Monthly Archives: November 2003
SEC Chair, Securities Regulators Disagree on How to Handle Fund Scandals
Nov. 19–There they go again. Securities and Exchange Commission chairman William Donaldson and top securities regulators in New York and Massachusetts are still arguing over how to handle the mutual fund scandals. At a Congressional hearing yesterday, the brawl almost […]
Denver-Based Janus Capital Is Latest Mutual Fund Trader to Lose Its CEO
Nov. 18–Janus International chief executive Richard Garland resigned on Monday, the latest head to roll in a widening probe over mutual-fund trading agreements that hurt small investors. Denver-based Janus Capital Group offered no formal explanation of why Garland left, in […]
Investors Accuse Woodland Hills, Calif.-Based Health Net of Hiding Finances
Nov. 18–An investor group has sued Health Net Inc. for more than $200 million in damages, alleging the Woodland Hills-based managed care company concealed financial information about its formersubsidiary. The lawsuit, announced Monday, claims that Health Net did not reveal […]
Daily News, New York, Guerrilla Investing Column
Nov. 17–As I was walking to work last Friday, I approached the townhouse of a money manager friend named John. Two detectives were waiting in front of the garage. A car pulled up. The first detective flashed his badge. I […]
Mutual Fund Industry Has Betrayed Many People in Small Ways, Experts Say
Nov. 17–Mutual fund market-timing and late-trading scandals won’t wipe out individual investors like the accounting frauds at Enron and WorldCom did. But in a two-year parade of Wall Street misdeeds, the mutual fund industry has betrayed an alarmingly large number […]
Tokyo Stocks Tumble in Morning, Nikkei below 10,000
Tokyo, Nov. 17 (Jiji Press)–Stocks skidded lower almost across the board on the Tokyo Stock Exchange Monday morning, with the key Nikkei average falling below the psychologically important 10,000line to hit the lowest level in more than three months. After […]
Nikkei Tumbles below 10,000 on Heavy Selling
Tokyo, Nov. 17 (Jiji Press)–Stocks plunged across the board on the Tokyo Stock Exchange Monday, with the key Nikkei average falling below the psychologically important 10,000 line to close at thelowest level in more than three months. Renewed concern over […]
Individual Investors’ Selling Pulls Down Nikkei Average below 10,000
By Yuka Yamamori Tokyo, Nov. 17 (Jiji Press)–The key Nikkei average plunged below the psychologically important 10,000 line Monday, as individual investors turned to sell in view of a halt in buying by foreign players amid renewed worries over the […]
Threadneedle Selects Eagle To Underpin Investment Information Services Initiative
BOSTON and LONDON–(BUSINESS WIRE)–Nov. 17, 2003–Eagle Investment Systems Corp. today announced that Threadneedle Asset Management Limited, the third largest investment fund manager in the UK withGBP50 billion ($81 billion) assets under management, has selected Eagle to support its new Investment […]
Russia’s illness isn’t spreading to its neighbors AROUND THE MARKETS
Apparently, it’s not contagious. In a contrast with 1998, when a financial crisis in Russia spread symptoms through other developing economies, the arrest of Mikhail Khodorkovsky, the head of the oilcompany Yukos, seems to have been quarantined fairly effectively. While […]
Mutual Fund Execs Who Quit Getting $69M
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 […]
Market mover: Gold
Is this a modern-day gold rush? The price of bullion jumped to its highest level since March 1996 last week as speculators continued to chase commodities. Gold has been a good performer this year,rising from $351 per troy oz in […]