Word: growths
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Dates: during 1990-1999
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...blame them, considering the sorry record of most fund managers? With less than 20% of active managers outperforming the market, it is understandable that last year, for the first time ever, asset growth in individual stocks outpaced that of funds at discount broker and fund supermarket Charles Schwab. Or that No. 1 Fidelity has been stepping up promotion of its brokerage services, as more customers have looked to open hybrid portfolios made up of stocks and funds. "This industry has grown so rapidly that there is a shortage of good managers," says Bridget Macaskill, CEO of Oppenheimer Funds. "But mutual...
...record pace last year, according to Lipper Inc. Once-high-flying firms such as Stein Roe, Pilgrim Baxter and Berger Associates are reassigning dud managers and hustling to attract new money. Says Stephen Cone, president of customer marketing at Fidelity Investments. "We're not going to see the phenomenal growth of the past, and that may be an alarm bell for smaller firms. Their jobs have got much harder...
...decade, more than half the 600 fund companies could disappear, as outfits with less than $50 billion in assets become ripe for the picking. With the big boys dominating the highly profitable institutional side of the business--401(k)s and other retirement plans--and much of the growth now coming from market appreciation, it will be hard for a second-tier player to shine...
...kindest thing I can say about those who, like gun advocate Lisa Bochard, think teachers should carry guns is that they are fools. Do you want your child taught by someone who is willing to shoot students? Would this kind of atmosphere foster learning and personal growth in America's public schools? NIKKI CUNNINGHAM Columbus, Ohio...
DIED. MEL TORME, 73, consummate vocalist known, to his dismay, as the Velvet Fog; of complications from a stroke; in Los Angeles. The son of Russian Jewish immigrants, Torme began performing at age four; his voice's preternatural lushness was due in part to a small second growth of tonsil after a tonsillectomy. His artistry, however, was earned, and appreciated by fans from 1940s bobby-soxers to 1990s alternative rockers. Of Torme's musical intelligence, bandleader Buddy Rich once remarked, "When Mel sings, it's like having another horn in the band." Torme played several instruments and was an arranger...