The head of Lancer Management Group LLC and Lancer Management Group II LLC has been found guilty of overstating the hedge funds’ valuations, manipulating the prices of seven securities and falsely representing the funds’ holdings in newsletters.
Investors scared away by shaky equity markets have been mining the gold market, but financial advisers are mixed as to whether the investments in the precious metal are a long-term play.
New jobless claims rose to their highest point in seven years due to the weakening economy and the recent hurricane season, according to a report released today by the Department of Labor.
Advisers undoubtedly are concerned about their clients in this time of financial crisis, said Charles Goldman, executive vice president of Schwab Institutional, but they probably aren’t doing enough about it.
Sales of existing homes fell to a seasonally adjusted rate of 4.91 million units in August, down 2.2% from July and 10.7% from a year ago, according to the National Association of Realtors of Chicago.
Treasury Secretary Henry Paulson today told a House committee he was open to considering limits on executive compensation in the Bush administration’s proposed $700 billion bailout package for the nation’s financial institutions.
Lauded for its ability to make use of advanced technology to make its website user-friendly, Fidelity Investments Institutional Services Co. of Boston was ranked as the financial intermediary with the best website by kasina LLC.
Confidence among global institutional investors continued to slump this month as increased market turmoil has caused investors to lose their appetite for risk, according to the State Street Investor Confidence Index.
The historic bailout may be as low as $100 billion to $200 billion, rather than the $700 billion being requested by the administration, House Financial Services Committee Chairman Barney Frank, D-Mass. said yesterday.
Kohlberg Kravis Roberts posted a total investment loss of $1.1 billion for the six months ended June 30, down from a net gain of $3.4 billion in the first half of 2007, according to a prospectus filed with the SEC.
