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Current feed - Reuters: Wealth

Prominent investors stock up on eBay, then activists flex muscle
EBay Inc.'s stock price slumped for most of last year but a number of prominent hedge funds were so convinced that change is on the horizon for the e-commerce company that they established new or...

Jeff Vinik offers fee cuts to help bring in cash for new fund
Prominent U.S. investor Jeffrey Vinik is promising potential clients a cut in fees and said that it had been tougher to raise money than he initially thought, as he prepares to relaunch Vinik Asset...

Big hedge funds dumped China stocks, Apple as market tumbled
Prominent hedge fund managers sold out of Chinese technology stocks and dumped Silicon Valley majors such as Apple Inc and Facebook Inc while global stock markets cratered during the fourth quarter,...

Berkshire trims Apple stake, adds Suncor and Red Hat, exits Oracle
Warren Buffett's Berkshire Hathaway Inc said it has trimmed its stake in iPhone maker Apple Inc, though none of the selling was Buffett's, and added positions in Canada's Suncor Energy Inc and...

U.S. fund investors charge into money market funds: Lipper
U.S. fund investors added another $18.7 billion to money market funds during the latest week, likely putting the low-risk funds on track for a third straight quarter of positive demand, Lipper data...

Charlie Munger targets active managers, Elon Musk; praises China
Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Thursday criticized active fund managers, bankers and even Elon Musk as he urged investors to court...

U.S. tax refunds down nearly 9 percent vs year ago: IRS data
The average U.S. tax refund under President Donald Trump's tax overhaul is down nearly 9 percent so far in this year's tax filing season, according to Internal Revenue Service data released on...

'Robo-adviser' Wealthfront launches cash account
Wealthfront, one of the largest digital wealth management firms known as "robo-advisers", said on Thursday it is expanding its suite of financial products by introducing a cash account with a rate on...

New York fund manager pleads guilty to Belize airport scam
A New York investment manager pleaded guilty on Wednesday to running a $21.9 million fraud in which he falsely told dozens of investors their money was being used to build an international airport in...

Slower growth no reason to quit China: Epoch's Van Valen
Slower overall growth is the new normal for China, but the globe’s second largest economy still holds much promise for choosy foreign investors, according to U.S. portfolio manager Kera Van Valen,...

 

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