How Can the Firms that Manage My Stock Portfolio Declare Record Earnings When the Returns of My Portfolio Stink?
August 12, 2006 -
In June, 2006, www.marketwatch.com (an online financial news service) reported that global investment firms Bear Stearns, Goldman Sachs, Lehman Brothers, Morgan Stanley and Merrill Lynch all declared double digit profit increases in the second quarter of 2006. In fact, upon closer inspection, this statement understated how profitable so…
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