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Bloomberg News

Ryan Jacob, who resigned last month as manager of the Internet Fund, the sixth-best-performing stock fund in the U.S. this year, is introducing a rival fund and is in talks to sell an equity interest in his new company. Jacob, 29, filed documents with the Securities and Exchange Commission to open the Jacob Internet Fund and register his company, Jacob Asset Management, as an investment advisor. . . . A New York Stock Exchange seat sold for $2.5 million on Thursday, a 4% decrease from the previous sale. A seat on the NYSE gives the owner membership on the world's biggest stock exchange. The last sale occurred March 1, when a seat sold for a record $2.6 million.

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