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PW News
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Falcone’s Harbinger Is Said To Borrow $190 Million At 15% Rate |
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February 09, 2012 |
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Phil Falcone’s hedge fund is paying a 15 percent interest
rate for a $190 million loan, almost triple what the riskiest corporate
borrowers pay, said two people with knowledge of the loan.
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Wilmington Trust Offers Sobering View Of U.S. Economy |
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February 08, 2012 |
Wilmington Trust gave a sobering assessment of the U.S. economy and
in particular investment grade bonds whose stability has been comforting
to investors lately.
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Falcone’s Harbinger Hedge Fund Lost 47% On LightSquared In 2011 |
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February 03, 2012 |
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Phil Falcone’s Harbinger Capital Partners LLC lost 47 percent for
investors in his main hedge fund last year, according to a
person familiar with the results.
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Swiss Bank Wegelin Charged With Helping U.S. Clients Evade Taxes |
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February 03, 2012 |
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Wegelin & Co., the 270-year-old private bank, became the first Swiss
lender to face criminal charges in a broadening U.S. crackdown on
offshore firms suspected of helping Americans evade taxes.
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Christie’s Sales Surge 9% On Warhol, Picasso |
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February 01, 2012 |
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Christie’s International said there was a surge in demand for
contemporary art as an investment, after its sales climbed 9 percent in
2011.
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Billionaires Occupy Davos, Bemoan Inequality |
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January 25, 2012 |
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Some of the richest participants in this year's World Economic Forum in Davos, Switzerland, say economic disparity needs to be addressed.
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Art Investors Lured By Fund's 12% Return Offer |
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January 24, 2012 |
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Investors are being invited to join a European-based group that plans to
buy about $80 million worth of art and forecasts annual returns of 12
percent.
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Audubon’s 'Birds Of America’ Fetches $7.9 Million At Christie’s |
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January 20, 2012 |
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A complete first edition of John James Audubon’s “The Birds of America”
fetched $7.9 million at Christie’s today, just above the low presale
estimate and far shy of a record.
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Einhorn’s Greenlight Bullish On ‘Cheap Stocks,’ Bought Dell |
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January 19, 2012 |
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Greenlight Capital Inc., bought
shares of Dell Inc. and Xerox Corp. in the fourth quarter as part of a
bet on undervalued U.S. stocks, according to a letter to investors.
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Family Offices Make Few Strategic Changes, Study Says |
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January 18, 2012 |
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Family offices have made few changes to their investment strategies since the upheavals of 2008 and 2009, according to a new study.
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Man Group Steps Up Cost Cuts As Funds Under Management Fall |
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January 18, 2012 |
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Man Group Plc, the world’s largest publicly traded hedge fund, will
reduce pay and eliminate jobs in a plan to reduce costs by about 10
percent as market turmoil prompted clients to withdraw money.
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Clients Lean On SFOs For Healthcare Services, Study Says |
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January 17, 2012 |
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Wealthy families are increasingly turning to their family offices for
help with their healthcare needs, according to a new study.
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Cartier Turns To More Discreet Watches To Assuage Guilt |
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January 16, 2012 |
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Cartier says it’s pulling ahead of luxury rivals
with watches that match the tenor of the times for less ostentatious
displays of wealth.
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Billionaire Paulson Persists With Property |
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January 13, 2012 |
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Mortgage securities are drawing buyers after tumbling last year and
handing billionaire hedge fund manager John Paulson his first loss in
the bond market.
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IRS Gives U.S. Citizens Chance To Come Clean |
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January 11, 2012 |
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The Internal Revenue Service is giving U.S. citizens who have shielded
assets offshore a third opportunity to come clean, pay a penalty and
avoid criminal prosecution.
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