A court filing reveals BillGross' handwritten exit note to PIMCO, the credit collapse of 2008 stillresonates in presidential politics and an investigation into whether the moneybehind a movie about a Wall Street swindler was corrupt.
co-founder Bill Gross apparently departed the company inSeptember 2014 without notice and left behind a handwritten letter, The Wall Street Journal reported.Attached with the filing for a related court case is a note from Gross that wasaddressed to "CEO, PIMCO." The company discovered the note afterlearning in a news release the next day that he had taken a job with anothercompany.
Aroundthe time the Civil War ended, across the Atlantic, banks began verifyingsignatures using something called a pantelegraph. The machine is the firstentry in The New York Times' reporton the evolution of financial technology applications. Later in the NineteenthCentury, consumers and business began using credit for the first time withcharge plates and coins. In 1967, Barclays introduced the first ATM.
WarrenBuffett is 85, but BerkshireHathaway Inc. investors need not worry about a succession plan,because he is irreplaceable, Yahoo Finance reported. An investor thinks Buffettwill be running the company five and 10 years from now. He said BerkshireHathaway shares are undervalued even without factoring a premium for Buffett.
Presidentialcampaigns on the left and right can trace their origins to the credit collapseof 2008, Bloomberg News reported. The buying power that Americans lost in 2008has never recovered because credit is still hard to come by. Donald Trump andBernie Sanders both appeal to a blue-collar electorate that feels impoverishedwithout the lifeline.
Globalinvestigators believe corrupt money was used to make "The Wolf of WallStreet" movie, according to a report in The Wall Street Journal. The movie's creators actually had troublecoming up with financial backing for the project until it raised more than $100million from Red Granite Pictures. The investigators think the money wasdiverted from a Malaysian fund intended for local economic development.
Youngerworking Americans are not investing in securities, and most women polled in asurvey believe a typical investor is an old, white man, Financial Advisor magazine reported. The survey results show that79% of millennials are not stock market investors and that most respondentswant to choose their own when they do invest.