The Oracle of Salt Lake City? Allan Mecham’s Success Confounds Experts
by Lisa Swan on February 22, 2012
How did a college dropout from Utah manage to get better returns than some of the biggest names on Wall Street? That’s what Smart Money is asking about one money manager.
Over the last 12 years, the 34-year-old Allan Mecham, who runs little-known Arlington Value Management, has gotten an incredible 400% return on his investments in U.S. companies such as PepsiCo and Phillip Morris. He even managed to make a little money during the 2008 financial crisis. And he did it all from … Read More »
From Trash to Treasure? Toxic Mortgage Bonds Are Gaining in Popularity
by Lisa Swan on February 22, 2012
It’s back! Some of the very people and institutions who made big bucks betting against mortgage bonds before the housing crisis are now snatching up the most toxic of these mortgage bonds – and hoping to make treasures out of trash.
Bloomberg News notes that … Read More »
Richard Cordray is Fast Becoming The Most Hated Man In Banking
by Adam Jameson on February 22, 2012
Richard Cordray, the newly installed head of the Consumer Financial Productions Bureau (CFPB), launched an inquiry into bank overdraft fees.
The consumer watchdog previously announced (as reported in CompliancEX) investigations into collection companies, credit report entities and payday lenders and is now setting its sites on fees charged by banks when consumers … Read More »
Investors to Hedge Funds, We Need To Talk…
by Staff Writer on February 22, 2012
I think we need to talk about our relationship.
A study conducted by two well-regarded management consulting and operational outsourced services firms, SEI and Greenwich Associates, revealed the following:
“Institutional investors continue to deepen their commitment to hedge funds, but expect much more from managers in terms of articulating their value proposition, risk mitigation methodology, … Read More »
Lloyds Banking shows its claws
by Adam Jameson on February 22, 2012
The Lloyds Banking Group has the unique honor of being the first bank in Britain to clawback bonuses.
Bonus clawbacks are a recent development pushed by financial regulators to tie bonus payouts to long term business profits.
In the wake of the financial crisis there were numerous examples of executives receiving … Read More »
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