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Real Estate Journal



A commercial real estate journal focused on: 1. The status of the market, 2. The challenges that professionals face in this market, and 3. Industry professional trade "tips and tricks".



Last Build Date: Sat, 21 Oct 2017 16:58:53 PDT

 



2011 Midyear Outlook: Global Financial Institutions

Fri, 29 Jul 2011 08:50:58 PDT

From Standard & Poor's 2011 Midyear Outlook: Global Financial Institutions Face Increasing Regulations Amid An Uneven Recovery Quintanilla, Rodrigo 28 Jul 2011 In early July, CreditWeek editors sat down with some of Standard & Poor's Ratings Services' leading analysts for a roundtable discussion about global financial institutions. Panelists shared their views on the prospects for continued consolidation in the industry, the impact of new regulations, and the potential effects of a rise in interest rates in the U.S., among other key issues. Analysts in the U.S. and Europe generally expect a gradual recovery for the sector to continue, but noted that the cost of complying with new regulations could cut into banks' profits. The outlook in Asia and Latin America is generally stable and more upbeat, with expectations for continued lending and growth in profits, although inflation remains a significant downside risk in emerging markets. Consolidation appears to have largely played out among the largest banks in most regions, although there is some room for more, particularly in some emerging markets in Asia—but tight regulations in these areas remain a big obstacle. Participants in the discussion included Standard & Poor's Managing Directors Scott Bugie, Santiago Carniado, Ritesh Maheshwari, Craig Parmelee, Rodrigo Quintanilla, and Charles Rauch of Financial Institutions Ratings; Managing Director and EMEA Financial Institutions Criteria Officer Michelle Brennan; Senior Directors Devi Aurora and Daniel Koelsch of Financial Institutions Ratings; and Directors Barbara Duberstein and Stuart Plesser of Financial Institutions Ratings. CreditWeek: What is our global outlook for the banking industry, and what do we see coming up in the U.S., Europe, Asia, and Latin America? Rodrigo Quintanilla:  For the U.S., we currently see five key areas of risks and challenges. The first is that the fragile economic recovery is creating headwinds for balance-sheet growth. In fact, Fed reports indicate that bank balance sheets are not growing, and the only new loan growth we're seeing is in the commercial and industrial segments. The second area we're watching closely is real estate, both residential and commercial. For residential real estate, which is a major component of banks' balance sheets, prices are still coming down, and there is a backlog of inventory in foreclosures. With commercial real estate, or CRE, although losses have been very low, cap rates have also been very low because of continued very low interest rates. We're concerned that if rates were to rise, there could be a rise in delinquencies and losses, especially for some construction projects. The third theme is that credit leverage has been responsible for a big turnaround in profitability for the banks. What this means is that loan-loss provisions have lagged net charge-offs; another way of saying this is that there have been loan-loss reserve releases. This has propelled pretax, preprofit returns on revenues for the Federal Deposit Insurance Corp. (FDIC) group of institutions to about 26% in the latest quarter, up from 20% at the end of fourth-quarter 2010. This brings us to the fourth theme, which is the prospect for lower profitability. Top-line growth for U.S. banks remains slow and tepid: Earning assets are not growing very quickly, and institutions are redeploying any growth from deposits into security portfolios at lower rates. In addition, the potential for higher compliance costs related to the Dodd-Frank Act and other regulatory changes may also hurt banks' revenue-generating activities and profitability. The fifth area we're watching is the impact of increased regulation and related surveillance on banks, including the burden-sharing that the Dodd-Frank act is imposing on bank debt. Various discussions are under way about capital and liquidity requirements under Basel III, capital buffers for large [...]



New York Times Sells Half Its Stake in Boston Red Sox

Sat, 02 Jul 2011 09:13:32 PDT

CNBC.com Article: New York Times Sells Half Its Stake in Boston Red Sox

New York TImes sold more than half its 17 percent stake in the company that owns the Boston Red Sox, according to a filing with the Securities and Exchange Commission Friday.

Full Story:
http://www.cnbc.com/id/43612658

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20 Percent Mortgage Down Payment Under Fire

Thu, 02 Jun 2011 18:23:28 PDT

Adversity makes strange bedfellows, and today's mortgage market is nothing short of adverse.

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http://www.cnbc.com/id/43257844

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The Class That Built Apps, and Fortunes

Sun, 08 May 2011 14:31:24 PDT

Students who took the first "Facebook Class" at Stanford University turned their homework into a fortune, almost overnight. "It had this feeling of a gold rush," said one investor who saw potential in the class projects.

Full Story:
http://www.cnbc.com/id/42948537

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National Home Prices Double Dip

Thu, 05 May 2011 08:21:40 PDT

CNBC.com Article: National Home Prices Double Dip

Home prices have double dipped nationwide, now lower than their March 2009 trough, according to a new report from Clear Capital.

Full Story:
http://www.cnbc.com/id/42904204

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Baseball Set for Data Deluge as Player Monitoring Goes Hi-Tech

Sun, 03 Apr 2011 21:26:19 PDT

Baseball Set for Data Deluge as Player Monitoring Goes Hi-Tech April 1 (Bloomberg) -- On a Saturday morning in March, some 400 people crowd a conference room at the Boston Convention Center. Mostly men, and mostly paying customers, they are there to listen to six other guys talk about baseball statistics. It's day two of the Massachusetts Institute of Technology Sloan Sports Analytics Conference, an annual gathering dubbed "Dorkapalooza" by ESPN's Bill Simmons. The buzz from the panel is about something called Fieldf/x, Bloomberg Businessweek reports in its April 4 issue. "Do you feel like Fieldf/x will essentially make all other fielding stats irrelevant?" asked the moderator, the writer Rob Neyer. "Yes," said Tom Tippett. Tippett is the director of baseball information services for the Boston Red Sox, which means he's in charge of gathering and crunching numbers to help put together a winning team. "I kind of feel like I have to throw away everything I've done for the last 20 years and start over," he said. But in a good way. Fieldf/x will create a digital catalog of virtually every movement at every Major League Baseball game in every park. Already in place in San Francisco's AT&T Park, it is coming to four more venues this year. If all goes according to plan, it will be in every major league park by 2012. Fieldf/x is a motion-capture system created by Chicago- based Sportvision. It uses four cameras perched high above the field to track players and the ball and log their movements, gathering more than 2.5 million records per game. That means you could find out whether Ichiro Suzuki truly gets the best jump on fly balls hit into the right-field gap, or if Derek Jeter really deserved that Gold Glove last year. Changes in Pay, Recruitment The deluge of numbers will send analysts scrambling to answer just such questions. What they find will change the way teams choose and pay their players, and the way fans watch and talk about the game. Motion capture, or optical tracking, promises to rid sports of the biases of the human eye and quantify the formerly unquantifiable art of being in the right place at the right time. In the National Basketball Association, teams have begun using it to sort out the conditions that make for a high- percentage shot. In European soccer, clubs are mapping the endless streams of passes and moves to determine which lead to goals. In baseball, it promises to solve the age-old statistical riddle of defense, a feat that could make and break players and ball clubs. Glowing Puck Curiously, Fieldf/x has roots in one of the most unpopular additions to sports of all time, the much-reviled glowing puck, which annoyed hockey fans for two years between 1996 and 1998. In 1998, three Fox Sports executives who had helped to create the effect left to form their own company. Under its original chief executive officer, Bill Squadron (now the head of Bloomberg LP's Bloomberg Sports, which markets sports statistical analysis to professional teams and fantasy sports players), Sportvision went on to build the technology that gave fans the yellow line that marks first downs on football broadcasts and the data boxes that shadow cars during Nascar races. In 2001, the company worked with ESPN to create "K-Zone," which showed Sunday night baseball viewers the location of pitches as they crossed home plate. Creating K-Zone required a batch of data that became usef[...]



Why Marc Faber Is Such a Bear

Fri, 01 Apr 2011 08:04:35 PDT

Why Marc Faber Is Such a Bear

The thing about predictions is that if you make enough of them, eventually they'll start to come true. Being a good enough prognosticator to hold the investor community's attention most of the time is an entirely different matter.

Full Story:
http://www.cnbc.com/id/42370944

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US Standard of Living in Peril From Dollar's Weakness: Zell

Thu, 03 Mar 2011 08:12:46 PST

CNBC.com Article: US Standard of Living in Peril From Dollar's Weakness: Zell

The US standard of living could drop 25 percent if the dollar loses its standing as the world's reserve currency, investor Sam Zell told CNBC.

Full Story:
http://www.cnbc.com/id/41887217

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Super-Efficient Cells Key to Low-Cost Solar Power

Thu, 17 Feb 2011 13:53:04 PST

http://www.scimag.com/news-super-efficient-cells-key-to-low-cost-solar-power-021511.aspx

Record-breaking multi-junction solar cells combined with cheap lenses
and Amonix's two-axis sun tracker cut the price of solar electricity.

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Lawmakers Resist Bankruptcy for US States

Tue, 15 Feb 2011 08:08:33 PST

US lawmakers have expressed opposition to the idea of allowing US states to seek bankruptcy protection to alleviate pension underfunding and other debt burdens. The FT reports.

Full Story:
http://www.cnbc.com/id/41595577

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America: Paydown problems

Thu, 13 Jan 2011 22:43:38 PST

America: Paydown problemsBy James Politi It was the most startling of warnings. If the US does not get its finances in order "we will have a European situation on our hands, and possibly worse", claimed Paul Ryan, the new Republican chairman of the House of Representatives budget committee. The consequences of not tackling the country's mounting debt burden would be dire, he last week told an audience of leading budget experts and economists at a gathering in Washington. "We will have the riots in the streets, we will have the defaults, we will have all of those ugliness problems," he said, referring to "French kids lobbing Molotov cocktails at cars, burning down schools because the retirement age will be moved from 60 to 62". As it stands today, the US borrows about 40 cents of every dollar it spends. Curbing the budget deficit has been the stated mission of Mr Ryan, a rising Republican star, for several years. But such calls for action have multiplied in Washington in recent months, igniting what some say is the fiercest debate over fiscal and budgetary policy in decades. The risks are big. If the government rushes into austerity, cutting too much and too quickly, it could stunt economic recovery. But if the political system cannot forge some kind of consensus on steps to restore US deficits to sustainable levels, the danger is potentially even greater: a sovereign debt crisis in the world's largest economy. "It's a weak period for the economy, so I don't think you want to do serious deficit reduction anyway, but we are playing a dangerous game and we will start to pay a price for fiscal irresponsibility," says Ethan Harris at Bank of America Merrill Lynch. The big fear is that if no action is taken, investors might eventually punish the US for its fiscal laxity. That would raise borrowing costs for businesses and consumers, force severe austerity measures and risk social unrest. Not only America's triple-A credit rating could be threatened; some point to consequences in foreign affairs and defence as well. Mike Mullen, chairman of the joint chiefs of staff, last year warned that the debt pile could limit the flexibility of the US in funding its military – in his eyes the "most significant threat to our national security". So far, capital markets have not reacted much to the dismal long-term outlook. The 10-year Treasury yield, for instance, has been trading this week well below 3.4 per cent, close to historical lows although it has risen in recent months. Still, a growing number of voices are calling for a deal to address America's strained public finances, even if it means tackling programmes such as retirement benefits and healthcare for the elderly that have long been protected. Yet whether this anti-deficit rhetoric translates into a meaningful turn towards austerity in the coming months – and leading into the 2012 presidential election – is much in doubt, for two main reasons: severe political divisions and the continuing fragility of the economic recovery. "It's not urgent but at some point it's going to become more urgent," says Phillip Swagel, who was a senior economic official in the George W. Bush administration. "Clearly the markets don't think we're Argentina, but we should send them a signal that they are right, that we will address the issue." A deal extending Bush-era tax cuts and unemployment benefits in December failed to send that message, adding $858bn to long-term deficits without any commitment to reductions in the future, even though supporters argue that if the measures boost growth, America's budgetary position will improve too. But more big tests of America's commitment to fiscal discipline[...]



Commercial Real Estate Rallies

Wed, 12 Jan 2011 18:23:02 PST

Commercial Real Estate Rallies

Forgive me for being ever so slightly optimistic two days in a row, but we're getting some improving numbers on the commercial real estate market, and it's worth noting.

Full Story:
http://www.cnbc.com/id/41044236

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In a Sign of Foreclosure Flaws, Suits Claim Break-Ins by Banks

Wed, 22 Dec 2010 12:50:52 PST

CNBC.com Article: In a Sign of Foreclosure Flaws, Suits Claim Break-Ins by Banks

Critics said a tide of lawsuits accusing banks of wrongfully breaking into homes reinforced their claim that the foreclosure process is fundamentally flawed, the New York Times reports.

Full Story:
http://www.cnbc.com/id/40778407

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With Rulings, Business Finds Friends on Supreme Court

Sun, 19 Dec 2010 09:21:48 PST

CNBC.com Article: With Rulings, Business Finds Friends on Supreme Court

The Roberts court ruled for business interests 61 percent of the time, compared with 46 percent in the last five years of the court led by Chief Justice William H. Rehnquist.  The New York Times reports.

Full Story:
http://www.cnbc.com/id/40738950

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CNBC.com Article: Filing for Bankruptcy in Retirement—A Good Thing?

Thu, 09 Dec 2010 17:47:46 PST

CNBC.com Article: Filing for Bankruptcy in Retirement—A Good Thing?

There's a stigma attached to filing for bankruptcy protection, especially among the older generation. But for some people facing a huge mound of debt in retirement, it's actually a good choice — and not as painful as you'd think.

Full Story:
http://www.cnbc.com/id/40589911

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Fwd: [CCIM GEN/TECH] BAO iPhone app

Sun, 05 Dec 2010 14:53:33 PST


CCIM MailBridge General Message


FYI..

Attached is the excerpt the Nov/Dec 2010 CIRE magazine article for the ESRI BAO iPhone app.. and the reference about the forthcoming STDBonline iPhone/iPad app.. I also attached several screenshots from the BAO app with a 1-mile radius around a location in Sacramento and the Comparation Report (Note: yes, the unemployment within this 1-mile ring is 15% vs. 11% National average - try it in downtown Stockton and the unemployment rate is 30%).. good, quick info..

Can't wait for the STDBonline app with the full demographic info (and traffic counts)..

Sean Broderick, CCIM
Pacific Pride Properties
Broker Associate
Lodi, CA 95240

(209) 642-4133 (business)
(866) 579-0796 (fax)
sbroderick98@comcast.net
CCIM Profile



CCIM Logo and MailBridge Application ©2008-2009 CCIM Institute. All Rights Reserved.
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CNBC.com Article: Mounting State Debts Stoke Fears of a Looming Crisis

Sun, 05 Dec 2010 14:35:41 PST

CNBC.com Article: Mounting State Debts Stoke Fears of a Looming Crisis

The finances of some state and local governments are so distressed that some analysts say they are reminded of the run-up to the subprime mortgage meltdown or of the debt crisis hitting nations in Europe. The New York Times reports.

Full Story:
http://www.cnbc.com/id/40517158

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(BN) Dairy Farmers Miss Boom as Feed-Cost Surge Compounds Milk Glut

Mon, 29 Nov 2010 13:23:37 PST

Bloomberg News, sent from my iPhone.U.S. Dairy Farms Miss Agriculture Boom on Feed Costs Nov. 29 (Bloomberg) -- This year's agriculture boom is a bust for U.S. dairy farmers as surging costs for cattle feed compound a glut of milk products. While the 27 percent jump in wheat prices and 48 percent gain in cotton may send farm income to a record, dairies will lose money in 2011 for the second time in three years, said Mike Brown, an economist at Glanbia Foods Inc., which processes milk in Idaho and New Mexico. Corn, a feed ingredient, jumped 33 percent in the two months ended Oct. 31, almost three times the gain in wholesale-milk prices. Futures slumped 11 percent. Dairy farmers expanded herds following the 70 percent jump in prices to a record in 2007, just before the U.S. began its longest recession since before World War II and unemployment rose to the highest level in a quarter century. Weaker demand was compounded by this year's drought, floods or freezing weather from Canada to Kazakhstan that ruined crops and boosted competition for U.S. grain that dairies require. "The crop farmers around here have been driving around with new equipment all the time," said Linnea Kooistra, who owns a 250-cow herd in Woodstock, Illinois, with her husband, Joel. "They've been making so much money the last couple of years because of high commodity prices, but for livestock farmers, it's really been a hard time." 'Rough Times' Farmers lost $2.50 to $4 on average for every 100 pounds (45.4 kilograms) of milk last year, and the deficit may be $1 to $3 in the first half of 2011, Brown of Glanbia Foods said. The company's three plants in Idaho and a joint venture in New Mexico process a combined 22 million pounds a day and make cheese and whey. "We don't think some dairymen will be able to survive," Brown said from his office in Evanston, Illinois. "They're looking at some rough times." Corn futures have risen 48 percent since the end of June, the biggest gain in the Thomson Reuters/Jefferies CRB Index of 19 raw materials after sugar. The U.S. Department of Agriculture cut its estimate for the crop on Nov. 9 for a third straight month because of flooding in Iowa and Missouri and hot, dry weather from Illinois to Ohio. Futures jumped to $6.175 a bushel on the Chicago Board of Trade that day, the highest since August 2008. Soybeans and wheat are up more than 37 percent since the end of June and cotton reached a record on Nov. 10. Farm Income Crop rallies may send farm income higher than the record $87.4 billion reached in 2004, according to Neil Harl, an agricultural economist at Iowa State University and a former adviser to the governments of Ukraine and the Czech Republic. On Nov. 24, Deere & Co., the largest maker of agriculture equipment, forecast that U.S. net farm cash income will jump 31 percent this year to the highest ever, before gaining an additional 15 percent in 2011. While higher farm incomes improve prospects for Deere tractors and Mosaic Co. fertilizers, Dean Foods Co., the biggest U.S. milk processor, said on Nov. 9 that consumers are swapping name-brands for cheaper products. "Our industry is going through a wrenching ordeal," Dean Foods Chief Executive Officer Gregg Engles said on a c[...]






CNBC.com Article: Low Rates Hurt Bonds for Housing

Tue, 09 Nov 2010 07:11:32 PST

CNBC.com Article: Low Rates Hurt Bonds for Housing

Housing projects used the interest they earned on spare cash to help them pay off their bonds, but those earnings have now shrunk, the New York Times reports.

Full Story:
http://www.cnbc.com/id/40086582

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CA Gov. vetoes Anti-Deficiency Bill

Mon, 04 Oct 2010 11:31:27 PDT

Update! Governor Vetoes C.A.R.-SponsoredAnti-Deficiency BillOn Thursday, Governor Schwarzenegger vetoed SB 1178 (Corbett), C.A.R.'s sponsored bill that would have expanded anti-deficiency protections. In his veto message, the Governor made clearhis view that the bill interferes with an existing contract. While disappointed in the Governor's misinterpretation of the bill, C.A.R. is grateful to the almost 13,000 California REALTORS(R) who urged him to sign the bill by responding to the Red Alert.C.A.R. sponsored SB 1178 to better protect homeowners going through foreclosure. SB 1178 would have ensured that homeowners keep the same "anti-deficiency" protections they have in the original loan after the loan has been refinanced.California's anti-deficiency protection for "purchase money" mortgages says that if a homeowner defaults on a mortgage used to purchase his or her home, the homeowner's liability on the mortgage is limited to the property itself. The law has worked well since the 1930s to protect borrowers, ensure the quality of loan underwriting and allow borrowers brought down by financial crisis to get back on their feet.Unfortunately, the 1930s law hasn't kept up with current times. Current law doesn't apply to loans used to refinance the original purchase debt, even if the refinance was only to gain a lower interest rate. Recent years of low interest rates have induced tens of thousands of homeowners to refinance their mortgages. During those years, almost no one realized that refinancing their mortgage to obtain a lower rate, they were forfeiting their protections and were becoming personally liable on the new note.SB 1178 would have corrected this injustice by extending anti-deficiency protections to those who have refinanced their loans.Thank you again to everyone who joined C.A.R.'s Government Affairs Team and fought for our clients. [...]



CNBC.com Article: GMAC’s Errors Leave Foreclosures in Question

Sat, 25 Sep 2010 13:28:16 PDT

CNBC.com Article: GMAC's Errors Leave Foreclosures in Question

The recent admission by a major mortgage lender that it had filed dubious foreclosure documents is likely to fuel a furor against hasty foreclosures, the New York Times reports.

Full Story:
http://www.cnbc.com/id/39355517

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(BN) Ivy League Football `Mafia' Gives Wall Street a Talent Pipeline

Wed, 22 Sep 2010 10:29:56 PDT

Bloomberg News, sent from my iPhone.Ivy League Football 'Mafia' Gives Wall St. Pipeline Sept. 22 (Bloomberg) -- University of Pennsylvania defensive back Josh Powers may have a better opportunity than playing for college football's national championship: a six- figure Wall Street salary upon graduation. Powers, a senior at the Philadelphia-based school, was able to use contacts on Penn's athletic board to land internships at two financial firms. "I have a job opportunity that the top, top percentile of applicants would give their right arm to have," Powers said in an interview. "I've been blessed with a fantastic opportunity." Penn's athletic board of overseers includes George Weiss, founder of the George Weiss Associates Inc. hedge fund in Hartford, Connecticut; Robert Wolf, chairman and chief executive officer of UBS Group Americas in Stamford, Connecticut; and Mark Werner, the former JP Morgan Securities Inc. vice chairman who is co-founder and CEO of Pierpont Securities LLC, also in Stamford. Having that kind of board helps the Quakers land better players, coach Al Bagnoli, who led the team to the Ivy League championship last season, said in a telephone interview from the school's campus. "We call them our alumni mafia," Bagnoli said. "Everyone looks out for one another. It's a very close group." The school, founded by Ben Franklin, has an undergraduate enrollment of 10,300 full-time students. Summer Internships Ivy League athletes often receive internships from executives involved with their school sports programs, while others use alumni for references or to gain insights into a company's needs. Powers is one of dozens of student-athletes who landed summer internships with financial firms. New York's Columbia University formally recognized the importance of tapping into networks in 2006 by appointing Kimberly Curry, 36, as the first full-time director of career development for athletics in the Ivy League. Curry holds so-called etiquette dinners where student- athletes are taught how to make small talk in a formal dinner setting. She schedules mock interviews, sets up talks by local business leaders and arranges for athletics alumni to help students by reviewing resumes, providing advice and making introductions. Few Sporting Chances Most college athletes aren't going to make a living with their sports, especially those from the Ivy League, which doesn't award athletic scholarships. For example, about 65,000 student-athletes played college football last season, while National Football League teams had 334 rookie, or first-year players, on their 2010-2011 season-opening rosters, according to the league. None were from the Ivy League, which comprises eight of the top-ranked schools in the U.S. There were five Ivy players on NFL rosters when the season started: center Matt Birk (Harvard, Baltimore Ravens), defensive tackle Desmond Bryant (Harvard, Oakland Raiders), quarterback Ryan Fitzpatrick (Harvard, Buffalo Bills), linebacker Zak DeOssie (Brown University, New York Giants) and guard Kevin Boothe (Cornell University, New York Giants), who is on the [...]



CNBC.com Article: Man Vs. Machine: Seven Major Players in High-Frequency Trading

Tue, 14 Sep 2010 17:16:22 PDT

CNBC.com Article: Man Vs. Machine: Seven Major Players in High-Frequency Trading

These speed-obsessed hotshots  aren't household names like other big investors; in fact, until recently, they've shunned the limelight.

Full Story:
http://www.cnbc.com/id/39038892

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CNBC.com Article: EXCLUSIVE: Outlook Gloomy at Secret Billionaire Meeting

Sat, 11 Sep 2010 16:24:26 PDT

CNBC.com Article: EXCLUSIVE: Outlook Gloomy at Secret Billionaire Meeting

For 25 years, the world's richest people have gathered secretly to discuss investing. After their latest meeting, we've learned what they said and where they're putting their money!

Full Story:
http://www.cnbc.com/id/39097299

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