| | Ackman apologizes for Valeant losses, calls bet a mistake | | BOSTON (Reuters) - Billionaire hedge fund manager William Ackman has apologized to clients for betting on Valeant Pharmaceuticals International Inc , telling them he was "deeply and profoundly sorry" for losing so much of their money on the investment. | | | | | BlackRock cuts fees and jobs; stockpicking goes high-tech | | NEW YORK (Reuters) - BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market. | | | | | Bacardi family spirit: Remember your roots and be frugal | | NEW YORK (Reuters) - Facundo L. Bacardi had little interest in joining the family business, which happens to be the largest privately held spirits company in the world, with a portfolio of more than 200 brands, including Bombay Sapphire, Grey Goose and Dewar's. | | | | | Morgan Stanley rates Banco BTG Pactual stock 'overweight' | | SAO PAULO (Reuters) - Grupo BTG Pactual SA's stock is undervalued based on its ability to outperform peer banks in Latin America, where investment-banking and asset management activities remain underpenetrated, analysts at Morgan Stanley & Co said on Tuesday. | | | | | | | | | Related Video | | | | | | | | | Related News | | | | | | | | | | | Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today | | | | | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today | | | | » » MORE NEWSLETTERS | | |