investment management

BlackRock's stock price fell sharply on Wednesday morning after the global investment management firm confirmed that Bank of America and PNC Financial Services would sell 42 million of its shares in a secondary offering.

A hot topic on Wall Street last week was who would potentially replace the Oracle of Omaha at Berkshire Hathaway when he leaves. The latest candidate? Li Lu, a relatively unknown fund manager whose portfolio has averaged a 24% annual return.