Word: mutually
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...This is a new idea in a nation where our most iconic economist, Milton Friedman, wrote in 1970 that a corporation's only moral responsibility was to increase shareholder profits. Since 1995, the number of socially responsible investment (SRI) mutual funds, which generally avoid buying shares of companies that profit from such things as tobacco, oil or child labor, has grown from 55 to about 260. SRI funds now manage approximately 11% of all the money invested in U.S. financial markets - an estimated $2.7 trillion...
...even with federal assistance, the California fiscal crisis - and in particular July's $1.9 billion raid on local government finances to help balance the state budget - could threaten the system of mutual aid between fire departments across the state. For example, several fire departments in northern California went south to help out with the Angeles National Forest blaze. As the fire season continues, however, budget cutbacks may force some local fire departments to stop participating in mutual aid. "Local agencies may have no choice but to hold back. A fire department's first responsibility is to protect the home front...
...Armenian monuments at the ancient site of Ani is underway. "Once trade, human interaction and dialogue begin, finding common ground on more complicated issues will become easier," says Aybars Gorgulu of the Istanbul think tank TESEV. It will take time for Turkey and Armenia to overcome decades of mutual distrust. But the announcement of new peace talks is the first step in a long overdue healing process...
Stock prices usually reflect underlying value. But stocks can also be affected by things like summer vacations among hedge fund managers, or by late-December window-dressing by mutual-fund managers who want to have the hot performers in their portfolio at year's end. Brian Belski, chief investment strategist at Oppenheimer, tells TIME's John Curran why these seasonal tea leaves are now bullish...
...there's good seasonal karma right through December? In this seasonal scenario, December actually turns in the strongest performance, on average. There's a bit of seasonality to that too, since in a rising market you will typically see mutual-fund managers rush to add hot stocks to their portfolio at the end of the year so it shows up in their portfolio statements. There's much more performance pressure on money managers today than there used...