Monthly Archives: November 2003
Daily News, New York, Guerrilla Investing Column
Nov. 3–The government is now cracking down on market timers and portfolio managers. This sounds good. But so far, the actions of government have tilted the playing field even more in favor of thepros. In other words, the cure has […]
Pieces Still Missing for Bank of America After FleetBoston Acquisition
Nov. 2–Bank of America chief Kenneth D. Lewis bragged last week that his $47 billion purchase of FleetBoston had created a “long-term vision for a truly national bank.” Not quite. While the new Bank of America will have a strong […]
Scandal Causes Customers to Lose Faith in Mutual Fund Industry
Nov. 2–Some 95 million Americans rely on mutual funds to invest and protect trillions in savings they hope to use to educate their children, buy new homes and help fund their retirements. But a growing scandal in which a number […]
U.S., N.Y. Press Mutual Fund Probe
WASHINGTON (AP) – Federal regulators and New York’s top law enforcer, pressing investigations of a mutual fund scandal, also are drawing up an overhaul of the $7 trillion industry that traditionallyhas enjoyed a pristine image. New York Attorney General Eliot […]
Mutual Funds under Fire as Investors Begin to Feel Sense of Betrayal
Nov. 2–As federal and state regulators launch investigations into some of the nation’s best-known mutual fund companies, investors are gripped by a single question: How could such a thing happen inan industry that prided itself on steering clear of the […]
Growing fund scandal brings calls for reform
Growing fund scandal brings calls for reform Regulatory overhaul may be most sweeping in industry’s history By LISA SINGHANIA Associated Press Saturday, November 1, 2003 New York — The mutual funds scandal has taken on a new, potentially much more […]
Many pennies prove costly for mutual fund industry
NEWS ANALYSIS Many pennies prove costly for mutual fund industry By FLOYD NORRIS New York Times Saturday, November 1, 2003 New York — If you want to steal a lot of money and get away with it, steal a little […]
Regulators Propose Major Changes to Mutual Fund Structures, Operations
Nov. 1–Is your mutual fund safe? Despite the scandal roiling the $7 trillion mutual fund industry, the answer is probably yes. Or, to put it more precisely, at least as safe it ever was, given the turbulent nature of Wall […]
Investor Is Concerned about Allegations against Wisconsin Mutual Fund Firm
Nov. 1–Strong investor Bill Van Lieshout of Madison is in a quandary, and he doubts that he’s the only one. Van Lieshout has placed thousands of dollars in Wisconsin’s EdVest college savings program, which is managed exclusively by a unit […]
Elan eases debt burden with successful placing
Irish pharmaceutical company Elan has eased its medium-term debt obligations after successfully placing 35 million shares and $460 million (E395 million) in convertible bonds within 48 hours. Markets responded positively last night as the company placed the shares at $4.95, […]