Although we previewed this Friday's upcoming first-quarter results (11 April) from the world's largest bank JPMorgan (JPM:NYSE) in last week's magazine, these days an awful lot can change in markets in the course of a week. Previously, chief executive Jamie Dimon had been upbeat about the outlook for the bank, claiming businesses were more optimistic about the economy thanks to president...

Billionaire hedge fund manager Bill Ackman is not the shy, retiring type who shuns publicity, so when he announced plans to launch an IPO (initial public offering) of a new closed-end fund on the New York Stock Exchange touting a $25 billion valuation it seemed natural to believe he could execute his bold plan without any hiccups.After all, the proposed vehicle would mirror an existing...