Monthly Archives: November 2003
Spreading educational tax break a fine idea
Avrum D. Lank Spreading educational tax break a fine idea By AVRUM D. LANK of the Journal Sentinel staff Sunday, November 16, 2003 Support is building in Madison for a simple idea — extending the state tax advantage of Wisconsin’s […]
Leader of fund used market timing to bleed away millions in profits
NEWS ANALYSIS Leader of fund used market timing to bleed away millions in profits By FLOYD NORRIS New York Times Sunday, November 16, 2003 Who would have thought that Gary L. Pilgrim would seek to profit at the expense of […]
Examination of Charles Schwab Trades Reveals After-Hours Activities
Nov. 15–Charles Schwab, which has built a reputation as the little investor’s friend, revealed yesterday that it’s investigating mutual-fund trades that favored a select few. The discount brokerage said there’s been after-hours trading in mutual funds it sells, which is […]
Personal Finance: Poor super wealthy struggling for cash ; Rich pickings: Market grows in freeing up assets for high net worth individuals
If last week’s rise in interest rates is making you worry about your finances, spare a thought for the poor super-rich. It seems that despite sitting on wealth that most people can only dream about, some are in fact finding […]
Pilgrim Baxter founders who resigned to get $69 million
PHILADELPHIA (AP) — The founders of Pilgrim Baxter & Associates, Gary L. Pilgrim and Harold J. Baxter, will be paid about $69 million by their fund family’s parent company, despite theirresignations in the midst of the sweeping national probe of […]
Schwab finds improper trading in funds
Schwab finds improper trading in funds SEC, state regulators may fight over enforcement turf By LANDON THOMAS JR. New York Times Saturday, November 15, 2003 Charles Schwab, the discount broker that revolutionized the mutual fund industry, said Friday that it […]
Companies take steps to reassure investors
Companies take steps to reassure investors PBHG Funds ousts co-founders; Putnam settles fraud lawsuit By GRETCHEN MORGENSON New York Times Friday, November 14, 2003 Trying to contain deepening investor mistrust, one large mutual fund company ousted its founders Thursday and […]
Tokyo Stocks Tumble, Selling Hits Techs amid Yen’s Rise
Tokyo, Nov. 14 (Jiji Press)–Stocks tumbled on the Tokyo Stock Exchange Friday, dragged down by selling of pricey technology issues amid the yen’s rise versus the dollar. Individual investors, who snapped up their darling Internet business investor Softbank and many […]
Tokyo Stocks Seen Softer Next Week
Tokyo, Nov. 14 (Jiji Press)–Tokyo stocks are seen moving on a soft note next week, as a deteriorating supply-demand balance is likely to weigh heavily on the key Nikkei average. “The Tokyo market has a downside risk and the Nikkei […]
Tokyo Stocks Seen Softer Next Week
Tokyo, Nov. 14 (Jiji Press)–Tokyo stocks are seen moving on a soft note next week, as a deteriorating supply-demand balance is likely to weigh heavily on the key Nikkei average. “The Tokyo market has a downside risk and the Nikkei […]
Spitzer is poised to charge US unit of Old Mutual
NEW YORK attorney general Eliot Spitzer, who has spearheaded the inquiry into improper trading at mutual funds, is likely to take action against Old Mutual’s Pilgrim Baxter Associates early nextweek, writes Richard Thomson. Spitzer said he may take action against […]
Bush Campaign Fund-Raising Team Grows
WASHINGTON (AP) – President Bush’s list of volunteer campaign fund-raisers is getting bigger: More than 300 people have raised $100,000 or more for the Republican since he began his re-electioncampaign in May. At least 106 people have raised the $200,000 […]