-
After a decade-long effort by holders of the personal financial specialist credential, aspiring candidates can be tested on investments, retirement plans and other areas.
13m ago -
During first-quarter earnings calls, top executives of mega firms like Goldman Sachs, Morgan Stanley and Citigroup talked about how they're testing AI and high-tech tools.
April 18 -
Experts from the Fed, Intuit and the Urban-Brookings Tax Policy Center explored ideas for more effective ways to advance the goals of the mortgage interest deduction.
April 18 -
Romantic partners usually agree on their broad retirement goals, a new Ameriprise study shows. But the consensus breaks down over smaller questions.
April 18 -
The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
April 17 -
A therapist in New York still has $50,000 in student loans. Can President Biden's new policy bring her relief?
April 17
March 20, 2008, 9:08 a.m. EDT 1 Min Read
While the Securities and Exchange Commission looks into unusually high put activity at Bear Stearns beginning on March 7, a handful of hedge fund managers used their magical touch as far back as the summer to foresee what was going down with regards to the subprime exposure at the investment firm.
Thus, the hedge fund managers handily earned themselves millions. As The Journal puts it, the asset managers are undoubtedly trying to contain their joy among all the gloom on Wall Street.
Also this morning, the Associated Press cites a regulatory filing indicating that U.K. billionaire Joseph Lewis is valiently attempting to hold onto his 8.4% stake in Bear Stearns.
And further across the pond, the Russian police have raided the Moskow offices of energy joint venture TNK-BP. So while the market gyrates with bad news from Bear Stearns, there is, of course, always the counterplayas evidenced by JPMorgan Chase, Mr. Lewis, Greenlight Capital and other savvy hedge fund managers.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.
For reprint and licensing requests for this article, click here .