SEC causes quandry
From The Wall Street Journal
The SEC is causing a stir again. In an interpretative letter, the government agency stated that mutual funds that invest in bank loans must value those holdings according to the price if they could be sold that day. If there is no market quote available, portfolio managers must assign a "fair value" for these holdings -- not for what they might eventually sell them for but at an estimated value of what it would be sold for that day. This could cause headaches as because price quotes are not usually available for loans in an illiquid market.
How's your resume?
From The New York Times
It may be a bull market, but some of the highest paying jobs may not be on Wall Street but in Internet start-ups. Investment banks have set aside approximately $13 million in holiday bonuses. But some financiers are wondering if there might not be better opportunities working for new web companies than staying at their current positions. Apparently, the biggest paychecks are going to those who have crossed over that line and are now helping to build fast-growing online concerns.
JAM raises $150M
From CBS MarketWatch
Ryan Jacob's new fund has raised $150 million in its two-week subscription period. The fund began investing on Monday -- those expecting an immediate 497.85 percent return might be a tad disappointed as the market was "thin", according to Jacob, the fund's manager and company president.
Subscribe to MFWire.com's News Alerts [click]
Email & Route 
Print 
Raw XML
