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UBS said to close feeder fund

John Paulson

UBS shut down a feeder fund that provided wealthy clients access to billionaire investor John Paulson's Advantage fund due to the high cost of operating that portfolio, two sources said last week.



Ba Baracus A Team

T-Man makes Citigroup billions

The memo landed on a Sunday in November. It was 2007, and securities backed by subprime mortgages were roiling markets and imperiling banks. Merrill Lynch CEO Stan O’Neal had just resigned under pressure, and Citigroup CEO Chuck Prince was rumored to be on his way out.