Most Read on Bloomberg in September: Gross, Alibaba, S&P 500
The following list comprises the most-read Bloomberg News reports during September.
STORIES
1. Pimco’s Bill Gross to Join Janus Capital to Manage Bond Fund
Sept. 26 (Bloomberg) -- Bill Gross, who co-founded Pacific Investment Management Co. more than four decades ago and rose to become manager of the world’s biggest bond mutual fund, is leaving amid a dispute with management over how to move the firm forward and end record redemptions.
2. Alibaba Surges in Trading Debut After Record-Breaking IPO
Sept. 19 (Bloomberg) -- Alibaba Group Holding Ltd. surged in its U.S. trading debut, after the company raised a record-breaking $21.8 billion in an initial public offering.
3. S&P 500 Tumbles as Apple Sinks While Dollar, Treasuries Advance
Sept. 25 (Bloomberg) -- U.S. stocks fell the most in eight weeks as Apple Inc. tumbled and concern grew over tensions overseas. The dollar extended a four-year high as improving economic data fueled speculation the Federal Reserve is moving closer to raising interest rates.
4. Shrinking Bond Desks Populated by Journeymen as Masters Fade
Sept. 23 (Bloomberg) -- It was the profession that inspired Sherman McCoy in the novel “The Bonfire of the Vanities.” In the 1980s, the excitement in the trading room, with hundreds of people talking on the phone, was palpable, like a sporting event, said Kerry Stein, head of credit trading at Lloyds Securities Inc.
5. Stocks Drop as Small-Caps Tumble With Commodities; Bonds Climb
Sept. 22 (Bloomberg) -- U.S. stocks fell, led by small-cap shares, and commodities tumbled to a five-year low as China’s finance minister damped stimulus hopes and sales of existing homes in the U.S. unexpectedly dropped. Bonds advanced.
6. U.S. Stocks Fall With Emerging Equities; Dollar, Treasuries Gain
Sept. 29 (Bloomberg) -- U.S. stocks fell with emerging-market equities as unrest in Hong Kong added to geopolitical uncertainty and American spending data sparked rate concern. The dollar extended a four-year high and Treasuries advanced.
7. U.S. Stocks, Oil Rise on PBOC Stimulus; Dollar Sinks on Fed Bets
Sept. 16 (Bloomberg) -- U.S. stocks rose and commodities rallied on a report that China’s central bank is boosting stimulus measures. The dollar fell on bets the Federal Reserve won’t be in a hurry to raise rates.
8. Trader Who Scored $100 Million Payday Bets Shale Is Dud: Energy
Sept. 3 (Bloomberg) -- Andrew John Hall -- known as the God of Crude Oil Trading to some of his peers -- has built his success on a simple creed: Everyone who disagrees with him is wrong.
9. Fortress Pays Executives for Expenses to Manage Fortunes
Sept. 19 (Bloomberg) -- Fortress Investment Group LLC gave four of its top executives $63 million in compensation last year. As part of the package, the first publicly traded private-equity and hedge-fund firm is paying to help manage their fortunes.
10. Putin Agrees on Steps for Ukraine Cease-Fire With Poroshenko
Sept. 3 (Bloomberg) -- Russian President Vladimir Putin and his Ukrainian counterpart Petro Poroshenko agreed on steps toward a cease-fire in Ukraine’s easternmost regions, where a bloody conflict has raged for more than five months.
COLUMNS
1. What the Secret Goldman Sachs Tapes Uncover: Michael Lewis
Sept. 26 (Bloomberg View) -- Probably most people would agree that the people paid by the U.S. government to regulate Wall Street have had their difficulties. Most people would probably also agree on two reasons those difficulties seem only to be growing: an ever-more complex financial system that regulators must have explained to them by the financiers who create it, and the ever-more common practice among regulators of leaving their government jobs for much higher paying jobs at the very banks they were once meant to regulate. Wall Street’s regulators are people who are paid by Wall Street to accept Wall Street’s explanations of itself, and who have little ability to defend themselves from those explanations.
2. Occupational Hazards of Working on Wall Street: Michael Lewis
Sept. 24 (Bloomberg View) -- A few times in the past several decades it has sounded as if big Wall Street banks were losing their hold on the graduates of the world’s most selective universities: the early 1990s, the dot-com boom and the immediate aftermath of the global financial crisis (Teach for America!). Each time the graduating class of Harvard and Yale looked as if it might decide, en masse, that it wanted to do something with its life other than work for Morgan Stanley.
3. Goldman Just Says ‘Vice President’ Out of Courtesy: Matt Levine
Sept. 4 (Bloomberg View) -- My basic view of Sergey Aleynikov -- the former Goldman Sachs programmer who left for a high-frequency trading firm, took some code on his way out the door, was arrested by the FBI at Goldman’s instigation, was convicted of theft and sentenced to eight years in prison, was released after about a year when an appeals court ruled that he hadn’t committed a crime, and was then charged with the theft again in state court just out of prosecutorial spite -- is that Goldman has been unnecessarily mean to him and that the very least it can do would be to pay his (more than $2.3 million!) legal bills for the absurd criminal cases it put him through.
4. Wells Fargo Analyst Told Trader What Stocks to Buy: Matt Levine
Sept. 29 (Bloomberg View) -- Loosely speaking, the job of a research analyst at an investment bank is to predict whether a stock will go up or down. That is a useful skill to have! If you have that skill, your bank can put it to use in two different ways. You can tell your bank’s traders which stocks will go up or down, and then they can trade and make money. Or you can tell your bank’s customers which stocks will go up or down, and then they will trade and pay your bank commissions and make money and feel grateful to your bank and want to give you more commissions.
5. ESPN Story Topples Goodell’s House of Cards: Kavitha A. Davidson
Sept. 22 (Bloomberg View) -- The Baltimore Ravens once again have a lot of explaining to do.
MULTIMEDIA
1. Draghi Says ECB to Start ABS Purchases as Rates Lowered
Sept. 4 (Bloomberg) -- European Central Bank President Mario Draghi speaks at a news conference in Frankfurt about the decision to start buying a “broad portfolio” of asset-backed securities.
2. Fed Chair Janet Yellen’s News Conference (Statement)
Sept. 17 (Bloomberg) -- Federal Reserve Chair Janet Yellen speaks about the outlook for the U.S. economy and Fed policy.
3. Apple Chief Executive Tim Cook Unveils IPhone 6 and 6 Plus
Sept. 9 (Bloomberg) -- Apple Inc. Chief Executive Officer Tim Cook unveils the new iPhone 6 and iPhone 6 Plus. The phones come in screen sizes of 4.7 inches and 5.5 inches, along with rounded edges and a thinner frame than earlier models, as well as higher-resolution displays.
4. Draghi Says Risks to Euro-Area Economy on ‘the Downside’
Sept. 22 (Bloomberg) -- European Central Bank President Mario Draghi says risks to the euro-area economy are “clearly on the downside.”
5. Robertson Says Bond Bubble Will End in ‘Very Bad Way’
Sept. 22 (Bloomberg) -- Julian Robertson, co-founder and chairman of Tiger Management LLC, and William Conway, co-founder and co-chief executive officer of Carlyle Group LP, talk about the financial markets, private equity, hedge funds and investment strategy.
To contact the reporter on this story: Audrey Barker in New York at abarker3@bloomberg.net
To contact the editors responsible for this story: Alan Mirabella at amirabella@bloomberg.net James Amott
