Wall Street capped a volatile week with a big advance Thursday, rebounding from a steep sell-off as investors sought bargains and cheered a milder-than-expected drop in a regional manufacturing report.
Monday, 24 March 2008
PM to lay foundation stone for 1500 MW project
Commodity Online NEW DELHI: Prime Minister Manmohan Singh will lay the foundation stone for the 1500 mw Pragati Phase III gas based power plant ,to come up at an estimated cost of Rs 4,500 crore in West Delhi.
16 funds that star in bear markets
These stock funds weathered the 2000-02 downturn, and their resilience is shining through again. A screen helped find winning funds with bear-tested managers.
Saturday, 22 March 2008
US Treasury says Feds Bear actions help all investors
WASHINGTON (Reuters) - The Federal Reserves actions to lend billions of dollars to prop up and sell off ailing brokerage Bear Stearns will help all Americans by stabilizing capital markets, a senior U.S. Treasury official said.
An elite investment that cuts taxes
Exchange-traded notes look like mutual funds and ETFs, but theyre a form of the derivatives that big-money investors use for things like sheltering income. That advantage makes them worth a look.
Catering to the bailout nation
Heres where building bubbles on top of bubbles has brought us. Instead of letting the market work and creative destruction run its course, too many people want a handout.
Wednesday, 12 March 2008
Drake Management May Shut Down Largest Hedge Fund After Losses
(Bloomberg) -- Drake Management LLC, the New York- based firm started by former BlackRock Inc. money managers, may shut its largest hedge fund after a 25 percent decline last year, according to a letter to investors.
Winding down the $3 billion Global Opportunities Fund is one option being considered by Drake ``in an attempt to maintain and maximize value for investors during this period of severe market downturn and contraction of liquidity,'' the letter said.
Drake, which had blocked most redemptions from the fund in December, is reviewing other options, including allowing investors to get their money back over the next 18 months or to move their assets to a new fund. Drake, which managed $13 billion as recently as the end of the year, is considering similar steps for its two other hedge funds.
Hedge funds with more than $5.4 billion have been forced to liquidate or sell assets since Feb. 15 as contagion from the U.S. subprime slump spreads for a seventh month. Others include Peloton Partners LLP's $1.8 billion ABS Fund, Tequesta Capital Advisor's mortgage fund and Focus Capital Investors LLC, which invested in midsize Swiss companies.
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