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Nov 18, 2011

Analysis: Bill Miller’s fall shows luck at play in investing

By Ross Kerber and Aaron Pressman

(Reuters) – During famed fund manager Bill Miller’s 15-year streak of outperforming the S&P 500 Index .SPX, he was often held up as proof that stock picking wasn’t just dumb luck. It required skill.

But the streak ended in 2006 and Miller became a poster boy for the other side of the debate over the ensuing years, as miserable performance brought his once-stellar record back to earth.

Nov 9, 2011

Italy woes signal dangerous phase in crisis -PIMCO

NEW YORK, Nov 9 (Reuters) – Italy’s debt woes signal “a
new, even more dangerous phase in Europe’s debt crisis,”
Mohamed El-Erian, co-chief investment officer of top bond
manager PIMCO, said on Wednesday.

The European Central Bank can act as a circuit breaker but
can only be effective if its actions are supported by a host of
other measures, El-Erian, who helps oversee more than $1.2
trillion at PIMCO, home to the world’s largest bond fund, told
Reuters.

Nov 3, 2011

BlackRock’s Botein adds investor alternatives

BOSTON, Nov 3 (Reuters) – BlackRock (BLK.N: Quote, Profile, Research), the world’s
largest money manager, wants to attract more customers to its
hedge fund, real estate and private equity offerings, filling a
void left by Wall Street cutbacks.

With investment banks curtailing proprietary trading and
buyout funds in the face of tighter regulation, money managers
like BlackRock are raising funds from clients to chase other
opportunities and raid the talent to exploit them.

Oct 6, 2011
via MediaFile

Steve Jobs: Agent of change

By Aaron Pressman
The opinions expressed are his own.


It’s probably fitting that on the day Steve Jobs died the company he co-founded was vying for the crown of most valuable with Exxon Mobil, the legacy of an earlier titan of commerce, John D. Rockefeller. In the early 20th century it was Rockefeller who had the vision to remake entire industries and help modernize the U.S. economy while creating vast fortunes in the process.

Jobs’ legacy may become equally great. Starting at the dawn of the personal computer age, Jobs’ visionary moves at Apple rippled across the technology industry and helped ready the economy for the information age.

Sep 21, 2011

Analysis: Fed’s twist moves hurts company pension plans

BOSTON (Reuters) – The Federal Reserve’s ‘Operation Twist’ to bring down bond yields and stimulate the economy is likely to cause pain for the nation’s largest pension funds, already struggling with funding shortfalls from the recent stock market decline.

Hit both by falling stock prices and falling bond yields, the 100 largest pension plans of public U.S. companies have assets covering only 79 percent of their liabilities as of the end of August, down from 86 percent at the end of 2010, according to consulting firm Milliman Inc.

Sep 16, 2011

Analysis: Gundlach on top even after court setbacks

By Jennifer Ablan and Aaron Pressman

(Reuters) – Even when the newly anointed “bond king” Jeffrey Gundlach suffers some setbacks in an ugly court spat, he manages to come out a winner.

On Friday, a Los Angeles jury found Gundlach liable for breaching his fiduciary duty as well as taking trade secrets and interfering with the contracts of clients at the TCW Group Inc., the asset management firm that fired him in December 2009.

Sep 16, 2011

Analysis: Bond titan Gundlach on top even after court setbacks

By Jennifer Ablan and Aaron Pressman

(Reuters) – Even when the newly anointed “bond king” Jeffrey Gundlach suffers some setbacks in an ugly court spat, he manages to come out a winner.

On Friday, a Los Angeles jury found Gundlach liable for breaching his fiduciary duty as well as taking trade secrets and interfering with the contracts of clients at the TCW Group Inc., the asset management firm that fired him in December 2009.

Aug 26, 2011

ETF leader BlackRock files to run its own indexes

NEW YORK/BOSTON, Aug 26 (Reuters) – BlackRock Inc (BLK.N: Quote, Profile, Research, Stock Buzz),
the largest manager of exchange-traded funds, has filed to
create its own market indexes for its iShares funds, a move
that could significantly reduce the firm’s costs.

According to an Aug. 25 securities filing, BlackRock wants
exemptions from portions of the Investment Company Act of 1940
so it can provide indexes for its own funds, as the Securities
and Exchange Commission has granted to some other managers.

Aug 25, 2011

Investors who follow Buffett in BofA may be sorry

BOSTON, Aug 25 (Reuters) – Following Warren Buffett is
usually an easy way to make money, but in the case of the
oracle’s investment in Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz) investors
may find it a lot tougher.

Buffett is buying preferred shares with ample warrants
thrown in as a sweetener– a deal not available to the general
public.

Aug 9, 2011

As swift bear market bit, some funds were prepared

BOSTON, Aug 9 (Reuters) – Some investors burned by the bear
market of 2008 have gravitated to funds that use short-term
tactics to avoid losses — and the strategy has paid off in
recent months.

Such funds, like the $7.3 billion Eaton Vance Global Macro
Absolute Return Fund EAGMX.O or the $14.8 billion Permanent
Portfolio PRPFX.O, have recently outperformed the market and
traditional lower-risk balanced funds.

    • About Aaron

      "Boston-based reporter covering investment management and investing. Previously worked at Businessweek in Boston and at The Industry Standard and Reuters in Washington, D.C."
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