Investment Firm Head Sentenced to More Than 7 Years in Prison for Pre-IPO Fraud
Fred Elm falsely told investors they could invest in Twitter, Alibaba, and Uber prior to their IPOs.
News
Op-Ed: We Are Still Living in the Jackie Robinson Age of Financial Services
Only a small, select group of Black professionals gets to advance to the C-suites of firms. White men get a lot more leeway. Nickol Hackett, CIO of the Joyce Foundation, lays out how this can be rectified.
Maybe, Just Maybe, Oil Stocks Aren’t Headed for the Scrap Heap Soon
The need for oil and gas will be around for a while, and their suffering stocks are far from lost causes, Wells Fargo argues.
JPMorgan Chase to Pay Nearly $1 Billion to Settle Trade Manipulation Charges
Bank avoids criminal charges by agreeing to record $920.2 million CFTC fine and a $35 million SEC fine.
4 Industry Moves at Brown Brothers Harriman, Kresge Foundation, Wespath
Here are some of the biggest people switches in the industry from the past month.
October Surprise: Market Reaction to Trump Illness Is Muted
Perhaps the small losses show investors think not much will change in the presidential race.
Texas Employees CIO Tom Tull to Retire
He built out alternatives at the $29 billion retirement system soon after joining.
IRS, Treasury Soften Blow of Endowment Tax
NACUBO welcomes rule changes but still opposes tax, which it says diminishes resources for students.
FAANGs Risk Ending Up Like the Nifty Fifty, Cooperman Worries
Celebrated investor draws parallels to the must-have momentum stocks of the 1960s.
CPPIB Commits $300 Million to Join IT Firm Buyout Deal
The Canadian pension fund would hold a 24% stake in tech consultant Virtusa after the transaction closes.
Yale Endowment Returns 6.8%, Duke’s Shrinks by $100 Million
The Ivy school again produces strong returns, as the North Carolina university’s long-term pool gains only 0.7%.
Mubadala Puts $2 Billion into Silver Lake for 25-Year Strategy
The fund has also taken a minority equity stake of less than 10% in the firm.
CalPERS Taps Yup Kim as Private Equity Investment Director
He joins the $407.5 billion pension giant from Alaska’s sovereign wealth fund.
Harvard’s Endowment Returns 7.3% for the 2020 Fiscal Year
The university cautioned the strong returns may not be enough to blunt the financial impact of the pandemic.
Florida Pension Sues Intel Over 7-Nanometer Chip Delay
Lawsuit alleges the chipmaker intentionally misled investors about development progress of new product.