- Tepper Turns Panic Into Profits With $6.5 Billion Gain Leading Hedge Funds David Tepper often throws a $20 bill on the floor when he’s weighing a big investment with analysts at Appaloosa Management LP.
- Silicon Valley's Worst Office Glut in 5 Years Means Real-Estate Bloodbath Silicon Valley is beset by the biggest office property glut since the dot-com bust, leaving the U.S. technology hub with empty high-rises and office parks that make it impossible for landlords to sustain average rents.
- Credit Suisse Courts Indonesia's Rich as Yudhoyono Economy Trumps Karaoke Sandiaga Uno, the second-youngest man on Forbes’s Indonesia rich list, says private bankers inundate him with investment pitches and have offered everything from wine-tasting and concerts to karaoke evenings and gambling trips to Macau to solicit his business.
- Palm's Pre, Pixi Are Said to Be Debuting on Verizon's Network This Month Palm Inc.’s Pre and Pixi will be offered this month by Verizon Wireless, the second U.S. wireless carrier to sell the devices, according to a person familiar with the matter.
- Brevan Howard Founding Partner Blochet Will Join Moore Capital as Manager Moore Capital Management LP, the $14 billion hedge-fund firm run by Louis Moore Bacon, hired Jean- Philippe Blochet, a founding partner of Brevan Howard Asset Management LLP, as a senior portfolio manager based in London.
- George Jiang Digs In Heels to Produce Asia's Best-Performing Hedge Fund It has been a roller-coaster two years for the Golden China fund, a hedge fund run by Shanghai- based Greenwoods Asset Management Ltd.
- Geithner Finds No Good Deed Unpunished as Banks Seek Profits From Bailouts To understand the meaning of no good deed goes unpunished, Treasury Secretary Timothy F. Geithner can look no further than Wall Street where the banks that received the biggest taxpayer bailouts are seeking to reap trading profits from securities rescued by the government.
- Cornering Rajaratnam Rekindles Dennis Levine in Taking Down Drexel Burnham Days after he was arrested in an insider-trading probe in 1986, investment banker Dennis Levine sequestered himself at his lawyer’s New York office to read the government’s evidence. As he finished, he gazed out a window some 30 floors up, silently urging himself to open it and jump. He didn’t.
- Housing Animal Spirits Set to Be Banished as U.S. Prime Foreclosures Mount Homeowners with the best credit are the next big risk for the U.S. housing market.
- Believing Barclays Means Minimum 8% in Dollar-Yen Trade as Japan Retreats For clues to why the dollar is gaining strength after its worst year since 2007, look no further than Japan.
- Commodities Back to Economic Euphoria as Top Gurus Eschew Financial Assets Raw materials may return more than financial assets for the first time in three years as the global economy rebounds, according to Bloomberg surveys and 2009’s most accurate commodity forecasters.
- Stocks Beat 30-Year Treasuries in Record Win on Economy: Chart of the Day Blackstone Group LP’s Byron Wien, who correctly predicted rallies in equities, gold and oil last year, said U.S. gross domestic product will expand almost twice as fast as economists forecast in 2010 while the Standard & Poor’s 500 Index ends the year unchanged.
- China Regulator Said to Plan to Introduce Index Futures as Early as March China’s securities regulator may introduce futures contracts on the country’s stock indexes as early as March, an official with knowledge of the matter said.
- Japan Return to 1991 GDP Gives Credit Markets Hatoyama's Mega Risk Crisis Japan’s Prime Minister, Yukio Hatoyama, swept to power by a public seeking an end to economic and political stagnation, is failing to arrest the nation’s decline.
- China's Property Bubble May Foreshadow a U.S.-Style Slump in Real Estate Li Nan has real estate fever. A 27- year-old steel trader at China Minmetals, a state-owned commodities company, Li lives with his parents in a cramped 700- square-foot apartment in west Beijing.
Bloomberg Daily News 5th January 2010
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