| FBI Opens Investigation into Economist Accused of Fraud
(Charleston) -- The FBI says it has opened its own investigation in a Charleston Southern University professor facing fraud charges.
Special Agent Steve Grimaldi says the probe will parallel the civil investigation into Al Parish already filed by the Securities Exchange commission.
Court documents show Parish, an economics professor known for his flamboyant suits and million-dollar pen collection, claimed amnesia after federal investigators discovered about $134 million missing from several investment funds he managed.
The SEC says Parish provided false statements to his 300 investors indicating the five funds were trading profitably when they were not.
The pools allowed investors to put money in commodities and securities futures products, bonds, stocks and hard assets like expensive watches, jewelry and fine art.
MassMutual Web Site Earns Coveted 'Excellent' Ranking by DALBAR
SPRINGFIELD, Mass., April 10 /PRNewswire/ -- Massachusetts Mutual Life Insurance Company (MassMutual) has been awarded an "Excellent" rating for its consumer Web site by DALBAR, Inc., a leading financial services market research and consulting firm. MassMutual was one of an elite group of financial services companies whose Web site, http://www.massmutual.com/, was designated "Excellent" by DALBAR - its highest designation - in DALBAR's Life Insurance and Annuity WebMonitor Quarterly Trending and Rankings Report, issued in February 2007. The ranking reflects MassMutual's position as an industry leader in offering a valuable, user-friendly Web site for consumers, with easy access to product information, educational materials, customer service and experienced financial professionals.
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Nasdaq listings reach seven-year high
Nasdaq, the second largest US stock exchange, recorded its highest number of initial public offering listings in the first three months of this year since the height of the dotcom boom in the first quarter of 2000. The news comes at an increasingly competitive time for US exchanges. .
China’s nascent derivatives market
The news was not entirely unexpected, but for foreign investors and financial institutions interested in accessing China's nascent derivatives markets to create structured products, it was not good news. But while it's a tough break for offshore investors, on the mainland the opportunities to get exposure to structured products that are linked to international underlying instruments are growing quickly. Logically, the qualified domestic institutional investor (QDII) scheme — under which an approved set of banks and asset managers can buy foreign assets on behalf of investors — would seem to be the most obvious way to do this, but demand for QDII products has not been good. After all, the domestic stock market was (until the end of February at least) booming, and the QDIIs have to hedge against the appreciating renminbi when buying assets in other currencies.
Online trading portal launched for NRIs - Bahrain
(MENAFN - Bahrain Tribune) Indogulf Financial Services yesterday launched an online trading portal of UTI Securities Ltd, www.usectrade.com targeting the non resident Indians in the Kingdom bringing the NRI investors a real time opportunity to invest in quoted companies stocks by using this cutting edge technology portal.
The Chairman of Indogulf Financial Services Mohammed Al Tajer who highlighted the salient features of this innovative service for the NRIs living in the Kingdom. Present were Vice Chairman Baboo Kewalram and experts from UTI Securities who made a presentation to give a brief look into Indian economy.
Ajit Gandhi, senior manager, UTI Securities' internet trading told Bahrain Tribune that about 4000 NRIs investors in Bahrain would get immediate benefit of this state-of-the-art portal.
Michael B. Trainor: Research funds for UM pay off
Recently, when the University of Maine's Advanced Engineered Wood Composites Center delivered its protective composite shields to the U.S. Army in Afghanistan, it represented increased safety for military men and women in harm's way, and it demonstrated the creativity and tenacity of UMaine's research and development team. In the Maine tradition, the shields were delivered in half the estimated time, at half the cost. Specifically, the two-year schedule and $1 million budget were cut by half in the project's first stage. "Innovation" and "economy" are two excellent words to describe this achievement, an excellent example of the unlimited potential of Maine's people. This engineering accomplishment and efficient use of resources could not have been achieved without state, federal and other support for the university's research and development work.
Global Investor’s Bulletin: Warren Buffet and you…
Many investors feel that if the could invest the Warren Buffet way, they would soon be rich! Well, here is the way to access his holdings—www.sec.gov—for free. The information, when received could be as old as 45 days, but that is not a long period of time in the stock market. Gurufocus (www.gurufocus.com) will explain what other sharpies are doing, including Brandes Investment Partners of San Diego. And www.validea.com tracks managers’ approaches. I am not suggesting for one moment that your own way of picking stocks for your portfolio is not working, but additional assistance never hurts anyone. And by the way, there was lots of action in world markets today. --The takeover of A.B.N. by Barclays may have some competition by a consortium with Spanish and other British ties. --Rumours abound that K.K.R may put a bid for Dow Chemical together- denied by the Company, but what else do you expect them to say? --Linear Gold suffered profit taking, off about .25 cents, and Bank of Nova Scotia was the top Bank tip by David Baskin on his hour with B.N.N.
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