Word: mutually
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Dates: during 1990-1999
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...millions of Americans who have poured a record torrent of their hard- earned cash into mutual funds, this should be the best of times. Last Thursday the Dow Jones industrial average went over 3700 for the first time ever, bearing with it the yields on many stock and bond funds. The average aggressive-growth fund has risen 29% in the past 12 months. Corporate-bond funds gained 13% overall. Commercial banks, fully aware how anemic their certificate-of-depo sit rates look in comparison, are actively luring customers into the wealth-generating world of funds. As a result, mutual funds...
When the bulls are running, that's all well and good. But what happens if the market heads south, in the kind of correction some analysts think might happen soon? Much of the money that has flooded into mutual funds could flood back out, transforming an otherwise modest correction into a rout. "The money that's in there is nervous money," frets Rubin Bergay, a retired Anaheim, California, engineer who is heavily invested in funds. "There's no doubt the interest in funds is governed by the low CD rates, and I'm very concerned that investors will take...
...politicians and regulators in Washington. Henry Gonzalez, the Texan who chairs the House Banking Committee, last month submitted a bill that would require banks to sell funds in areas separate from teller windows; Gonzalez also wants banks to require customers to sign a statement that they understand that mutual funds are not insured, thereby lending the force of law to federal guidelines already on the books. Representative Edward Markey, who chairs the finance panel of the House Energy and Commerce Committee, is preparing a bill to tighten standards on mutual-fund management and advertising. "Mutual funds are a lot like...
...correct fund, or one managed by astrologers, or a venture capital fund that invests in companies owned by women. A California money- market fund offers frequent-flyer miles at the rate of one mile for every $10 invested for one year. Americans have poured more than $80 billion into mutual funds so far this year, already surpassing the record $78 billion for all of 1992. That has raised the total assets of U.S. funds to $1.9 trillion, an amount equal to the gross domestic products of France and England combined...
...1970s. Even low interest rates have a downside: they not only hurt retirees and others living on investment income, but they also encourage millions of Americans to shift out of federally insured bank accounts and certificates of deposit into potentially more lucrative -- and certainly more volatile -- equities and mutual funds. The long predicted -- and long postponed -- stock market correction could hit personal savings hard...