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BLUNDERING HERD: Embattled Merrill Lynch in Disarray
NY POST ^
| 6/21/02
| JESSICA SOMMAR
Posted on 06/21/2002 7:52:30 AM PDT by Liz
Edited on 05/26/2004 5:06:56 PM PDT by Jim Robinson.
[history]
Merrill Lynch has retreated from its aggressive merchant-banking effort, as new management at the embattled brokerage shifts strategy.
And some top-level leadership looks set to bail out in the wake.
After two years of raising millions from investors in a health-care private equity fund, Merrill quietly quit the effort this month, canceling its clients' commitments, sources at the firm said.
(Excerpt) Read more at nypost.com ...
TOPICS: Business/Economy; News/Current Events
KEYWORDS:
1
posted on
06/21/2002 7:52:31 AM PDT
by
Liz
To: Liz
Merrill Lynch specializes in making small fortunes for clients. (out of very large fortunes)
2
posted on
06/21/2002 7:59:49 AM PDT
by
1Old Pro
To: 1Old Pro
Merrill Lynch specializes in making small fortunes for clients. (out of very large fortunes) ROTFL. Good one......and s-o-o-o-o true.
3
posted on
06/21/2002 8:14:44 AM PDT
by
Liz
To: 1Old Pro
"Merrill Lynch specializes in making small fortunes for clients. (out of very large fortunes)" Very true.
They sold a 90 year old aunt a mutual fund that cost her a redemption fee every time she needed some money (monthly).
4
posted on
06/21/2002 9:36:16 AM PDT
by
Grammy
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