Word: funds
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Dates: during 1990-1999
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...Virtual Smoke-Filled Room built out of calls and faxes and 300 e-mails a day. And all the while, Prince George stayed home, breaking all the rules of politics and inventing his own. He went nowhere near Iowa or New Hampshire, gave few big speeches, held no fund raisers, cruised to a crushing re-election victory in Texas and pulled in more than $7 million just in the month after he announced he might...
...Harvard and Andover. He and Rove appealed to the old hands in a new way: he actually asked for their opinions before he asked for their money. He questioned them about the political landscape, about the other candidates' strengths and weaknesses, about policy--the kind of intellectual stroking that fund raisers don't normally get. And Bush's team set out to pull in a whole new cadre, people who hadn't been interested in politics before because it was an old man's game, who had watched the Democrats anoint the baby boomers in 1992 while the G.O.P. grayheads...
...such developments are nothing compared with what's taking shape in the mutual-fund industry. Coming your way: intraday fund pricing and active trading of stock funds similar to what goes on daily with individual stocks. Already, mighty Fidelity Investments prices its 38 industry funds and their $20 billion in assets every hour, though it discourages frequent trades by assessing redemption fees. Virtually all other funds are priced just once a day, at the market close. But stepping up to twice-a-day pricing, at the least, seems likely. And with today's computing power, minute-by-minute pricing...
There are plenty of issues that the fund industry must sort out, such as how day trading of stock funds would influence long-term investors. Rapid trading could force fund managers to keep more cash on hand, hurting long-term results. For that and other reasons, the fund industry hasn't embraced the notion. But neither did the stock exchanges embrace No-Doz hours--until day traders demanded time to pursue their addiction at home. And neither did Merrill Schwab and Charles Lynch expect to be so much alike that you might confuse their names. These things happened because individuals...
...choice. But the fund industry may have overdone it already with 6,343 U.S.-based stock funds. A fund, at its core, is about easy, one-stop diversification. Yet many investors might as well buy individual stocks for all the fund options they feel obliged to consider. Recognizing how complex the world has become, influential fund tracker Lipper Analytical Services will expand its stock-fund categories this autumn from eight to 14. It's not just that there are more and different kinds of funds. Many managers, seeking to beat the market, stray from their investment styles. Lipper...