WisdomTree, an ETF issuer specializing in international and fundamentally-weighted funds, announced the closure of ten of its funds, effective March 24th, 2010. The ETFs effected represent just 3% of WisdomTree’s $6 billion in assets under management and include several of the company’s international sector funds. The largest fund closing is WisdomTree International Communications Sector Fund (DGG) which had roughly $27 million in assets at the end of last year. [click to continue…]
On September 4th and 5th the finance ministers and central bank governors of the 19 most powerful countries (along with the finance minister and central bank governor of the European Union) will meet in London to discuss preliminary ideas for preventing another financial crisis and steps for removing the trillions of stimulus dollars from the [...]
Over the past year, the financial sector has been a favorite target of criticisms, frequently accused of outrageous greed that sparked the mortgage meltdown in the U.S., eventually spreading to nearly all corners of the global economy. Moreover, the volatility of financial companies has skyrocketed, perhaps best evidenced by the fact that Direxion’s 3x leveraged Daily [...]
Late Thursday afternoon, the U.S. Treasury Department released the much-awaited results of the government’s “stress tests” on 19 of the nation’s largest banks. Among the big names instructed to raise capital: Bank of America (BAC), Wells Fargo (WFC), and GMAC. In all, the government’s results indicate that 10 of the banks tested need to raise [...]
