The Securities and Exchange Commission (SEC) voted last week to impose new rules on money market funds aimed at preventing mass selling during financial panics. The most significant change was the elimination of the fixed $1 share price for certain types of funds. Mary Jo White, SEC Chairwoman, announced: “Today’s reforms fundamentally change the way…
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On top of concerns that the stock market may be highly overvalued right now, investors also have to worry about their bond portfolios. With interest rates continuing to hover around historic lows, bond investors worry that as rates rise, the value of their bonds will drop. We painfully experienced this effect last May, when interest…
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The U.S. economy added 288,000 jobs in June, well ahead of most consensus estimates. Even better, employment gains in April and May were revised upward by about 29,000. The job gains were widespread across economic sectors, causing the overall unemployment rate to decline from 6.3% to 6.1% in June, a new post-recession low. Notwithstanding the…
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Simon Lack, author of The Hedge Fund Mirage, and previously a member of J. P. Morgan’s hedge fund due-diligence team in the early 1990s, argues that hedge funds are overpriced, non-transparent, and provide poor returns over time. During a talk at the CFA Institute’s annual conference in Seattle earlier this year he explained that hedge…
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IRAs are among the simplest and best ways to transfer wealth to heirs. In effect, you are not simply passing on a chunk of money, but rather a chunk of money with future tax-deferred or tax-free growth embedded. However, if you are the beneficiary of an IRA, it’s important that you take the right steps…
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A recent Lincoln Financial Group survey found that retirees significantly underestimate the impact taxes will have on them during their retirement years. When asked before they retired what they expected their top expenses to be in retirement, the majority of pre-retirees surveyed anticipated home and mortgage, health care, and travel/leisure costs to be the highest.…
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