Western has experienced a record $53bn in net outflows since Leech was put on leave in August, after the investigation compounded investor concerns about years of underperformance. Western performed near the bottom of its class in 2023 and 2022 after betting that inflation would be short-lived.

Hedge fund veteran and Wall Street-approved suit Scott Bessent is likely the new Treasury secretary. That’s why this 11% dividend is a big winner.

If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.

In 1992, Bessent helped Soros pull off the firm’s greatest trade: shorting the British pound. The British government was part of the European Union at the time, and its central bank—the Bank of England—had committed to keeping the value of the pound within a strict range alongside other European currencies,

President-elect Donald Trump’s pick for Treasury Secretary operates a hedge fund that reaped a massive windfall two years ago — even as global markets sagged.