Sunday, 26 April 2015
Last updated 1 day ago
Jan 23 2014 | 1:43pm ET
Paul Singer feels about derivatives the way most people feel about junk food: He knows they aren't good for anyone, but he still loves them.
"I love trading them," the Elliott Management founder said at the World Economic Forum in Davos, Switzerland. But, he added, "on balance, there's been a net negative to society from this particular type of invention."
The hedge fund manager said that derivatives increase leverage and complexity of balance sheets, dangers which outweigh their hedging benefits. Singer said that the banking industry remains a major threat to global stability.
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…