Keyword: mutualfunds

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  • Financial Advice - Vanity

    01/31/2014 8:58:25 PM PST · by Rural_Michigan · 48 replies
    I spend a lot of time browsing FR, and have noticed a lot of FReepers have a lot of knowledge/opinions pertaining to finances. There also appears to be a good number of Freepers who are about retirement age with a good conservative viewpoint. Taking into consideration current events and the steady devaluation of the dollar, my question to the experienced Freepers out there is this: Let's say you're 25, are debt free, make no car payments, earn O-2 pay and are unmarried. You don't have any retirement accounts but are apprehensive of starting an IRA or contributing to a Thrift...
  • Political intelligence firms set up investor meetings at White House

    05/27/2013 1:58:49 AM PDT · by Brad from Tennessee · 12 replies
    Washington Post ^ | May 26, 2013 | By TOM HAMBURGER
    Wall Street investors hungry for advance information on upcoming federal health-care decisions repeatedly held private discussions with Obama administration officials, including a top White House adviser helping to implement the Affordable Care Act. The private conversations show that the increasingly urgent race to acquire“political intelligence” goes beyond the communications with congressional staffers that have become the focus of heightened scrutiny in recent weeks. White House records show that Elizabeth Fowler, then a top ­health-policy adviser to President Obama, met with executives from half a dozen investment firms in 2011 and 2012. Among them was Kris Jenner, a stock picker with...
  • Rahm Emanuel Writes to Mutual Funds Urging them to Blacklist Gun Companies

    02/01/2013 10:00:14 AM PST · by SeekAndFind · 31 replies
    Pajamas Media ^ | 02/01/2013 | Bryan Preston
    Rahm Emanuel Writes to Mutual Funds Urging them to Blacklist Gun CompaniesPosted By Bryan Preston On January 30, 2013 @ 11:29 am In Politics | 33 Comments The tyrant of Chicago is at it again. Mayor Rahm Emanuel is now pushing mutual funds to divest and blacklist gun manufacturers for the crime of opposing the Obama regime’s gun-control efforts.Emanuel’s statement on his assault on the First and Second Amendments: “Just like the banks and pension funds, I believe that these Mutual Funds can exert an enormous amount of influence by taking a stand against gun manufacturers that continue to refuse...
  • ETFs Or Mutual Funds For Your IRA?

    01/07/2013 11:01:24 AM PST · by Ernest_at_the_Beach · 5 replies
    investopedia.com ^ | July 19, 2012 | Tim Parker
    Isn't freedom great? If you've held a company-sponsored 401(k) or 403(b), you know that your company gave you a false sense of freedom. They said that you were "free" to pick from any one of the handful of mutual funds that they picked for you. Picking from their choices doesn't seem like much freedom, but maybe you took the extra step and opened an IRA. Now that's freedom. With IRAs opened outside of your company, you have the choice of just about any investment option on the market. Ninety-four billion dollars is invested in self-directed IRA accounts, where many...
  • Dave Says Knock Out that Hospital Bill

    01/01/2013 8:04:29 AM PST · by Kaslin · 22 replies
    Townhall.com ^ | January 1, 2013 | Dave Ramsey
    Dear Dave, My wife and I are 70, and we have $950,000 in annuities in the market, plus $68,000 in our emergency fund. The only debt we have is our mortgage. I’m considering converting our stocks to a money market account to lower the risk. What do you think?HowardDear Howard,There are two sides to this. One is the asset allocation method, where as you grow older you move away from equities like mutual funds toward safer, more conservative investments like money markets, bonds and certificates of deposit. This is standard financial planning theory.I disagree with that theory, and here’s why....
  • Anxious investors day trading with retirement accounts

    07/12/2012 6:35:45 AM PDT · by george76 · 10 replies
    Los Angeles Times ^ | July 09, 2012 | Walter Hamilton
    Baby boomers and others worried about the lack of money in their 401(k)s and IRAs are day trading within their retirement accounts. Americans worried about running out of money in their golden years are trying a new investment strategy: day trading their retirement funds. Disillusioned with the conventional buy-and-hold approach, baby boomers are anxious to improve their retirement prospects after two punishing bear markets in the last decade. Some people are trading the mutual funds in their 401(k) plans more frequently. Others are venturing into options. And some aggressive investors have begun day trading their nest eggs — all in...
  • 29 Consecutive Equity Mutual Fund Outflows

    11/24/2010 12:37:20 PM PST · by The Comedian · 26 replies · 1+ views
    zerohedge.com ^ | 11/24/2010 | Tyler Durden
    Any minute now, any minute, we promise, investors will regain all their confidence in this non-charade of a market which reflects all the fundamental realities of the economy. Just not yet: last week saw the 29th consecutive outflow from domestic mutual fund flows, which incidentally surged to $2.8 billion from the $677 million outflow the week prior. Sarcasm aside, nobody except for CNBC's Fast Money is putting money in the market. Well, so are the Primary Dealers, and to an extend the Hedge Funds. Although now that the letter no longer have access to pervasive insider info courtesy of expert...
  • Vanguard Ends Fidelity's Two Decade Reign as Largest Fund Family (by Assets)

    09/30/2010 7:14:42 AM PDT · by WebFocus · 2 replies
    The go go days of the 1990s was the heyday for growth oriented stock picking fund families like Fidelity. Their star manager system - led by legendary Peter Lynch - and huge funds (Lynch's Fidelity Magellan was once the largest in the country) made them the most prominent fund family in America. But the past decade has not been so kind as "close your eyes, throw a dart, long only is the way to go, and stocks just go up almost every year in a magical way" investing of 1983 to 1999 came to abrupt end in 2000. [Feb 5,...
  • Investor Fund Flows Have Never Been This Bearish Since Lehman Collapsed

    06/06/2010 8:42:37 AM PDT · by blam · 12 replies · 530+ views
    The Business Insider ^ | 6-6-2010 | Vincent Fernando, CFA
    Investor Fund Flows Have Never Been This Bearish Since Lehman Collapsed Vincent Fernando, CFA Jun. 6, 2010, 8:45 AM It's a bit of a surprise that stocks didn't fall further. The last four weeks were actually the worst 1-month outflows since Lehman collapsed in 2008, as shown below in red: From a fund flow perspective, investors in mutual funds have now pulled money out of U.S. stocks during 2008, 2009, and now year-to-date in 2010. To us this should be read as a substantial contrarian indicator. The investor panic was enormous during the last four weeks, and on a multi-year...
  • USAA CEO ROBLES: Please Contact Your U.S. Senator Today

    04/22/2010 6:50:43 PM PDT · by GOP Jedi · 37 replies · 1,361+ views
    USAA ^ | April 22, 2010 | Josue Robles Jr
    Rarely in our 87-year history have we turned to USAA members to weigh in with elected representatives on an issue of great importance. But, we are now. The U.S. Senate currently is considering legislation (S.3217) that would impose new rules on the nation's financial services industry, including USAA. As the leading provider of financial services to America's military community, USAA supports financial services reform. However, the current Senate bill would disproportionally impact USAA because we are a unique and fully integrated association. USAA is not like the banks and other companies that helped bring down our economy, and we never...
  • Angry Schwab bond-fund customers win in court

    04/11/2010 7:17:36 AM PDT · by george76 · 4 replies · 560+ views
    cnn ^ | April 10, 2010 | Lisa Gibbs
    Charles Schwab lost a big court decision last week in a case that has significance for investors in mutual funds. A federal judge ruled that Schwab violated the law when its YieldPlus (SWYSX) ultra-short bond fund failed to get shareholder approval before loading up on mortgage-backed securities. When the market for those securities collapsed, the fund lost 36% — a nasty surprise for investors who believed that YieldPlus was a safe alternative to cash. Left to decide is the amount of damages the investors should receive; lawyers say California investors alone lost about $170 million, the rest about $800 million....
  • Many Mutual Funds Are Up 50% in '09 — But Beware

    12/07/2009 7:03:44 AM PST · by SeekAndFind · 7 replies · 490+ views
    TIME ^ | 12/6/2009 | Janet Morrissey
    It's been a great year for many mutual fund investors. Standard & Poor's Equity Research reports that 165 equity mutual funds are up at least 47% through Oct. 31, or at least double the return of the S&P 500. While investors in those funds should feel euphoric, S&P is quick to issue a warning to investors who might fall victim to those seductive returns. The S&P report, issued Friday, indicates that many of the best-performing funds relied on short-term strategies and paid little attention to the underlying fundamentals of the stocks in their portfolios, which could lead to a performance...
  • US no longer insures your money-market fund, but that’s good news

    09/27/2009 10:10:27 AM PDT · by STARWISE · 40 replies · 2,167+ views
    Christian Science Monitor ^ | 9-19-09 | Mark Trumbull
    US no longer insures your money-market fund, but that’s good news Withdrawing federal insurance is part of a broader exit strategy from the government's emergency supports for the economy, expected to gather steam this year. ### Savers take note: Your money-market fund is no longer insured by the US Treasury. These mutual funds, which earn interest for millions of Americans in brokerage or 401(k) accounts, rarely run into financial trouble. Almost always, they are able to maintain a reliable value of $1 per share. “Almost” is the key word, though. Last year, one of the original money-market funds, the Reserve...
  • Father of money market funds charged with fraud

    05/05/2009 4:40:22 PM PDT · by FromLori · 11 replies · 581+ views
    NEW YORK/WASHINGTON (Reuters) - The father of the money market mutual fund -- investor Bruce Bent -- was charged with fraud by U.S. regulators on Tuesday over accusations he deceived investors into believing his flagship fund was safe before it "broke the buck" last year. The civil charges against the veteran money manager, his son and their investment company come eight months after the Reserve Primary Fund, loaded with Lehman Brothers debt, halted redemptions after the investment bank declared bankruptcy, sparking a run on money-market funds. The fund's net asset value fell below $1 after Lehman's bankruptcy last September, meaning...
  • Mutual funds are hazardous to your wealth

    02/16/2009 7:17:04 AM PST · by george76 · 94 replies · 2,179+ views
    MarketWatch ^ | Feb. 15, 2009 | Doug Fabian
    Most investors sustained serious damage to their wealth last year -- damage that, in many cases, will be difficult to recover from. Certainly Wall Street titans, reckless lenders and irresponsible home buyers all deserve their share of the blame. But one part of the financial world has not received much scrutiny for its role in the evaporation of investor wealth, and that is the mutual fund industry. Sadly, a gullible public has bought into the idea that steady investments in mutual funds, regardless of market conditions, is the way to make their financial dreams come true. This is one of...
  • NY Times Sees Old Church vs. New Church

    12/19/2008 9:44:31 AM PST · by NYer · 6 replies · 558+ views
    CMR ^ | September 19, 2008 | matthew archbold
    The New York Times is criticizing Ave Maria Mutual Funds, whose Web site promises “smart investing and Catholic values.” Now, I'm not getting into the merits of the company which I don't know. I don't have the money to do much investing anyway. But the Times Editorial Staff used a little story about Ave Maria as a jumping off point to make a political point about the Church. Ave Maria says it is designed for people who want to put their money “in companies that do not violate core teachings of the Catholic Church.” It says it screens companies using...
  • Fidelity to cut nearly 1,300 jobs

    11/06/2008 11:43:55 AM PST · by NRG1973 · 8 replies · 887+ views
    Associated Press via Yahoo ^ | November 6, 2008 | MARK JEWELL
    Fidelity Investments is cutting nearly 1,300 jobs this month and the mutual fund company says more layoffs are coming early next year. Boston-based Fidelity said Thursday it will lay off about 2.9 percent of its more than 44,000-employee work force later this month. The company isn't specifying which of its far-flung locations will be affected. A second rounds of layoffs is planned in the first three months of next year. Fidelity says the number of those cuts will be determined in coming weeks. Fidelity says the cuts are a response to global economic conditions, and unsettled financial markets.
  • T. Boone Pickens' Crystal Ball

    06/15/2008 6:23:43 AM PDT · by kellynla · 30 replies · 137+ views
    money.cnn.com ^ | T. Boone Pickens
    The Texas oil man discusses the oil-futures market investigation, Yahoo, the presidential election and his wind investments.
  • New Mutual Funds Observe Islamic Law

    12/14/2006 10:29:00 AM PST · by Choose Ye This Day · 27 replies · 740+ views
    Investment Adviser ^ | December 7, 2006 | Kara Stapleton
    New Mutual Funds Observe Islamic Law Deutsche Bank introduces Shari`a-compliant funds Deutsche Bank has launched five mutual funds that comply with traditional Islamic law, or Shari’a, in response to what it said was a growing demand for Islamic investment products. Marketed as DWS Noor Islamic Funds, Deutsche Bank says they are the first to be Shari`a compliant and excludes investments in alcohol, gambling, or companies with large amounts of debt. "With DWS Noor Islamic Funds, our Islamic clients can rely on a strictly Shari`a-compliant framework while benefiting from attractive international investment opportunities usually only available as conventional mutual fund products,"...
  • Roll Over Cash Balance Accounts (Disgusting Vanity!)

    12/05/2006 6:03:52 PM PST · by Little Bill · 11 replies · 420+ views
    self | 12/05/06 | Self
    I rolled over a small cash balance from a company I worked for to an IRA. They, the Company recieving the money, didn't deposit it to my account. I talked to the company that held the money and they sent me a copy of the check. I am going to talk to the company that recieved the money, how should I handle it?
  • Fox News Host: AARP is Hypocritical

    05/12/2006 9:38:51 AM PDT · by george76 · 38 replies · 1,350+ views
    Financial-Planning ^ | May 5, 2006 | Hannah Glover
    News program host chides retirement group for opposing Social Security reform while establishing mutual funds. Fox News host Neil Cavuto slammed AARP for entering the mutual fund marketplace after opposing President George W. Bush's proposal to invest Social Security funds in the stock market, calling the organization "hypocritical." AARP Vice President of Investment Services Nancy Smith defended the 36 million-member elder American advocacy group. "I'm not saying that all of the Social Security dough, just part of the dough [should be] invested in the market," said Cavuto, the host of Fox News's "Your World." Cavuto called the current Social Security...
  • Mutual funds look beyond chaos in Iraq

    03/20/2006 6:41:44 PM PST · by do the dhue · 12 replies · 507+ views
    Wall Street Journal via Post Gazette ^ | March 17, 2006 | Jennifer Levitz
    March 17, 2006 By Jennifer Levitz, The Wall Street Journal Considering the strife bordering on civil war, this may not seem like the best time for mutual funds to put money into Iraq. But some are doing just that. Looking for high yields -- and confident that oil reserves will be there to repay the debt -- mutual funds are among the investors quietly buying small chunks of about $2.8 billion in bonds issued by the Iraqi government in January as part of its restructuring of debts left by Saddam Hussein. T. Rowe Price Group Inc., based in Baltimore, says...
  • If your mutual funds own newspaper stock, you may have a problem

    03/18/2006 8:33:10 AM PST · by Grampa Dave · 56 replies · 873+ views
    self, moneycentral.msn.com | 18 March 2006 | Grampa Dave
    To Jim Robinson, admin moderator, please excuse this vanity. This is the only way of warning Freepers that their mutual funds may be invested in stocks of our enemies and real potential losers, the stocks of the lying, spinning and probable dinosaur fishwraps or newspapers. Since, GW was re elected, the stock values of many of the major lying/spinning fishwraps have been falling like a rock dropped in a ocean. This past week has been a very bad week for many newspaper stocks with the reports of less subscribers and the NYT and TRB may have their bond rating lowered...
  • Banks cater to expanding Muslim population

    01/23/2006 11:41:28 AM PST · by JZelle · 28 replies · 805+ views
    The Washington Times ^ | 1-23-06 | Tom Ramstack
    A financial firm plans to open an office in Fairfax County in early March to sell mutual funds to the Washington area's Muslims, joining banks and investment houses that find the growing U.S. Islamic population can no longer be ignored. Saturna Capital Corp. plans to sell its Amana mutual funds to the Washington area's approximately 200,000 Muslims who want to avoid violating Islamic law with their investments.
  • Hedge Funds are now the New Mutual Funds (Oh Dear !)

    01/18/2006 6:55:12 AM PST · by SirLinksalot · 8 replies · 433+ views
    Slate ^ | 12/27/2005 | Daniel Gross
    Hedge Funds Are the New Mutual Funds Oh, dear. By Daniel Gross This was the year of hedge funds. The largely unregulated pools of private capital—generally available only to institutions and the rich—have proliferated nearly as fast as adulatory articles about them. Hedge-fund managers have historically been the Garbos of the asset management world: They want to be left alone by the media, by the public, and above all, by the Securities and Exchange Commission. But in recent years—and especially in 2005—they've had a coming-out party. Aggressive hedge-fund managers are seeking to shake up management and push restructurings at blue-chip...
  • SEC Accuses 6 Ex-Putnam Execs of Fraud

    01/03/2006 9:16:46 PM PST · by george76 · 189+ views
    Associated Press ^ | Jan 3, 2006 | ap
    Federal regulators have accused six former executives of Putnam Fiduciary Trust Co., the transfer agent for a big mutual fund company, of defrauding several funds and a 401(k) plan client of some $4 million in 2001. The Securities and Exchange Commission on Tuesday announced the civil lawsuit against the six individuals, filed Friday in federal court in Boston, where mutual-fund company Putnam Investments is based. Because it was covered up, the scheme was not discovered until January 2004, according to the SEC. The SEC is seeking injunctions and unspecified civil fines against the six former executives: Karnig Durgarian Jr., a...
  • VANITY: Investment Club

    09/25/2005 9:46:28 AM PDT · by Dan Nunn · 12 replies · 500+ views
    I was recently inspired by an idea I saw on, of all things, The Simpsons. The plot started as Marge and her friends were gathered at their weekly investment club meeting. Helen Lovejoy was presenting to the club a chart of Dynaflux Unimatics's stock up seven and three quarters.
  • SEC passes fund-governance rule again~~Chamber of Commerce vows to sue agency over vote

    06/29/2005 1:06:42 PM PDT · by Ernest_at_the_Beach · 13 replies · 251+ views
    Marketwatch ^ | June 29, 2005 Last Update: 3:47 PM ET | Robert Schroeder, MarketWatch
    FUNDWATCH SEC passes fund-governance rule againChamber of Commerce vows to sue agency over vote By Robert Schroeder, MarketWatchLast Update: 3:47 PM ET June 29, 2005   WASHINGTON (MarketWatch) -- A split Securities and Exchange Commission on Wednesday approved for the second time in a year rules intended to curb conflicts of interest in the mutual-fund industry, angering critics who had sued to fight the measures. In a 3-to-2 vote, the panel passed rules that compel funds' boards of directors to have independent chairmen, and for 75% of board directors to have no ties to management. Wednesday's vote was taken eight days...
  • The Proof's in the Pension

    04/25/2005 8:36:47 PM PDT · by neverdem · 3 replies · 1,532+ views
    NY Times ^ | April 26, 2005 | JOHN TIERNEY
    OP-ED COLUMNIST SANTIAGO, Chile I made a pilgrimage to Santiago seeking to resolve the Social Security debate with a simple question: What would Pablo Serra do? I wanted to compare our pensions to see the results of an accidental experiment that began in 1961, when he and I were friends in second grade at a school in Chile. He remained in Chile and became the test subject; I returned to America as the control group. By the time we finished college, both of our countries' pension systems were going broke. Chile responded by pioneering a system of private accounts in...
  • 'Socially Responsible' Fund Drops Starbucks (No longer politically correct)

    03/24/2005 9:48:09 AM PST · by KidGlock · 34 replies · 833+ views
    WFTV ^ | 3/24/05
    'Socially Responsible' Fund Drops Starbucks Pax World Funds Sold Starbucks Shares Worth $23.4 Million POSTED: 9:36 am EST March 24, 2005 UPDATED: 9:57 am EST March 24, 2005 SEATTLE -- Starbucks is no longer considered socially responsible by a mutual fund company for ethical investors. Pax World Funds is disappointed that the coffee chain has taken up with Jim Beam. Their distribution agreement for a coffee-based liqueur has led Pax to divest itself of 375,000 shares of Starbucks worth more than $23 million. Pax had liked Starbucks' record on the environment, and the way it treats employees. But the fund...
  • The Least of Our Worries (Social Security reformers should rest easy: the stock market makes money.)

    02/10/2005 11:00:43 PM PST · by nickcarraway · 8 replies · 574+ views
    The American Prowler ^ | 2/11/2005 | Lawrence Henry
    I spent a good chunk of the 1990s writing mutual fund advertising, so much of it that the required caveats and footnotes still trip off the fingers: "Past performance is no guarantee of future results." "The Fund is offered only by prospectus. Please read the prospectus carefully before investing or sending money." Financial services advertising, you see, is ringed about by careful regulation. You can't cherry pick and show off only one good year. You can't make false comparisons. And so forth. One home truth came through that long experience, and I share it here with doubters and fear-mongers who...
  • Shift to Foreign Stocks Sapping the Dollar

    12/20/2004 7:53:17 PM PST · by jb6 · 4 replies · 402+ views
    Yahoo ^ | Mon Dec 20, 7:55 AM ET | Tom Petruno
    Already depressed by the nation's huge budget and trade deficits, the U.S. dollar is being undermined by American mutual fund investors: More of them are funneling money into foreign stock funds, a shift that hurts the greenback. • Latimes.com home page • Subscribe to the Los Angeles Times Thanks in large part to the dollar's weakness, returns on foreign shares overall have significantly outpaced U.S. market returns since 2002. Foreign stock mutual funds have gained 12% a year, on average, over the last three years, compared with a 4.9% average annual gain for domestic stock funds, according to Morningstar Inc....
  • NYP: ELIOT-PROOF POLS (re: N.Y.'s PRESUMPTIVE GOVERNOR, ELIOT SPITZER)

    12/09/2004 6:23:31 AM PST · by OESY · 305+ views
    New York Post ^ | December 9, 2004 | NICOLE GELINAS
    Elliot Spitzer is running for governor. The attorney general who thinks he single-handedly cleaned up Wall Street now wants to clean up Albany. But the Spitzer model of corporate governance that worked so well for him in Manhattan won't work Upstate. Spitzer was able to "reform" Wall Street only because New York's financial luminaries care about their corporate and personal reputations. New York state's officials don't. Spitzer said Tuesday that he's running for governor to "make state government more responsive and accountable." That's a fine idea — and Spitzer's pithy diagnosis of Albany's woes is apt: "The system is broken....
  • Who Owns Haliburton?

    07/18/2004 8:54:28 AM PDT · by PhilipFreneau · 15 replies · 2,473+ views
    18 July 2004 | Philip Freneau
      Some major or well-known Haliburton shareholders, from NASDAQ.com Holder - Institution or Fund Shares Held % Float Holdings Value Date Rpt'd Capital Research and Management Co 31,725,000 7.21 $964,122,730 31-Mar-04 Morgan Stanley 31,103,924 7.07 $945,248,231 31-Mar-04 Wellington Management Co, Llp 21,452,500 4.87 $651,941,461 31-Mar-04 FMR Corporation 14,933,628 3.39 $453,832,945 31-Mar-04 Barclays Bank Plc 14,668,197 3.33 $445,766,497 31-Mar-04 State Street Corporation 12,255,771 2.78 $372,452,873 31-Mar-04 Lord Abbett & Co 9,845,491 2.24 $299,204,465 31-Mar-04 Putnam Investment Management, LLC 9,102,124 2.07 $276,613,542 31-Mar-04 A I M Management Group Inc. 8,890,691 2.02 $270,188,094 31-Mar-04 Vanguard Group, Inc. 8,746,746 1.99 $265,813,605 31-Mar-04 Citigroup, Inc 7,301,271...
  • Financial advice for a kid

    05/07/2004 12:12:52 PM PDT · by brownsfan · 11 replies · 226+ views
    5/7/04 | brownsfan
    I've posted here before on a similar topic. This one is purely for my son. He's 21, and has 4k he wants to invest now. He plans on buying a house in 3 years. I was leaning towards having him put 2k in an index mutual fund, and 2k in bonds. A friend of my son told him to get a 2k CD, and take out a loan against the CD. The theory is that paying back a loan will improve his credit, and offset the loss of interest income. Putting the other 2k in the index fund. Option C...
  • Small time investor - (me)

    04/21/2004 8:58:49 AM PDT · by brownsfan · 4 replies · 234+ views
    me
    I have a few bucks I want to invest. I have a 401k and I have bought the Janus fund in the past. I'm not happy with Janus, not only for the manipulation, but lousy performance in the last year or so. I've read that index funds are the way to go. I've also read that inidividual stocks are the way to go. Everyone has their own take. I figure I can't get too much information, so I thought I'd see what the freepers have to say. I'm looking to invest $3k to $5k. An additional question: My son is...
  • Make Mutual Funds Bare All!

    01/16/2004 5:35:50 AM PST · by presidio9 · 4 replies · 121+ views
    The Wall Street Journal ^ | Friday, January 16, 2004 | SUSAN WOODWARD
    <p>Eliot Spitzer's courage in pursuing mutual fund abuses is inspiring. His new focus on expenses is thrilling. But we need much more than to strong-arm a few badly behaved funds. We need the market force of choices by well-informed investors. At present, the knowledge of the average investor is falling, not rising. As of 1980, only about 10% of adult Americans had ever had any direct contact with the securities markets. Now that figure is over 50%, mainly due to the replacement of traditional pension plans by individual 401k plans. As more people must make their own investment choices, the average level of investing experience declines. It's no surprise that average fund expenses have been rising, not falling.</p>
  • SEC: Fund Share-Touting Abuses Rampant

    01/13/2004 8:07:58 PM PST · by Beck_isright · 5 replies · 145+ views
    Reuters via Yahoo ^ | 01.13.04 | Kevin Drawbaugh
    SEC: Fund Share-Touting Abuses Rampant Tue Jan 13, 6:16 PM ET By Kevin Drawbaugh WASHINGTON (Reuters) - Brokerage firms regularly take payments from mutual funds to tout their shares ahead of others, U.S. regulators said on Tuesday, revealing a probe that showed 13 brokerages engaged in such "revenue-sharing" deals. In another blow to Wall Street and the $7-trillion mutual fund business, the regulators said they are investigating whether dozens of brokerages and funds "adequately informed investors of the conflicts of interest" of revenue sharing. The Securities and Exchange Commission (news - web sites), in a briefing on the findings of...
  • What Mutual-Fund Scandal?

    01/08/2004 5:28:14 AM PST · by presidio9 · 4 replies · 133+ views
    The Wall Street Journal ^ | Thursday, January 8, 2004 | HENRY G. MANNE
    <p>For months now, Eliot Spitzer has terrified the investing public with lurid charges of mutual-fund high jinks. Vast sums of money are alleged to have been lost by long-term investors because some funds allowed a favored few to engage in late trading (using new information to trade in funds at the "stale" price after the legal 4 p.m. closing time) or market timing (basically arbitraging stale-priced funds within fund families). But there is much more innocent behavior and more public welfare in this mutual-fund story than has appeared in the press, and vastly less damage than Mr. Spitzer would have us believe.</p>
  • STRONG OUT AS CHIEF OF FUND FIRM (timed trades for himself, family and friend)

    12/03/2003 12:58:28 AM PST · by Liz · 8 replies · 215+ views
    NY POST ^ | December 3, 2003 | JENNY ANDERSON
    <p>Strong Financial founder, chairman, CEO and chief investment officer Richard Strong resigned from his company yesterday.</p> <p>The move comes as regulators are investigating his fund complex and his own trading activity in the firm's funds.</p> <p>A majority investor, Strong will also seek to divest himself of voting control of the firm, a company statement said.</p>
  • Putnam Fired by Wal-Mart

    11/21/2003 2:28:10 PM PST · by groanup · 21 replies · 797+ views
    Bloomberg ^ | 11/21/2003 | unknown
    Nov. 21 (Bloomberg) -- Putnam Investments, the Boston-based money manager that's suffered more than $9.2 billion in withdrawals by public pension funds this month, was fired by Wal- Mart Stores Inc. as manager of two funds in its 401(k) plans.
  • ANY SURPRISES LEFT SHOULD NOW COME FROM INVESTORS THEMSELVES (mutuals fraud)

    11/09/2003 3:27:04 AM PST · by Liz · 52 replies · 203+ views
    NY POST ^ | 11/09/03 | TERRY KEENAN
    <p>The mutual fund scandal has shone a bright light on an industry where more than half of all American households park their money, and so far the scrutiny has produced a lot of nasty surprises.</p> <p>Who would have thought there were so many inventive ways to cheat your loyal customers?</p>
  • STATE, FEDS READY CASES VS. STRONG AND ALLIANCE (mutuals fraud)

    11/07/2003 5:07:55 AM PST · by Liz · 18 replies · 135+ views
    NY POST ^ | November 7, 2003 | JENNY ANDERSON
    <p>Federal and state regulators may file charges against shady trading mutual fund firms Alliance Capital Management and Strong Capital Management as early as next week, say people familiar with the situation.</p> <p>New York Attorney General Eliot Spitzer is contemplating criminal charges against Richard Strong for quickly buying and selling shares of his own company's funds, say people who have been briefed on the AG's plans. The SEC also is considering charges of self-dealing against Strong.</p>
  • Does Somebody Up There Favor This Fund?

    11/03/2003 2:40:28 PM PST · by Murtyo · 2 replies · 190+ views
    BusinessWeek ^ | 10/31/2003 | STREET WISE
    <p>Religious or "morally responsible" mutual funds are known more for leaving investors with a clean conscience than for producing heavenly returns. One exception may be the Ave Maria Catholic Values Fund (AVEMX ), which invests only in companies whose policies don't conflict with Catholic Church teachings. This year, Ave Maria has risen 21.7% as of Sept. 30, outperforming the Standard & Poor's 500-stock index by 6.9 percentage points and the fund's peer group of midcap-blend portfolios by 4.3 percentage points.</p>
  • Who's Minding Your Mutual Fund?

    11/03/2003 4:39:19 PM PST · by abnegation · 6 replies · 173+ views
    FOX News ^ | 11/03/03 | Neil Cavuto
    <p>Another day, another complicated financial scandal. This time it's mutual funds.</p> <p>Apparently some of them are giving preferential treatment to certain customers to trade their shares when average slobs like us could not.</p> <p>Some in the industry are shocked at the fallout. I'm shocked they're shocked.</p>
  • Fund Scandal Widens, Putnam CEO Is Ousted

    11/03/2003 4:39:52 PM PST · by NormsRevenge · 3 replies · 195+ views
    Yahoo News ^ | 11/3/03 | Herbert Lash - Reuters
    NEW YORK (Reuters) - Fallout from the mutual fund probe erupted on Monday as the head of one of the nation's biggest fund companies was forced out and securities regulators found more firms may have engaged in improper trading. U.S. regulators also accused nearly 450 brokerage firms of overcharging investors for mutual fund purchases and said tens of million of dollars of refunds may be necessary. The U.S. Securities and Exchange Commission (news - web sites) told lawmakers at a Washington hearing that 10 percent of top mutual fund companies may have been involved in illegal late trading. Once seen...
  • INVESTORS' SILENCE SPEAKS LOUDER THAN WORDS (mutual funds probe)

    11/02/2003 5:12:05 AM PST · by Liz · 42 replies · 193+ views
    NY POST ^ | November 2, 2003 | TERRY KEENAN
    <p>It's been one of the greatest mysteries of the post-Enron era.</p> <p>Why did the nation's big institutional investors - primarily mutual funds - turn a blind eye to the rampant accounting fraud and other shenanigans that engulfed not just Enron but WorldCom, Global Crossing, Tyco and scores of others?</p>
  • Fixing 401(k) Means Fewer Funds, Better Choices

    10/27/2003 8:17:38 AM PST · by ladtx · 8 replies · 318+ views
    Bloomberg ^ | 27 Oct 2003 | John Wasik
    <p>Oct. 27 (Bloomberg) -- Less is more. While the famed architect Ludwig Mies van der Rohe wasn't referring to 401(k) investing, perhaps he was prescient.</p> <p>Recent research indicates that more mutual funds in your retirement plan won't necessarily improve your returns. More funds mean more confusion and poorer decisions.</p>
  • To fund owners, this tax bill is a capital idea (Tax help for mutual funds investors)

    05/11/2003 3:16:25 AM PDT · by FairOpinion · 141+ views
    Boston Globe ^ | May 11, 2003 | Chuck Jaffe
    <p>After years of hoping for reform to ease their tax burden, mutual-fund shareowners now have a promising proposal. The bill would be an obvious boon for fund investors, but there's a question on whether it would be best for the country.</p>
  • Bears May Devour More Mutual Fund Firms

    11/09/2002 10:21:17 AM PST · by arete · 3 replies · 252+ views
    MSN Money/CNBC/Reuters ^ | November 09, 2002 09:51:00 AM ET | Christopher Noble
    BOSTON (Reuters) - The U.S. mutual fund industry, battered by a bear market that's driven stock prices down for almost three years, may be poised for a new round of consolidation as healthier companies snap up damaged rivals, industry analysts said. While the industry is used to a constant drumbeat of merger activity, observers said the current situation -- with investors reeling from losses, uncertainty overshadowing the economy and fund companies' shrunken assets depressing their value -- is ideal for an acquirer on the prowl. ``We'll see consolidation in the industry, yes, and there may be more people who'll be...