Friday, 24 October 2014
Last updated 14 hours ago
Dec 20 2007 | 12:40pm ET
Contradicting a tabloid report from earlier today, Citadel Investment Group is not actively considering the acquisition of Bank of America’s prime brokerage unit.
A source close to the $15 billion Chicago hedge fund told Reuters that “there have been no conversations about it and Citadel has not looked at the books.” According to a report in today’s New York Post, BofA wants to sell both the prime brokerage and its public financing unit, Citadel was in talks with the bank and had inspected the unit’s books.
A prime brokerage sale would seem to be part of BofA CEO Kenneth Lewis’ plan to scale back the firm’s investment banking operations. The unit has been hit with a string of recent high-profile departures, including that of former head Christopher Pesce.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...