The KUIK Closing Market Report for Monday, December 19:
Markets were up.
Index
Direction
Change
Units
Index
Time
Change
Dow
Up
40
points
19,883
1:41 PM
S&P500
Up
0.2%
percent
2,263
4.46
Nasdaq Composite
Up
0.4%
percent
5,457
20.28
30 Year Treasury
Down
(6)
Basis Points
3.12
Annual Yield
Executives of hedge fund Platinum Partners were arrested this morning and charged with defrauding investors in one of the biggest cases since Bernie Madoff. As recently as this fall, Platinum told investors it oversaw more than $1 billion in investments like loans to bankrupt companies and thinly-traded pharmaceutical stocks. It boasted one of the steadiest performance track records in the hedge-fund industry, with no down years for its funds. The indictment unsealed in federal court in Brooklyn charges Platinum founder and Chief Investment Officer Mark Nordlicht, co-chief investment officer David Levy, and former president Uri Landesman with securities fraud, investment adviser fraud, and conspiracy.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
