Tuesday, 31 March 2015
Last updated 25 min ago
May 18 2010 | 11:37am ET
Paulson & Co. boosted its bet on Bank of America in the first quarter, as well as adding a pair of bets on betting.
The New York-based hedge fund increased its stake in BofA by more than 10% in the first three months of the year, adding 16.8 million shares to bring its kitty to 167.8 million, worth $2.99 billion. The BofA stake is Paulson’s second biggest position; all told, the firm’s financial bets grew by 6.5% on the quarter.
Paulson did sell off its Fifth Third Bankcorp stake in the first quarter. But he held onto his big stakes in Citigroup, JPMorgan Chase and Wells Fargo.
Paulson also took a pair of stakes in casino companies, buying 40 million shares of MGM Mirage and 4 million shares of Boyd Gaming. Paulson is now the second-largest shareholder of MGM, and the fourth-largest of Boyd.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…