Legg Mason's structure is misunderstood by the market. Legg Mason has an affiliate model. They own 100% of their affiliates, which are investment managers such as Permal, Western Asset Management, and Royce.
Brokerage firms don't sell customers stock so much as they sell those horrible mutual funds
Any Wall Street advertising that does not go into the boring details of methodology is most likely to be pushing past performance.
When you start to confuse Freddie Mac, Sallie Mae and Fannie Mae with members of your family, and you remember 2,000 stock symbols but forget the children's birthdays, there's a good chance you've become too wrapped up in your work.
We have already significant sums of money in our petroleum fund, a fund created by law that includes all the revenues received from the Timor Sea, and invests in conservative, safe, long-term investment portfolios - right now in US Treasury Bonds.
The quality and quantum of potential investors in Africa is huge.
Entrepreneurs or international conglomerateurs, or large financial institutions buy or create mutual fund management companies to create a return on their own capital. It's capitalism at work, where the rewards tend to go to the managers rather than the investors.
You need to really scrub your investment portfolios, because I guarantee you, many of you are going to find them chock-full of subprime carbon assets.
eBay started with a core focus on the collector. At the time of its S-1, six or seven percent of its total sales were Beanie Babies.
Peer-to-peer lenders originally sought to attract retail investors to its loan marketplace, but the lack of high-returning assets elsewhere in the market has made these platforms increasingly attractive to major asset managers and hedge funds.
