March 4, 2013 |
NEW YORK -- Bullish retail investors are helping push stocks near all-time highs, according to retail brokerage TD Ameritrade. Retail investors have steadily been increasing their exposure to the stock market over the last seven months, said Steve Quirk, senior vice president of TD Ameritrade's Trader Group. Investors seemed to have shrugged off the looming spending cuts because of U.S. budget "sequestration" and the recent Italian election that threatened to rekindle European instability as the continent tries to overcome its debt crisis and recession.
March 1, 2013 |
The gig: Nick Segal is president and a founding partner of real estate brokerage Partners Trust, which specializes in the high-end, luxury markets of the Southland. It's his latest endeavor in a real estate career that has spanned decades and included stints with Sotheby's International Realty and DBL Realtors, which Sotheby's acquired in 2004. Partners Trust has offices in Santa Monica, Brentwood, Beverly Hills, Pasadena and Rancho Mirage. The firm, with about 100 agents, deals in expensive properties; last year, the average sale price was $1.65 million.
February 7, 2013 |
CBRE Group Inc., the world's largest commercial real estate brokerage, finished 2012 strong and optimistic as conditions improved in many real estate markets. The Los Angeles firm said Wednesday that its commissions from property sales rose 22% in the fourth quarter compared with a year earlier, led by a 32% jump in the Americas and a 31% increase in Britain. "We are very pleased with our strong finish to 2012," President Robert Sulentic said. "Despite continued fiscal and economic uncertainty, all of our global operating regions delivered solid top-line growth in the fourth quarter.
December 18, 2012 |
B. Riley & Co., a Los Angeles investment bank, bought stock research firm Caris & Co. to increase its sales and trading business amid a slowdown in the brokerage industry. B. Riley, founded in 1997, is adding nine analysts, 12 salesmen and four traders in San Francisco, New York, Los Angeles, San Diego and Atlanta, Chairman Bryant Riley said. Darren Caris, who was president of Caris & Co., will run research, sales and trading, the company said in a statement. Small brokerages including ThinkEquity, Rodman & Renshaw and WJB Capital Group Inc. closed this year as institutional investors turned to computerized stock trading.
October 31, 2012 |
CBRE Group Inc., the world's largest commercial real estate brokerage, turned a profit in the third quarter even as transactions slowed in the U.S. The Los Angeles firm said Tuesday that income from arranging deals to buy or rent space in offices, warehouses and other commercial properties was down slightly from the same period a year earlier. The reduction was more than offset by growth in CBRE's business of managing the real estate assets of other companies and growth in CBRE's mortgage brokerage.
September 4, 2012 |
Even the most financially conservative companies can be tempted by the lure of fast money. Crowell, Weedon & Co., a regional brokerage based in Los Angeles, has preached old-fashioned stock and bond picking to its clients since the depths of the Great Depression. But the company recently lost more than $3 million on credit default swaps tied to the housing market, according to two people who were familiar with the matter but not authorized to discuss it. The blowup occurred at a trading desk set up to make bearish bets on housing using the same kind of tricky financial instruments that nearly sank giant insurer American International Group Inc. in New York in 2008.