Word: investors
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Dates: during 1990-1999
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Moved PermanentlyMoved PermanentlyFortune Investor DataIt's a serious catch-up bid. America's largest stock brokerage is matching leader Charles Schwab's $29.95-per-trade rate (that's sans advice), and offering another plan of their own: $1,500 a year for unlimited trades and unlimited advice. Merrill's bigwigs are touting that plan as the best way to go, pointing out that you'll get more unbiased advice from a broker who doesn't work on a per-trade commission (and like most flat-fee programs, it's on average a good moneymaker for Merrill...
Moved PermanentlyMoved PermanentlyFortune Investor DataBrokerage houses, especially the smaller ones, aren't too excited about having to staff twelve hours of trading. The Mom-and-Pop e-traders, meanwhile, are slavering over the chance to do their trading when they're home from work and able to concentrate -- unless, of course, they've had a few with dinner. Or else they're leery, like many professional traders, about what all-day, all-night investment opportunities will do to their tickers. Kadlec says the plan's success all depends on how many of the former type get hooked. "There's after...
Moved PermanentlyMoved PermanentlyFortune Investor Data"People see 4.1 percent growth and they start thinking about inflation again, no matter how low it seems to be now," says TIME Wall Street columnist Daniel Kadlec. "And after yesterday's rally, there's a mood that this may be the last chance to get out." But that doesn't fully explain the run on the big Dow industrials, which have lately been favorites in times of trouble. Kadlec thinks some of that can be blamed on the holiday. "There's often a lightening of positions before a long weekend," he says, "so traders...
Warren Buffett, the investor and head of Berkshire Hathaway, noted some of these trends two years ago, when his Geico insurance subsidiary doubled its projected 4% profit margin because the number of claims was decreasing. Last year margins were well over the target again. Buffett warned that such stellar results would not persist because they would soon invite competition. That's what has happened, and now he expects the industry's margins to contract as insurers cut prices to battle for market share--bad news if you own the stocks but not if you're a policyholder...
Moved PermanentlyMoved PermanentlyFortune Investor DataThe overall outcome? Don't sweat it, folks. "Once they digest this news, the markets will go right back up," says TIME senior economics reporter Bernard Baumohl. "What they'll realize is that only once in recent memory did the Fed actually raise rates following a bias shift in that direction." Of course, this walk-on-water economy of ours hasn't given Greenspan cause to raise rates in quite a while either; the fear is that that could change. Baumohl says Greenspan, as always, will wait and see. "Those price numbers were just the whiff...