The one stock Neilson was most bullish on, fatefully, was the Swiss investment giant.
in Sydney’s The Rocks, from where the billionaire manages his considerable private investments, including the $250 million corpus of the Neilson Foundation.only wishes he’d parked that sort of loot in a tax-effective vehicle while he was still a man of great means.“I play for about 60 hours a week,” Neilson said. “This is like a game and there’s an opportunity here.”
and was “rewarded by seeing many small clumps of teak trees, a species that had once dominated this landscape and which has now become a sound investment proposition at $1,000 a ton”.“It’s got a lot of work to do. But the next five years, it will probably go to at least 70 per cent or 80 per cent, I think,” he said.
Over the weekend, UBS was railroaded by the Swiss government into acquiring Credit Suisse. Under the terms of the deal, Credit Suisse shareholders will receive one UBS share for every 22.48 Credit Suisse shares, an implied value of 0.77 Swiss francs per Credit Suisse share, a decline of 75 per cent in the month since Neilson’s interview.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit Suisse investment bank to shrink under Swiss megadealThe Swiss bank will look to cut nearly $12 billion in costs, and a chunk of that could come from areas like Credit Suisse’s investment banking division.
Read more »
Swiss bank UBS steps in amid Credit Suisse crisisA $50 billion Swiss franc line of credit from the Swiss Central Bank was not enough to save Credit Suisse. The threat of a global banking meltdown became real in the minds of regulators and politicians. Switzerland's other banking giant UBS stepped in.
Read more »
Central banks raise concern over Swiss bondholder wipeoutThe UBS takeover steadied sharemarkets, but the ECB and BoE interventions raise questions about the future of a $400 billion market in high-yield bank bonds.
Read more »
Swiss MPs, investors poised to challenge UBS takeoverSwiss pension funds might launch a legal challenge, MPs may convene a special parliamentary session, and class action lawyers circled.
Read more »
Central banks raise concern over Swiss bondholder wipeoutThe UBS takeover steadied sharemarkets, but the ECB and BoE interventions raise questions about the future of a $400 billion market in high-yield bank bonds.
Read more »
Central banks raise concern over Swiss bondholder wipeoutThe UBS takeover steadied sharemarkets, but the ECB and BoE interventions raise questions about the future of a $400 billion market in high-yield bank bonds.
Read more »