Word: monday
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...calculation does not include gains that some of the funds may have made in Monday's rally, but analysts say those won't be nearly enough to make up for the hundreds of billions of dollars that the funds are down. "The losses should concern every investor because these are supposed to be the smartest guys out there," says Charles Gradante, co-founder of hedge-fund advisory firm Hennesse Group. "If they can't manage their investments, how is an average person with a 401(k) supposed to cope...
...Capital, which is down 9% this year, has reportedly put half its fund, or $7 billion, in cash. The move to cash makes sense, says Gradante, for the current market. But it may hurt funds over the long haul. "If stocks rebound rapidly, like they did on Monday," says Gradante, "these funds will continue to disappoint investors...
None of that, evidently, has changed the equation for Berlusconi. At Monday's White House ceremony, the Italian Prime Minister gushed with praise for his host: "I've been honored over these years by the possibility of cooperating with you. I've found in you a man of great ideals, great principles, a man of vision." He continued: "And it was always easy for me to share your ideas, to share your visions, to be next to you, to stand next to you, because we are always bound by these common love for freedom, love for democracy, respect...
...Monday night's official White House dinner, replete with Maine lobster and Reggiano ravioli, Berlusconi was waxing nostalgic as the President's reign nears its end, declaring that he and Bush will "remain friends forever." Whether the pair continues to meet up in Crawford to review their triumphs is up to them. But their place in history is one judgment beyond their...
...scores of companies they have since cited for violating safety rules, about 80 have been named in U.N. and human-rights reports as known arms shippers. "About 53 companies have been forced to close down," according to Griffiths, who released his findings in a report on Monday. Griffiths says enforcing similar rules against ships could put several arms traffickers out of business entirely. Until then, if you need weapons in Africa, "there are plenty of arms out there - so long as you have the money to pay for it," he says...