Friday 24 April 2009

In the grip of the bull and bear


Billionaire Prince Alwaleed bin Talal, with a sprawling empire of investments in some of the world's biggest companies, could be described as a human index – a one-man version of the S&P 500 or MSCI World Index.

The Saudi investor's diversified portfolio, including stakes in Citigroup, Apple, Motorola, News Corp and a web of hotel and media interests, has been subject to the rise and fall of the global economy's fortunes as share prices tumbled in the wake of the credit crunch.

There has been cause recently for guarded optimism that the worst of it could be over. This week US Treasury Secretary Timothy Geitner offered further hope for the banking sector by saying he believed the big institutions would pass the government's "stress tests" and show they had adequate capital.

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