Nicholas Schorsch finally got his prize Wednesday when American Realty Capital Properties Inc. said it had acquired rival Cole Real Estate Investments Inc. in a deal valued at $11.2 billion.
As the year comes to a close, it's evident that independent broker-dealers are racking up a bonanza from the sale of alternative investment products, namely nontraded REITs. Question is, have firms learned from past mistakes?
<i>Breakfast with Benjamin:</i> Private equity giant KKR finds expanding beyond the HNW crowd is not so easy and shuts two retail-focused funds. Plus: Gold jumps on Yellen preview, fund manager changes lead to Morningstar updates, Barclays cuts 12,000 jobs, and another day, another Obamacare delay.
<i>Breakfast with Benjamin:</i> Dr. Doom gets even doomier, using derivatives even when they hurt society, more sluggish economic growth, cashing in on video surveillance, and the pros and cons of free airport Wi-Fi.
The fees with Blackstone Group's nontraded fund of hedge funds make 2 and 20 not so bad. Are the returns strong enough to justify the stiff cost structure?
Today's Breakfast with Benjamin features BlackRock's settlement with the N.Y. attorney general. Plus: Stock futures looking up, activist hedge funds rock, a look at 4Q earnings, the myth of cybersecurity, retirement mistakes to avoid and the upside of office relationships.
Fund comes with no sales load but 12(b)-1 fee, performance fee and expense ratio.
The BlackRock Global Long/Short Equity Fund is a computer nerd's dream and, with its ability to zig when the rest of the market zags, a potentially valuable addition to a portfolio.
Real estate investor is joining forces with Chesapeake Energy's former CEO to raise up to $2B.
The $1.7 billion American Realty Capital Healthcare Trust Inc., headed by REIT mogul Nicholas Schorsch, will list its common stock on a national stock exchange in one of the first of what one analyst expects to be up to $20 billion of liquidity events of nontraded REITs over the next two years.
Today: What to expect from Davos ... but remember how Davos big-thinkers whiffed last year. Also: Time to worry about deflation again, hedge funds go for the gold, a Super Bowl market indicator, and Happy MLK Day.
Today's Breakfast with Benjamin includes: Goldman's stock market call, a closer look at Fed policy, lawyers pick apart Volcker rule, retailers and cyber security, combining IRAs, and how not to ignore your client's wife.
Breakfast with Benjamin: Did the Fed make the right move with tapering? We'll know this week. Plus: Hot stocks for cold weather, missing out on the market, consumer sentiment looks bright, office vacancy rates still hurting, and the minimum wage debate.
Today's Breakfast with Benjamin shines a light on the slide in gold and its impact on miners, Volcker rule tweaks, Nasdaq settling its Facebook IPO glitch, the expected drop in oil prices, and quotes to ponder
Gold dropping like a rock. Plus: Taper mania, SAC's Steinberg convicted, big government seen as big bad, investment tips for 2014, and if economists wrote Christmas cards.
<i>Breakfast with Benjamin:</i> Janet Yellen takes the helm (and the heat). Plus, data breach at Barclays, Pimco's guide to reducing volatility, investing when you're really scared, and investing when you're in love.
Today: What hedge funds fleeing the market means. Plus, buck up, investment banker bonus week is here; building your own mutual fund; clean energy stocks; getting the most out of Siri; and more.
Money managers reduced their net-long position by 2.8%.
