Tag Archives: summer-intern
Rivals bet against Morgan Stanley in September
Forbes – Major Wall Street firms placed large bets against Morgan Stanley using credit-default swaps, two days after Lehman Brothers Holdings Inc sought bankruptcy protection, the Wall Street Journal said, citing trading records. The firms included Merrill Lynch & Co, […]
Wealth managers fret as the rich turn away from them after losses
Times of India – Can the wealthy trust their wealth managers any more after losing 30 to 60% of their wealth during the current global financial crisis? The world’s top banks including brands like Morgan Stanley, UBS, Barclays and Standard […]
Former UBS Exec Sentenced in Manhattan
New York (HedgeCo.Net) – A former UBS AG executive has been sentenced to 6-1/2 years in prison after pleading guilty to selling private information about the bank’s stock recommendations. Mitchel Guttenberg, a former manager in UBS’ equity research department, was […]
Goldman may be set to post first quarterly loss
Reuters – Goldman Sachs could post its first ever quarterly loss as a public company in December, as market turmoil weighs on revenue for investment banking businesses and forces asset writedowns. One Wall Street analyst, Glenn Schorr at UBS, predicted […]
Commodities R.I.P. as Leverage Vanishes, Growth Slows
Bloomberg – Commodities markets are heading for the biggest annual decline since 2001 as investors exit leveraged bets and slowing economic growth erodes demand for raw materials. The value of the 19 commodities in the Reuters-Jefferies CRB Index fell $280.6 […]
Geneva private bank tops fund of hedge funds table
Wealth Bulletin – Geneva-based Union Bancaire Privée emerged as the largest fund of hedge funds provider, replacing UBS Global Asset Management at the top, with $56.8bn, according to the InvestHedge Billion Dollar Club. Funds of hedge funds showed the first […]
Former UBS Trader’s Hedge Fund Takes a Hit
New York (HedgeCo.Net) – The SRM Global Master Fund, headed by former UBS AG star trader Jonathan Wood, is down about 85% over the course of its two-year tenure, according to a report by the Wall Street Journal. Launched in […]
Is UBS Calling the End of Universal Banks?
The Money Times – Last year, I read an article in which David Herro outlined his rationale for owning shares of UBS in his Oakmark International fund. He focused on the value of its wealth management unit, which delivers stable […]
UBS Writes Down Another Subprime-Related $6 Billion
New York (HedgeCo.Net) – Writedowns from major banks have reached the $500 billion mark, only one year after the subprime fallout forced mortgage-backed securities to plummet in value. And it’s not over. Some economists estimate that number will ascend upwards […]
