January 13, 2010 |
DoubleLine Capital, formed by star bond fund manager Jeffrey Gundlach after he was fired by L.A. money management firm TCW Group last month, on Tuesday registered to launch its first three mutual funds for individual investors. Gundlach, who is in a vicious legal battle with TCW, hopes to lure investors from the TCW funds he had managed for the last decade, including TCW's retail flagship, Total Return Bond fund. In a filing with the Securities and Exchange Commission, DoubleLine applied to launch its own Total Return Bond fund, which like TCW Total Return Bond would invest primarily in mortgage-backed bonds.
October 8, 2009 |
California came up short as it tried to sell longer-term municipal bonds to individual investors this week -- the first such sale since last spring. The steep decline in market yields on muni bonds since July has left many investors unwilling to lock up their money in new bonds, traders said. California, which is offering $1.3 billion in tax-free general obligation bonds to finance voter-approved infrastructure projects, said it took in orders for $428 million, or 33% of the total, on Tuesday and Wednesday.
August 25, 2009 |
Stung by punishing losses in the bear market, some individual investors are souring on traditional buy-and-hold investing in favor of aggressive trading aimed at scoring big gains. Trading at online brokerages has soared in recent months as investors have tried to capitalize on rising securities markets. But individual investors increasingly are embracing strategies that carry outsized risks. In some cases, for example, investors have ventured into a relatively new type of investment product designed to magnify the movement of the underlying markets.
July 4, 2009 |
A last-minute rush by investors, including one who drove from Mexico to Dallas to beat the July 2 deadline, pushed the final number of claims in the Bernard L. Madoff fraud to more than 15,000, officials said Friday. They e-mailed, mailed and walked their claims to a central processing office in Dallas and the New York office of Irving Picard, the trustee appointed by the federal Bankruptcy Court to recover assets for distribution to defrauded investors.
March 20, 2009 |
California plans to sell $4 billion in tax-free bonds next week to fund infrastructure projects, and the state is hoping for robust demand from individual investors. The offering is expected to be a big test of California's standing in financial markets amid a still-precarious budget situation. The last state bond sale was in June.
January 1, 2009 |
Wall Street on Wednesday closed out its worst year in more than seven decades, battered by a devastating credit crunch that smashed investor and consumer confidence and fueled fears of another Great Depression. The Dow Jones industrial average plummeted 34% for the year -- the steepest drop since the blue-chip index crashed 53% in 1931, the second full year of the Depression.
October 16, 2008 |
What credit crunch? Californians are falling over themselves to extend credit to the Golden State, which is floating an offering of short-term IOUs this week. But robust demand for the tax-free debt will mean lower yields than investors might have hoped. Treasurer Bill Lockyer on Wednesday boosted the size of the state's offering of so-called revenue anticipation notes to $4.5 billion from $4 billion, amid a huge wave of orders from individual investors. Those orders totaled $3.
October 4, 2008 |
Less than an hour after the stock market closed Monday with a record 777-point drubbing in the Dow Jones industrial average, financial planner Mark Wilson got an anguished call from a longtime client. The client, a woman in her late 50s who was nearing retirement, had become so frightened by the market's wild swings over the last month that she instructed Wilson to sell all her stocks. "She said, 'I can't take the volatility.
November 30, 2007 |
Strong demand by individual investors helped California sell $1 billion in tax-free bonds Thursday at a time when some institutional investors have pulled away from municipal securities. State Treasurer Bill Lockyer said individuals bought 35%, or $350 million, of the general obligation bonds, which will finance various infrastructure projects. By contrast, individuals bought 28% of a $2.5-billion state bond offering in June.
June 5, 2007 |
State Treasurer Bill Lockyer is about to launch the first campaign urging people to Buy California. No, the state's top money man isn't referring to locally grown corn or nectarines at state-sponsored farmers markets but to $5,000 lots of tax-free California municipal bonds that will finance the construction of highways, bridges, schools and other public works for decades to come.