- Pellegrini 80% Return Proves Paulson Protege No Fluke at Macro Hedge Fund Paolo Pellegrini has a nose for trouble. He saw it in rising housing prices in early 2006, when he cranked through decades of home price data and concluded the bubble was poised to burst. Pellegrini then helped engineer a massive bet against subprime mortgages that catapulted Paulson & Co. hedge funds to 2007 gains of as much as 590 percent -- and firmwide profits of more than $3.5 billion.
- Vets Loving Socialized Medicine Show Government Health Care Offers Savings Rick Tanner is one American who loves his government-run health care.
- Stiglitz Deflation Threat Pushes Bernanke to Keep Rates at Zero Next Year The U.S. faces the possibility of deflation for the first time since the Eisenhower administration, a threat that may prompt the Federal Reserve to keep interest rates near zero through next year.
- CMA CGM Said to Seek Investment From Investors Including French State Fun CMA CGM SA, the third-biggest container-shipping operator, is courting equity investors, including France’s FSI sovereign-wealth fund, as it seeks to reduce $5.6 billion of debt, according to three people briefed on the company’s plan.
- Mortgage REIT Reception Shows Skepticism for Business Model of Buying Debt Real estate investors trying to leverage initial public offerings to buy distressed commercial property debt are using a flawed strategy, said James Corl, a managing director at New York-based Siguler Guff & Co.
- Pain in Spain May Linger as Banks Prop Up Property Prices to Avoid Losses Maria Jose Lozano, a civil servant from Madrid, left a recent property fair empty-handed after discovering that home prices were still out of reach in a market where sales have dropped 50 percent from their 2006 peak.
- Unemployment in U.S. Now Lasts Longer Than State Benefits: Chart of Day For the first time, the average amount of time it takes fired employees to find a new job exceeds the length of their standard unemployment benefits.
- Texas Instruments CEO Templeton Says Analog Chips Unit Can Grow 20% a Year Texas Instruments Inc. is sticking to a prediction that demand for chips used in products such as electric saws and disposable hearing aids can more than make up for revenue lost from mobile phones.
Bloomberg News 5th October 2009
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