Matt Ackermann
Director of Digital Content at InvestmentNews. Twitter: @acketyack
Director of Digital Content at InvestmentNews. Twitter: @acketyack
Wall Street's biggest banks say the slump in emerging-market assets that left equities trailing advanced-nation shares by the most since 1998 last year will prove more than a fleeting selloff.
DoubleLine Capital hired Pacific Investment Management Co.'s Ignacio Sosa as director for a newly created product solutions group as chief executive Jeffrey Gundlach looks to expand outside the U.S.
Premature withdrawals from retirement accounts have become America's new piggy bank, cracked open in record amounts during lean times by people such as Cindy Cromie, who needed the money to rent a U-Haul and start a new life.
Warren E. Buffett, who invested $5 billion in Bank of America Corp., said he's confident the lender will overcome an accounting mistake that forced the firm to suspend an increased payout to shareholders.
