Monthly Archives: January 2004
‘Outraged’ ex-insiders chastise fund industry Amid the scandal, what should investors do? OUTLOOK 2004 /Global Markets Preview
The U.S. mutual fund industry will mark its 80th birthday in March, but no one is much inclined to celebrate as the $7 trillion business slogs through the worst scandal in its history. Some of the biggest, oldest and proudest […]
For U.S. regulator, a busy year looms SEC is expected to move aggressively to assuage investor worries OUTLOOK 2004 /Global Markets Preview
Defying a tradition that occurs once every four years here, the U.S. Securities and Exchange Commission enters this presidential election year with an ambitious and contentious agenda. Every four years, most federal agencies all but go underground when it comes […]
Citigroup’s Underwriting Business Jumps 25%
WEST PALM BEACH (HEDGECO.NET)- Citigroup�s underwriting business rose by 25% during 2003, from $4.26 trillion in 2002, to $5.33 trillion in 2003, according to data from Thompson Financial. This isthe third year in a row that Citigroup led other underwriters […]
Economic road ‘lined with surprises’
Stocks likely headed for ‘re-bubble’ in 2004 Mortgage rates are holding just below 6 percent, rising on the extraordinary strength of the purchasing managers’ survey for December, released this morning. If the jobs data next Friday are likewise way above […]
401(k)s dump scandal-tainted funds
More than half of U.S. companies are dumping retirement plan investment options — or are considering doing so — as a result of the mutual fund scandal. Nearly one-quarter of chief financial officers say they jettisoned mutual funds implicated in […]
MUTUAL FUND SCANDAL FAILS TO DERAIL GAINS BY STOCK FUNDS
WEST PALM BEACH (HEDGECO.NET)- The US Stock market ended the year with an impressive gain of 25.3% surpassing expectations of the investment community. The NASDAQ market netted a spectacular gain of50% in 2003, while the S&P 500 index advanced by […]
Hedge Fund Assets Projected to Grow by 20% in 2004
West Palm Beach (HedgeCo.Net) -Hedge fund industry observers have projected that total assets under management by Hedge Funds would grow by 20% during 2004, to nearly $700 billion. Such projectionwas based on the expectation that institutional investors in both the […]
What a party!while it lasted
IT was a sign of the times that Zainal Alam Kadir changed his cat’s vet. Fed-up with the long wait to have his big affectionate Persian, Creamy, attended to, the then-business reporter had popped hishead into the examination room. The […]
California to Probe Three Mutual Fund Companies
Jan. 3–California Attorney General Bill Lockyer announced Friday that his office will launch an investigation into whether three large mutual fund companies in the state defrauded investors byfailing to disclose deals with brokers that ensured preferential treatment for the companies’ […]
Business & Media: The inside view: Normal service is at hand: The best that can be said about share prices on both sides of the Atlantic is that they are fairly valued
So, I’ve dug out the Windowlene and an old T-shirt. It’s time to give the crystal ball its annual polish before attempting to divine next year’s financial trends in its foggy innards. Its record isno better than a random spin […]
My picks for the world’s winners and losers in 2004
In last year’s office pool, for the second year running, I accurately predicted the best picture Oscar winner. Forget all of the other predictions, which were varying degrees of mistaken; I shouldabeen a film critic. The multiple choices include one, […]
SEC has its cleanup work cut out for it
SEC has its cleanup work cut out for it Normally, agencies avoid controversial decisions in an election year By STEPHEN LABATON New York Times Friday, January 2, 2004 Washington — Defying a quadrennial tradition here, the Securities and Exchange Commission […]