Gold has long been favored by a fringe of the investment world, but this year some of the world's leading hedge-fund managers have loaded up on the precious metal amid concern government efforts to avoid another Great Depression that could undermine major currencies and fuel rampant inflation.
Money is still flowing into the hedge-fund industry as investors are lured by a rebound in performance this year, according to data from HedgeFund.net.
Two former Bear Stearns Cos hedge fund managers were acquitted on Tuesday of fraud charges in the first criminal trial of prominent Wall Street executives stemming from subprime mortgage securities that fueled a market meltdown.
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Morgan Stanley (MS) sold a claim on $1.2 billion of Lehman Brothers‘ (LEHMQ) liquidation to about 10 different investors this week. The claim was connected to approximately 10,000 derivative transactions for which Lehman was the counterparty. The sales price was 38.5% of the face value or $462 million.
Lehman Brothers Holdings filed for Chapter 11 [...]
This week's show features guest Ketul Kirtikumar of US Equity Research. In addition to talking about his stock selection method, Mr. Kirtikumar offers his opinions on Phillip Morris International (NYSE:PM) and National Oilwell Varco Inc. (NYSE:NOV) as well. The program also includes commentary on the proposed federal bailout of troubled financial firms in wake of the failures of Lehman Brothers (OTC:LEHMQ) and Washington Mutual (NYSE:WM), while the "I Need to Know" segment explains Bollinger Bands.
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