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BUSINESS
By Tom Petruno and Tom Petruno,LOS ANGELES TIMES | February 19, 2005
Allegations that American Funds arranged improper sales deals with brokers are posing a quandary for financial advisers, who have helped make the Los Angeles firm the nation's most popular mutual fund company in recent years. After 17 months of revelations that have rocked the fund industry, some advisers say it's difficult to find high-quality companies that haven't had their reputations sullied. "Quite honestly, where else do you go?" asked Emerson Fersch, a principal at Capital Investment Advisers in Long Beach, Calif.
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BUSINESS
By Gail MarksJarvis and Gail MarksJarvis,Tribune Media Services | December 23, 2007
You suggest in your book that a person in his 40s could invest 26 percent of a 401(k) in international stock mutual funds. In a column in November, you warned people about emerging market funds. Do you still feel that 26 percent in international stock funds is the right exposure? I have about 30 percent of my 401(k) in American Funds EuroPacific Growth. - M.A., via the Internet Investing about a quarter of a 401(k) in international funds makes sense. For a 40-year-old, financial planners might divide up 401(k)
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BUSINESS
By CHARLES JAFFE | April 24, 2005
NOW THAT the baseball season has started, I am starting to believe that there is a link between the steroids problems the sport has been having and the scandals that have been besetting the mutual fund business. The connection involves the customers, the ones who don't quite know how to react to seeing their favorite players making unsavory headlines. Some people believe the problems - in baseball and in mutual funds - are overblown, others see overzealous enforcement of rules, and still others are disgusted by wealthy players seemingly taking short cuts to gain an edge.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | December 17, 2006
What do you think of shares of Tiffany & Co.? The company seems to be doing the right things. R.V., via the Internet Its little blue box has contained good earnings results lately. Not many retailers can say domestic sales are being driven by purchases of items costing $20,000 or more, but that is the case with this famous jeweler. Strong U.S. results, particularly all those big-ticket purchases, have compensated for weak results in Japan. It recently reported fiscal third-quarter profits were up 23 percent, and the firm raised its full-year outlook.
BUSINESS
By HUMBERTO CRUZ and HUMBERTO CRUZ,TRIBUNE MEDIA SERVICES | June 18, 2006
Two e-mails from readers hit on the same theme. Here's the first: My husband just retired and consulted with his broker as to what to do with the money in his 401(k) plan, which is invested in no-load Vanguard mutual funds. His broker suggested rolling over the money into an IRA with the American Funds. The American Funds charge a 5.75 percent load. The broker told my husband he wasn't generating enough money in commissions for him. And the second: I put $4,000 into an IRA with American Funds through my brother, who is a financial planner.
BUSINESS
By William Samuel Rocco and William Samuel Rocco,MORNINGSTAR.COM | September 1, 2002
The continuing sell-off in the world's stock markets has hit foreign funds even harder than domestic offerings. While the typical domestic-equity offering has shed about one-third of its value since the current downturn began in the spring of 2000, the average overseas fund has lost nearly 45 percent of its value. Of course, foreign funds can't stay in the gutter forever. Not only are there many good bargains abroad - the price multiples of foreign funds are 15 percent to 20 percent lower than those of domestic offerings on average - but there is also reason to believe the worst might be over in international markets.
BUSINESS
By Russel Kinnel and Russel Kinnel,MORNINGSTAR.COM | June 23, 2002
In my previous column, I began a review of the 10 biggest funds. Today, I'll wrap up with numbers six through 10. Considering how badly giant-cap stocks have done, this group has produced pretty good relative performance, though many had one or two big holdings that soured. Fidelity Growth and Income (FGRIX): Though the fund's 4.43 percent loss doesn't sound too appealing, Steve Kaye is working on another solid year of modest out-performance. Kaye's wariness of high-priced stocks has served the fund well in the bear market.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | December 17, 2006
What do you think of shares of Tiffany & Co.? The company seems to be doing the right things. R.V., via the Internet Its little blue box has contained good earnings results lately. Not many retailers can say domestic sales are being driven by purchases of items costing $20,000 or more, but that is the case with this famous jeweler. Strong U.S. results, particularly all those big-ticket purchases, have compensated for weak results in Japan. It recently reported fiscal third-quarter profits were up 23 percent, and the firm raised its full-year outlook.
BUSINESS
By Scott Cooley and Scott Cooley,MORNINGSTAR.COM | March 24, 2002
This is a good time to be a deep-value fund. With the market favoring companies with genuine, current profits, funds with purer takes on value investing have done relatively well over the past year. For example, Dodge & Cox Stock and American Funds Washington Mutual Investors, which both prefer financials and industrial cyclicals over technology issues, have performed extremely well during the past 12 months. Both posted gains in the 12 months that ended Feb. 28. Dodge & Cox Stock has benefited from gains on decidedly old-economy companies such as Bank One and Union Pacific, while Bank of America and International Paper are among stocks giving a boost to American Funds Washington Mutual Investors.
BUSINESS
By Gail MarksJarvis and Gail MarksJarvis,Tribune Media Services | December 23, 2007
You suggest in your book that a person in his 40s could invest 26 percent of a 401(k) in international stock mutual funds. In a column in November, you warned people about emerging market funds. Do you still feel that 26 percent in international stock funds is the right exposure? I have about 30 percent of my 401(k) in American Funds EuroPacific Growth. - M.A., via the Internet Investing about a quarter of a 401(k) in international funds makes sense. For a 40-year-old, financial planners might divide up 401(k)
BUSINESS
By HUMBERTO CRUZ and HUMBERTO CRUZ,TRIBUNE MEDIA SERVICES | June 18, 2006
Two e-mails from readers hit on the same theme. Here's the first: My husband just retired and consulted with his broker as to what to do with the money in his 401(k) plan, which is invested in no-load Vanguard mutual funds. His broker suggested rolling over the money into an IRA with the American Funds. The American Funds charge a 5.75 percent load. The broker told my husband he wasn't generating enough money in commissions for him. And the second: I put $4,000 into an IRA with American Funds through my brother, who is a financial planner.
BUSINESS
By CHARLES JAFFE | May 8, 2005
CONSUMERS and the media love nothing better than a good price war, with competing businesses slugging it out by dropping prices and creating better deals for customers. But in the much-hyped battle between Fidelity Investments and the Vanguard Group - the world's two largest mutual-fund families - the excitement over reduced expense ratios has overlooked just what this war is about. Dig behind the headlines and you find that this battle isn't so much about Fidelity and Vanguards declaring war against each other, as it is about the two firms going after everyone else in the business.
BUSINESS
By CHARLES JAFFE | April 24, 2005
NOW THAT the baseball season has started, I am starting to believe that there is a link between the steroids problems the sport has been having and the scandals that have been besetting the mutual fund business. The connection involves the customers, the ones who don't quite know how to react to seeing their favorite players making unsavory headlines. Some people believe the problems - in baseball and in mutual funds - are overblown, others see overzealous enforcement of rules, and still others are disgusted by wealthy players seemingly taking short cuts to gain an edge.
BUSINESS
By Tom Petruno and Tom Petruno,LOS ANGELES TIMES | February 19, 2005
Allegations that American Funds arranged improper sales deals with brokers are posing a quandary for financial advisers, who have helped make the Los Angeles firm the nation's most popular mutual fund company in recent years. After 17 months of revelations that have rocked the fund industry, some advisers say it's difficult to find high-quality companies that haven't had their reputations sullied. "Quite honestly, where else do you go?" asked Emerson Fersch, a principal at Capital Investment Advisers in Long Beach, Calif.
BUSINESS
By CHARLES JAFFE | December 29, 2002
LAST WEEK, this column covered the first 10 "winners" of the seventh annual Lump of Coal Awards. The awards are bestowed upon managers, executives, industry watchdogs, and companies for attitude, performance, action or behavior that is offensive, disingenuous, reprehensible or just plain stupid. The final 2002 Lumps of Coal go to: American Express Financial Advisors, for forgetting whose interest comes first. Whenever an AmEx investment adviser sells a mutual fund to a client, the company imposes a "ticket charge" of $15 to $20 - money that comes out of the adviser's pocket.
BUSINESS
By William Samuel Rocco and William Samuel Rocco,MORNINGSTAR.COM | September 1, 2002
The continuing sell-off in the world's stock markets has hit foreign funds even harder than domestic offerings. While the typical domestic-equity offering has shed about one-third of its value since the current downturn began in the spring of 2000, the average overseas fund has lost nearly 45 percent of its value. Of course, foreign funds can't stay in the gutter forever. Not only are there many good bargains abroad - the price multiples of foreign funds are 15 percent to 20 percent lower than those of domestic offerings on average - but there is also reason to believe the worst might be over in international markets.
BUSINESS
By CHARLES JAFFE | December 29, 2002
LAST WEEK, this column covered the first 10 "winners" of the seventh annual Lump of Coal Awards. The awards are bestowed upon managers, executives, industry watchdogs, and companies for attitude, performance, action or behavior that is offensive, disingenuous, reprehensible or just plain stupid. The final 2002 Lumps of Coal go to: American Express Financial Advisors, for forgetting whose interest comes first. Whenever an AmEx investment adviser sells a mutual fund to a client, the company imposes a "ticket charge" of $15 to $20 - money that comes out of the adviser's pocket.
BUSINESS
By CHARLES JAFFE | May 8, 2005
CONSUMERS and the media love nothing better than a good price war, with competing businesses slugging it out by dropping prices and creating better deals for customers. But in the much-hyped battle between Fidelity Investments and the Vanguard Group - the world's two largest mutual-fund families - the excitement over reduced expense ratios has overlooked just what this war is about. Dig behind the headlines and you find that this battle isn't so much about Fidelity and Vanguards declaring war against each other, as it is about the two firms going after everyone else in the business.
BUSINESS
By Russel Kinnel and Russel Kinnel,MORNINGSTAR.COM | June 23, 2002
In my previous column, I began a review of the 10 biggest funds. Today, I'll wrap up with numbers six through 10. Considering how badly giant-cap stocks have done, this group has produced pretty good relative performance, though many had one or two big holdings that soured. Fidelity Growth and Income (FGRIX): Though the fund's 4.43 percent loss doesn't sound too appealing, Steve Kaye is working on another solid year of modest out-performance. Kaye's wariness of high-priced stocks has served the fund well in the bear market.
BUSINESS
By Scott Cooley and Scott Cooley,MORNINGSTAR.COM | March 24, 2002
This is a good time to be a deep-value fund. With the market favoring companies with genuine, current profits, funds with purer takes on value investing have done relatively well over the past year. For example, Dodge & Cox Stock and American Funds Washington Mutual Investors, which both prefer financials and industrial cyclicals over technology issues, have performed extremely well during the past 12 months. Both posted gains in the 12 months that ended Feb. 28. Dodge & Cox Stock has benefited from gains on decidedly old-economy companies such as Bank One and Union Pacific, while Bank of America and International Paper are among stocks giving a boost to American Funds Washington Mutual Investors.
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