGO - Medicare turns 50 on Thursday, riding high in the polls but under attack from presidential candidates proposing benefit cuts or even phasing out the U.S. healthcare program for older people.
NEW YORK - UBS AG's Wealth Management Americas unit, which earlier this week reported its adviser force shrank for the fourth straight quarter, said on Thursday it hired three advisers with about $400 million in assets away from rival Morgan Stanley.
As expected, Friday's public release of thousands more emails Hillary Clinton sent or received while U.S. secretary of state is streaked with white bars marking where the government has redacted information not fit for public consumption.