December 2, 2010 |
Sebastian Mallaby, a veteran journalist who has worked for the Washington Post and the Economist, came out this summer with what has been described as the definitive study of the hedge fund industry with his book "More Money Than God. " Using his access to some of the most secretive and wealthy investors in the world, Mallaby explored the gilded world of these highfliers and explained why many hedge funds seemed to come out of the financial crisis...
August 2, 2010
When weighing the results of a medical study it's important to consider who supplied money to conduct the research. According to an analysis of drug trials published Monday, studies were much more likely to be positive -- that is, showing the drug worked -- in trials that were funded by the pharmaceutical industry. Researchers reviewed 546 drug trials and found that industry-funded trials reported positive outcomes 85% of the time compared with 50% of the time for government-funded trials and 72% of the time for trials funded by nonprofits or non-federal organizations.
March 31, 2010 |
Mutual funds that charge exorbitant fees can be sued for violating their duty of trust to investors, the Supreme Court ruled Tuesday, rejecting the view that the free market can be counted on to ensure fair fees. But the justices also made it hard for plaintiffs and securities regulators to win such claims and warned judges against "second-guessing" the pay decisions made by an independent board of directors. The mixed result came in one of this term's most closely watched business cases.
November 6, 2009 |
As an eavesdropping-detection specialist, Kevin D. Murray normally works for companies concerned about possible spying by competitors. But since a blockbuster insider-trading prosecution built on wiretaps and microphone-wearing informants became public last month, frantic hedge fund managers have raced to hire him. "The nature of the question is 'Can you tell me if the government's bugging me?' " Murray said, adding that he turned down the three firms that approached him. Two years ago, hedge fund managers were acclaimed as financial whizzes, envied and even grudgingly respected for raking in gobs of money with daredevil investment strategies.
July 2, 2009 |
An investigator at the Securities and Exchange Commission warned superiors as far back as 2004 about irregularities at Bernard L. Madoff's financial management firm, but she was told to focus on an unrelated matter, according to agency documents and sources familiar with the investigation.
March 18, 2009 |
Hard times for the mutual fund industry will mean more layoffs at Los Angeles-based titan American Funds, and no merit pay increases this year for remaining employees, the company confirmed Tuesday. It's another sign of the drastic shrinkage of the financial services industry as the stock market has suffered its biggest dive since the 1930s: Layoffs and pay freezes had been virtually unheard-of at American Funds in its 80-year history. The privately held firm -- the second-largest U.S. manager of stock and bond mutual funds, with about $700 billion in assets -- has a reputation for being benevolent to its workers.