The New York Times says broker/dealers don't have to be honest, that the suitability rule isn't strong enough. And the Gray Lady says investors should seek out Certified Financial Planners and RIAs. ...
I received this note from our own Stan Luxenberg, our long-time mutual fund correspondent: "Quant funds disappointed investors during the financial crisis. The computer systems failed badly in 2008 and 2009. But this year the computers are back on...
Well, everyone wants a piece of the high-net-worth advisory biz. According to this morning's New York Post, Jamie Dimon and crew are planning on hiring thousands of advisors and support staff to rake in wealthy retail clients. Selected Chase banks...
Today the Investment Company Institute, the mutual fund lobby, reported: "Long-term funds—stock, bond, and hybrid funds—had a net outflow of $36.78 billion in August, vs. an outflow of $21.26 billion in July." Year-to-date: $25 billion has been...
I don't know the minute details of the class action lawsuit against BoA (Ticker: BAC) for allegedly hiding what would become a $15.3bn loss in its acquisition of troubled Merrill Lynch back in September of 2008. But I think the class action...
Modern Portfolio Theory (MPT) has been the very bedrock of investment management and, more specifically, portfolio construction and asset allocation, for decades. To oversimplify, one might explain MPT to clients this way: It is literally a...
