Wall Street

The world's largest fund manager just sent a message to investors everywhere

BlackRock, the world's largest investor, just shook up its business, slashing fees on some funds and saying it will increasingly turn to computing power to drive investing decisions.<p>In doing so, the fund manager is tapping into several major trends in the professional stock picking business — as …

Business

MORGAN STANLEY: The bull market in commercial real estate is about to end

The commercial real estate market is showing cracks and will peak this year, Morgan Stanley analysts forecast.<p>"We expect 2017 to mark the end of the bull cycle for US CRE," they said in a note on Wednesday.<p>The big risk for the market is that the growth of net operating income — the revenues …

Business

The Death Of America's Obsolete Retail Sector

<i>By</i> <i>Matthew Carr</i><i>, Emerging Trends Strategist, The Oxford Club</i><p>The casualties are mounting. And the deaths now number in the thousands. There's nothing …

NYSE

Women Don’t Go Into Finance to Find Husbands, and the ‘Fearless Girl’ Statue Is a Reminder of That

New York City Mayor Bill de Blasio announced Monday that the “Fearless Girl” statue will be standing proud in lower Manhattan for at least another …

Financial Markets

F5 Networks' Stock Leads S&P 500 Losers After Deutsche Bank Turns Bearish

Shares of F5 Networks Inc. slumped 3.4% Wednesday, enough to pace the S&P 500 decliners, after Deutsche Bank turned bearish on the business networking company, citing expectations of slowing product and services revenue growth. Analyst Vijay Bhagavath cut his rating to a rare sell, after being at …

S&P 500

US stock indexes mostly higher in afternoon trading; oil up

Energy companies led U.S. stock indexes mostly higher in afternoon trading Wednesday as crude oil prices rose. Banks and other financial stocks fell the most as bond yields headed lower. Investors had their eye on the latest company earnings and economic news. New data showed more people signed …

NYSE

A top Goldman Sachs dealmaker explains the No. 1 lesson she's learned in her career

The truth can be a tough pill to swallow. But ignoring the truth, in many cases, can make things a lot worse.<p>And it is for that reason that Clare Scherrer, a partner at Goldman Sachs, advises wannabe Wall Streeters to accept honest feedback, even if it is sounds harsh.<p>"The most important lesson I …

Business

Bond Heiress Says Ex-Bear Stearns CEO Jimmy Cayne 'Manipulated' Her - Bloomberg

Bond heiress Alexandra Lebenthal struck back at James “Jimmy” Cayne, claiming that the former Bear Stearns Cos. chairman “manipulated” her in …

Business

Collapsed Skyscraper Deal Another Setback for Anbang

China’s Anbang Insurance Group Co. has had a tough time pulling off splashy U.S. real-estate deals since it scooped up the iconic Waldorf Astoria Hotel in 2015.<p>On Wednesday, New York real-estate developer Kushner Cos. said it had ceased talks with Anbang for a planned $7.5 billion redevelopment of …

China

Australia's Most Shorted Stock Has Only One Analyst Saying Sell - Bloomberg

It’s Australia’s most-shorted stock, but only one of the 10 analysts covering it considers it a sell.<p>Meet Aconex Ltd., a Melbourne-based company …

Business

Hedge fund buyers are getting soaked

Last week, Eric Mindich, a well-known hedge fund manager, announced he was closing his Eton Park Capital fund and returning to investors the fund’s remaining $7 billion — half of what it managed at its peak.<p>In his letter to investors, first reported by The New York Times, Mindich attributed the …

Hedge Funds

RAOUL PAL: 'Everyone is going to be on the wrong side of the boat at the wrong time'

The bond market may be setting up for a disaster, but not the way that everyone thinks.<p>After the presidential election in the US, speculators piled into the short side of the market, running longer dated yields up as many as 80 basis points on the belief that President Trump's protectionist trade …

Business

Here's a Wishlist of Regulations to Cut First (After Obamacare)

Business owners have a long list of regulations that they find burdensome. Here are the worst of the worst.<p>In January President Trump signed an executive order meant to kneecap the regulatory apparatus that many small-business owners loathe. The order required that for every new regulation issued …

Business

Dimon Says He'll Leave JPM When the Right Person Is Ready

JPMorgan Chase & Co. CEO Jamie Dimon discusses how he views his role and talks about what he might do next. He spoke to David Rubenstein for the …

Business

Ford to Record $295 Million Charge on Recalls

Ford Motor Co. said a $295 million charge for recalls covering vehicles with fire risks and faulty door latches would contribute to a lower first-quarter profit, the second time in less than a year that safety concerns have hurt the No. 2 U.S. auto maker’s bottom line.<p>The additional expense …

NYSE

The data geeks are taking over Wall Street

There have historically been two dominant tribes on Wall Street.<p>There's the sell side, the investment banks, which, as their name suggests, mostly sell stuff. There's also the buy side, the fund managers, which mostly buy stuff.<p>A third group — including stock exchanges, trading platforms, …

Business

An extraordinary admission by BlackRock — stockpicking doesn’t work

I must admit, even I didn’t expect the house of cards that is active fund management to collapse quite so soon and in such dramatic …

Financial Markets

Given that the Times’ stock is outperforming the Dow, who exactly is failing?

It is President Trump himself who has established that the Dow Jones industrial average should be considered a gauge of his success. He did so in a tweet last month, celebrating how well the market had performed since he was elected.<p>The day prior, his adviser Kellyanne Conway had made a similar …

Donald Trump

Wall Street’s Bull Market Forecast Is Total Bull

In the world of investing, no phenomenon is more remarkable than the tendency of Wall Street's brilliant, richly bonused prognosticators to make …

Stocks

Why GM's battle with Wall Street titan could drag on

DETROIT -- General Motors once again finds itself in the middle of a high-stakes, high-finance battle with one of the titans of Wall Street — David Einhorn.<p>The hedge fund billionaire essentially wants to split GM's stock into two classes — one designed for big dividend returns and another designed …

Financial Markets

Why David Einhorn’s Stock Proposal For GM Might Be A Non-Starter - Focus on Funds

By Crystal Kim<p><b>Greenlight Capital’s</b> <b>David Einhorn</b> is certainly creative, but his stock split proposal for <b>General Motors</b> (GM) is a non-starter. This …

Financial Markets

London Stock Exchange CEO Watches His Biggest Merger Bet Die - Bloomberg

The biggest deal in former Goldman trader Xavier Rolet’s career is dead, and so are his plans for imminent retirement.<p>While Rolet, chief executive …

Financial Services

What Jackpotjoy does John Paulson see?

The US hedge fund manager, John Paulson, who famously backed Sino-Forest, before the Canadian business disappeared following short seller inquiries, …

Financial Markets

Active Managers Holdings Update: It’s All Pro-Cyclical

Pro-cyclical seems to be the name of the game for active managers when it comes to sector positioning. Cyclical versus defensive positioning reached …

Financial Markets

Donald Trump Ends “War on Coal” by Declaring War on Breathable Air

The planet may be going to hell, but we might be getting a few new jobs in exchange.<p>Following his failure to kill—sorry, liberate—millions of Americans by effectively taking away their health insurance, <b>Donald Trump</b> on Tuesday decided to dream bigger, setting his sights on the destruction of the …

Coal

How BlackRock Makes Money

With $5.1 trillion in assets under management, BlackRock, Inc. (BLK) is, at least by that measure, the largest investment management company in the …

Stocks

Investors Don't Have Too Much of a Good Thing

Contrarian stock-market investors have no shortage of warning signs these days. One important indicator may supersede them all.<p>Stock indexes are near records and valuations are historically elevated. The CBOE Volatility Index, or VIX, is abnormally calm, sitting at a level lower than all but 3% of …

Business

3 Stocks To Buy Right Now

<b>Mark Travis:</b> I’m the lead manager of the Intrepid Capital Investor Fund (NASDAQ: ICMBX). I started in the industry as a 22-year-old. My father was an E.F. Hutton broker. Our firm Intrepid Capital is 22 years old and we started the first of our mutual funds in 2005.<p>I try to protect and grow the …

Stocks

The harsh realities of leading through change

Implementing any kind of change will most likely be met with scepticism and unhappy staff, but these leaders explain why trusting your decisions and doing what’s best for the business is crucial.<p>In 2011, Waterstones was in serious trouble. “It lost £37m in the year that I joined,” says managing …

NYSE

George Soros' former right-hand man reportedly just bought a $36 million mansion in Malibu

Billionaire trader Stanley Druckenmiller and his wife Fiona look to have scooped up an oceanfront Malibu pad next door to action star Jason Statham for $36 million, The Real Deal has learned.<p>The five-bedroom, seven-bathroom property on Malibu Colony Road, which totals 6,900 square feet, sold in an …

Real Estate