Although the stock prices of mortgage giants Fannie Mae and Freddie Mac were bruised, a handful of mutual funds continue to hold the securities, either because they underestimate the risk or because they are smarter than the average bear.
Economists at major U.S. corporations believe that the economy will steer clear of a recession.
The board took action to improve transparency in the municipal bond market during its three-day meeting.
Citigroup lost $2.5 billion in the second quarter while Merrill Lynch was down $4.65 billion.
the S&P 500 is down 2.95% this decade — well below the 2.04% real advance during the 1930s.
The ex-Stamford, Conn.-based hedge fund managed by Samuel Israel defrauded investors out of $300 million.
In a recent survey, 321 advisers were asked to identify their three biggest areas of difficulty out of 10 system areas.
Wilmington Trust reported a second-quarter loss of $19.5 million on impairment charges and a securities loss.
The $12.5 billion allocated to hedge funds during the quarter marked the lowest level of new capital since 2005.
Clients would have to have a net worth of at least $1.5 million for investment advisers to charge them performance fees.
