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Traders are fleeing the year's hottest investment

5 monthes ago   |   By

Reuters / Susana Vera
Bank of America Merrill Lynch clients sold more than $1 billion of tech stocks last week.
Tech stocks in the S&P 500 are up 23% this year, more than double the benchmark.
The scorching-hot tech trade is showing signs of fatigue.
Investors sold more than $1 billion in tech stocks last week, the biggest offloading since January 2016, according to client data compiled by Bank of America Merrill Lynch.
Breaking the exodus down further, all three groups monitored by BAML - hedge funds, institutional clients and private clients - sold shares in tech companies during the...
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The CEO of a $2.4 billion investment bank shares 3 things he looks for in young Wall Street recruits

The CEO of a $2.4 billion investment bank shares 3 things he looks for in young Wall Street recruits

5 monthes ago   |   By

Houlihan Lokey On of the biggest challenges for Scott Beiser, the CEO of $2.4 billion boutique global investment bank Houlihan Lokey, is making sure the company's employees stay engaged and energized.
The firm - which specializes in corporate finance business, restructuring, and financial advisory services - has grown significantly since it went public two years ago, boosting revenue from $681 million in fiscal 2015 to $872 in fiscal 2017.
That growth means Beiser, who has been at the firm 33 years, has more employees to retain and keep engaged, but also more opportunities for recruiting...
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