What the Financial Gurus Say About Volatility as Stocks Go on Roller Coaster Ride
Investors around the globe could use some advice from experts on volatility as the major U.S. stock indices surged today following worst day for the Dow Jones industrial average in four years. The more than 2 percent jump as of early afternoon today follows a bloodbath on Monday, when the Dow
Subprime Auto Loans Help Fuel Auto Sales Boom
Morning Money Memo… Auto sales are booming with a strong pick-up in demand for light trucks and SUVs. “September was another strong month,” said Karl Brauer, senior analyst at Kelley Blue Book. “The market continues to embrace trucks and SUVs at every price point, with...
PIMCO Losing Big Bucks
Global investment firm PIMCO is suffering from a big bond sell-off in the wake of the departure of co-founder, Bill Gross.
The Rich Get Even Richer on Forbes 400 List
Morning Money Memo: Bill Gates is the wealthiest person in America for the 21st straight year, says Forbes magazine. Gates is worth $81 billion, up $9 billion. According to the latest Forbes 400 rankings, the average net worth of each member is $5.7 billion, the...
Janus Jumps While Pimco Slumps
But damn that my New York Wall Street and it's at close up shop this Friday September 26 and this story stock. Today a look at heavyweight battle in big money management firms. This is legendary trader Bill Gross and Pimco company that he found it and then joins Janice capital that are discussed
Outspoken 'Bond King' Bill Gross Leaves PIMCO , the Firm He Started
Bill Gross is about as eccentric as eccentric billionaires get. Worth an estimated $2.3 billion, he's always done things his way, which is why his departure from the firm he started has shocked investors. PIMCO (Pacific Investment Management Company) announced today that the 70-year-old has
'Fiscal Cliff' Standoff Weighs on Stocks, 401(k)s
Investors hate uncertainty, and Washington’s game of cat and mouse on the so-called fiscal cliff of tax hikes and spending cuts has erased hundreds of billions of dollars from wealth of Americans. If a deal is not reached, the consequences for the economy will be severe,...
The Global Note: Euro-Rescue?…CIA Attack…Sunken Treasure…Knox Called “She-Devil”
EUROZONE RESCUE? -QUOTEABLE “The world is now in a synchronized slowdown.” – Mohamed El-Erian, chief executive of Pacific Investment Management Co., the biggest bondholder in the world. -THE BIG PICTURE European officials are rushing (one hopes) to boost the firepower of their financial-bailout ...
U.S. economy still paying for past debt binge
The debt fight that played out in the nation's capital this long, hot summer and the ensuing U.S. credit downgrade by Standard & Poor's was the latest chapter of a painful story that began years ago. In the 2000s, banks, homeowners and consumers became bloated on too much leverage, or borrowed