Wall Street Roundup: Going GOP. Kadafi’s money man.
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Gold: Trading now at $1,500 per ounce, down 0.6 % from Monday. Dow Jones industrial average: Trading now at 12,569.30, up 0.7% from Monday.
Don’t bank on it. Though profit at the big banks looked good at first glance this quarter, most of it came in unsustainable ways, and investors have gone away, unimpressed.
Going GOP. Hedge-fund investors have been a reliable source of funding for the Democratic Party, but that appears to be changing as their political allegiance shifts from President Obama.
Kadafi’s money man. Bloomberg Markets tells the intriguing tale of the money manager in charge of Libyan leader Moammar Kadafi’s sovereign wealth fund who has been on the run since the fighting in Libya began.
-- Nathaniel Popper