A pair of moves by the Internet giant proves complicated financial transactions are still alive and well.
FORTUNE -- Wall Street deals haven't gotten any less convoluted since the financial crisis. We got some more evidence of that this week.
On Tuesday night, Yahoo announced it was raising $1 billion and at the same time buying back $5 billion worth of its own stock. Reporters covering the deal focused on the MOREStephen Gandel, senior editor - Nov 22, 2013 7:00 AM ET
Recent settlements with SAC and JPMorgan are shielding the firms from lawsuits.
FORTUNE -- Justice continues to come with slightly less pain for Wall Streeters.
The most recent evidence of this phenomenon comes from the government's prosecution of hedge-fund billionaire Steven Cohen. Earlier this month, Cohen's firm SAC Capital pled guilty to insider trading charges. U.S. prosecutors have called SAC a criminal enterprise, and the firm is paying the largest fine related MOREStephen Gandel, senior editor - Nov 20, 2013 5:00 AM ET
The market is up, but Wall Street has less to be excited about now.
FORTUNE -- The stock market probably isn't in a bubble, but there's a bigger risk you need to consider: That buying now will mean much lower returns over the next few years.
The valuation on the S&P 500 is still reasonable enough – a P/E of 16.6, based on trailing earnings, which is only slightly higher than average.
That's MOREStephen Gandel, senior editor - Nov 19, 2013 5:00 AM ET
Which finance exec deserves a tip of the hat for 2013? Fortune's Stephen Gandel offers his picks. Tell us what you think.Stephen Gandel, senior editor - Nov 18, 2013 11:39 AM ET
I took to the Twittersphere to defend my article on Wal-Mart's pay problem.
FORTUNE -- Earlier this week, I wrote an article saying Wal-Mart could afford to significantly increase what it pays its employees.
My basic argument: Wal-Mart, like all companies, has to split up the money it generates between investors, lenders, and workers. And when you take a look at where shares of Wal-Mart (WMT) are trading, it seems to imply MOREStephen Gandel, senior editor - Nov 15, 2013 4:40 PM ET
In the Fed's mirror, a stock market bubble is appearing farther away than it may actually be.
Fortune -- At Thursday's confirmation hearing for Janet Yellen, the nominee to be the next Federal Reserve chairman was asked whether she thought there was a bubble in the stock market.
Yellen gave a pretty clear answer: No.
"Stock prices have risen pretty robustly," Yellen said. "But I think that if you look at traditional valuation MOREStephen Gandel, senior editor - Nov 15, 2013 12:04 PM ET
CEO of Goldman Sachs says 2008 and its aftermath made him think about quitting, but ended up making him a better person.
FORTUNE -- Lloyd Blankfein says the financial crisis was, for him, a period of personal growth.
Millions of Americas were facing foreclosure. Many, many more lost their jobs. Blankfein had to face stinging public criticism of his firm.
The Goldman Sachs CEO, speaking at an industry conference on Tuesday, said there MOREStephen Gandel, senior editor - Nov 13, 2013 1:42 PM ET
Manager of world's largest hedge fund says Fed has made the market a risky place to invest.
FORTUNE -- Investors need to get ready for disappointment.
Ray Dalio, who manages the world's largest hedge fund, believes stocks will only return 4% over the next decade. But that might not be bad compared to other assets. Dalio says bond investors will do worse.
The Bridgewater Associates head made the downbeat investment projections on Tuesday MOREStephen Gandel, senior editor - Nov 12, 2013 11:50 AM ET
The world's largest retailer is under fire for its low wages. But the numbers show it can easily pay more without tanking its stock.
FORTUNE -- When a Wal-Mart executive boasted at a Goldman Sachs investor conference in September that 475,000 of the company's U.S. store associates make more than $25,000 -- meaning that a large portion of its 1.4 million workers in the U.S. make less -- a long-simmering debate MOREStephen Gandel, senior editor - Nov 12, 2013 10:27 AM ET
In a new filing, the bank reiterated that it's not worried about future legal expenses.
FORTUNE -- Morgan Stanley is either the cleanest bank on Wall Street, or it's living in denial.
Talk of JPMorgan Chase's $13 billion settlement has dramatically upped the expectations of what banks may pay to put the financial crisis behind them. On Thursday, in a regulatory filing, Goldman Sachs (GS) estimated it may spend $4 billion more MOREStephen Gandel, senior editor - Nov 8, 2013 5:00 AM ET
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