Buffett, Who Invests `Forever,’ Finds Shorter Time Horizons Unprofitable Billionaire Warren Buffett likes to say his favorite length of time to hold a stock is “forever.” That’s a good thing because some of his more recent investments aren’t making him money in the short run.
Madoff’s Wife Withdrew $10 Million on Eve of His Arrest, Complaint States Bernard Madoff’s wife withdrew $15.5 million from a brokerage account at a firm co-owned by her husband late last year, including $10 million on the eve of his arrest, Massachusetts securities regulators said.
Madoff Prosecutors Win Extension to Obtain Indictment in Ponzi Scheme Case U.S. prosecutors obtained a 30-day extension of a deadline to indict Bernard Madoff, the investment adviser charged with securities fraud for masterminding the largest Ponzi scheme in history.
Putnam Investments Fires 260 Employees, 11% of Workforce, as Assets Fall Putnam Investments plans to eliminate 260 jobs, about 11 percent of its workforce, as slumping markets have slashed assets under management.
Pimco’s Gross Purchased Mortgage-Backed Bonds, Sold U.S. Debt in January Bill Gross, manager of Pacific Investment Management Co.’s $136 billion Total Return Fund, bought mortgage-backed bonds in January, bringing the percentage of the fund’s assets in mortgages to the highest in at least a year.
Citigroup’s Pandit Will Take $1 Salary, No Bonus Until Bank Makes Profit Citigroup Inc. Chief Executive Officer Vikram Pandit said he will take a salary of $1 and no bonus until the bank, which has accepted $45 billion in government bailout money, returns to profitability.
Geithner Leaves Key Questions Unanswered, Risking Sabotage for Bank Plan Treasury Secretary Timothy Geithner ducked the tough questions investors want answered as he rolled out a plan to repair the financial system — and stock traders made him pay for it.
Investors Worldwide Predict More Declines in Next Six Months for Stocks Investors in 10 markets from New York to Paris and Tokyo forecast that stocks will fall over the next six months, snuffing out a two-week rally, as policy makers grapple with the deepest global recession since World War II.
Harvard Says Endowment Sold 67% of U.S.-Listed Stocks in Fourth Quarter Harvard University, the richest U.S. college, sold 67 percent of the U.S. stocks held by its endowment in the fourth quarter as the equities market endured its biggest loss in 21 years.