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The yield enhancement strategy (YES) is often pitched as a “safe” or “low-risk” option for investors who are interested in maintaining consistent returns. However, reality has recently shown that the investment products bought and sold under YES are extremely complex and risky. In recent months, many individual investors have come […]
Imagine your financial adviser selling you a bond fund that you thought was invested in low risk index or municipal securities only to find out that much of your holdings are in high-risk Chinese or Puerto Rico bonds. Unfortunately, that is the situation facing investors who may have unwittingly bought […]
As a shareholder in a publicly-traded or privately-held corporation, your top priority should be protecting your investment. The value of your shares is directly related to the corporation’s profitability, and you need to feel confident that the people who are in control of the company (its officers, directors and majority […]
Zamansky LLC attorney James Ostaszewski, who also serves on the New York City Bar Association’s Task Force on Puerto Rico, recently conducted an interview with New York City Bar President Roger Juan Maldonado and New York State Bar President Michael Miller, regarding a report that the bar associations jointly issued […]
Wall Street is notorious for saying one thing to investors and meaning something else. It’s called “doublespeak,” language that deliberately obscures, disguises or distorts the meaning of words. The term was coined after the great British writer George Orwell used the term “doublethink” to describe a reality that was completely […]
When you started saving for your children’s college tuition with a 529 savings plan, you probably did not give much thought to the risk of investment fraud. As a tax-advantaged investment tool that is sponsored by states across the country, you, like most people, probably assumed that the worst-case scenario […]
A shady deal in 2017 between Wall Street behemoth Blackstone and Hovnanian Enterprises, a leading homebuilder, has shaken investor confidence in the markets. These “manufactured defaults” occur when an otherwise solvent company deliberately defaults on its debt. Powerful investment firms are making big money by encouraging companies to miss bond […]
Financial advisors pitched the so-called “UBS Yield Enhancement Strategy” – or YES strategy – to their mostly ultra-high net worth customers. They sold it as a supposedly safe and efficient mechanism to enhance yield from generally conservative portfolios. Wealthy investors were told that the YES strategy was a neutral or […]
Financials Losses Lead Investors to File UBS YES Strategy Lawsuits Imagine being able to limit your losses and predict your profits. Sounds too good to be true, right? UBS investors were told that the firm’s Yield Enhancement Strategy, or YES, was a sure thing. UBS pitched the YES strategy to […]
Puerto Rico’s efforts to restructure its $120 billion debt load rested largely in the hands of a federal board that was empowered in 2016 under the Puerto Rico Oversight, Management and Economic Stability Act, or PROMESA. PROMESA’s board, known in Puerto Rico as “La Junta” or fiscal control board, has […]