Word: investors
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Dates: during 2000-2009
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...guru Bill Gross says the days of falling interest rates (and rising bond prices) are over. Real estate--the kind you live in as well as publicly traded trusts that invest in malls, offices and apartments--will stumble if, as expected, interest rates move higher. So what's an investor...
David Darst, chief investment strategist at Morgan Stanley's Individual Investor Group, argues that with the dollar's weakness, "you need something international to generate currency gains." Consider an unhedged international bond fund like Pimco Foreign Bond or T. Rowe Price International Bond. They pay a fixed income, which rises as the dollar falls and vice versa...
...Though lately the press has focused attention on the crackdown on corporate fraud--with WorldCom executives finally coming to trial, for example--he says everyday Ponzi schemes are more prevalent than ever. According to the nonprofit National White Collar Crime Center, $40 billion is lost every year to such investor swindles. Current low interest rates are making matters worse, Minkow says, because retirees on fixed incomes are more vulnerable to shysters who promise higher rates of return. At the same time, the national run-up in real estate prices gives many people a way to tap extra cash, often through...
Some of the smartest scam artists, Minkow explains, target groups united by religion, race or ethnic origin. From 1998 to 2001, at least 80,000 people lost $2 billion in religious-investor frauds, according to the North American Securities Administrators Association, a group representing state regulators. In fact, most of the eight major frauds Minkow helped uncover in the past year have involved hustlers trying to sell investments to church groups...
Minkow knows how to play that gig. He went undercover after getting a call from a prospective investor in a pair of Southern California investment schemes and, posing as someone with extra cash to commit, found enough evidence to allow the Securities and Exchange Commission to shutter the firms in November. They allegedly had conned nearly $26 million from more than 1,200 people, largely by targeting church-affiliated African Americans. In 2003 he managed to shut down another scheme, a California operation that targeted retirement funds worth $813 million. "Barry has a lot of insight into the many ways...