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On December 1, 2005, Stifel Financial closed on the acquisition of the Legg Mason Capital Markets business (LM Capital Markets) from Citigroup Inc.The LM Capital Markets business acquired included investment banking, equity and fixed income research, equity sales and trading, and taxable fixed income sales and trading (22 offices in the US and Europe and 500 associates).
Stifel warns of a sharp stock market correction by year-end, with the S&P 500 potentially dropping 12%. Chief equity strategist Barry Bannister said high valuations and speculative investor ...
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