Nicholas Schorsch finally got his prize Wednesday when American Realty Capital Properties Inc. said it had acquired rival Cole Real Estate Investments Inc. in a deal valued at $11.2 billion.
Economist predicts weakness, slow growth will persist in world markets
Underperformance leads large client to pull big money from firm's oldest fund.
The Bond King misjudged the timing and impact of the Fed's plan to cut back its asset purchases, sending Pimco's flagship fund to its biggest drop in almost two decades. The call rippled out to other big Pimco funds.
As the year comes to a close, it's evident that independent broker-dealers are racking up a bonanza from the sale of alternative investment products, namely nontraded REITs. Question is, have firms learned from past mistakes?
Pimco's co-chief investment officer Mohamed El-Erian will be taking the reins of the firm's $3 billion multi-asset fund that has underperformed since its launch in 2008. That should help - the fund is based on a book he wrote.
Mutual fund giant seeing fees, assets decline but 401(k) business strong
<i>Breakfast with Benjamin:</i> Private equity giant KKR finds expanding beyond the HNW crowd is not so easy and shuts two retail-focused funds. Plus: Gold jumps on Yellen preview, fund manager changes lead to Morningstar updates, Barclays cuts 12,000 jobs, and another day, another Obamacare delay.
<i>Breakfast with Benjamin:</i> Dr. Doom gets even doomier, using derivatives even when they hurt society, more sluggish economic growth, cashing in on video surveillance, and the pros and cons of free airport Wi-Fi.
The fees with Blackstone Group's nontraded fund of hedge funds make 2 and 20 not so bad. Are the returns strong enough to justify the stiff cost structure?
Economists say initial cut sets the mold as Bernanke emphasizes flexibility.
Long-awaited first step in program to cut back monthly purchases to support recovery
From futures to derivatives, traders don't see the Federal Reserve raising its benchmark interest rate from a record low until nine months after policymakers end their monthly bond purchases of $85 billion, or late 2015.
Private capital flows into emerging markets forecast to drop $153B to $1.1T in 2013.
Subpar performance prompted investors to pull money for the 18th consecutive quarter.
CEO Laurence D. Fink said BlackRock has the potential to increase its asset base by about 5% annually by developing new ETFs and expanding its reach among individual investors.
Today's Breakfast with Benjamin features BlackRock's settlement with the N.Y. attorney general. Plus: Stock futures looking up, activist hedge funds rock, a look at 4Q earnings, the myth of cybersecurity, retirement mistakes to avoid and the upside of office relationships.
