Word: mutually
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Pusey did not choose the building, though he clearly likes its modern look: Deveraux C. Joseph, the head of New York Mutual Life and a member of the Board of Overseers, owned the building when Pusey moved to New York and secured the apartment...
...fact, in a typical corporate election, most shareholders trust the incumbent management to cast votes for them by proxy. In general, shareholders don't even know they have voted, since even the decision to let someone else decide is made on their behalf by mutual-fund and pension-fund managers. Obviously, huge blocks of votes are easier to count than individual ballots. Only the government would think to insist that every voter cast his or her own individual ballot, thereby making the process of counting them so needlessly onerous and prone to error...
...investor psychology, it has turned circus-freak ugly. Not a serious buyer in sight. Cash is piling up in money funds, which stand at a record $1.8 trillion. Cash at stock mutual funds equals 5.3% of assets, up from 4% in March. Yet to bulls, these stockpiles represent buying power ready to push prices higher. "I've never seen so many people on Wall Street talking to so many other people on Wall Street trying to figure out what's happening," confesses John Manley, a market strategist at Salomon Smith Barney...
...barely acquainted. Some are as excited about discussing their sex life--or someone else's--as they are about letting you know where they found a pair of Manolo Blahnik shoes for 50% off. But they will rarely reveal how they cut their credit-card debt, chose the mutual funds in their 401(k) or put a budget together after their divorce. Discussions about money and investing are "too personal," or at least they used...
...fund through one of more than 550 community foundations or through one of the newer charities being launched by most major mutual-fund behemoths. They have similar starting balances and management fees. Community foundations have been around for more than 85 years. Visit cflocate.com to find one in your area. They're more flexible than the Fidelitys of the world, when it comes to accepting illiquid assets like real estate and art. But their biggest advantage is that they know--and live in--the community they serve. In contrast, a charity fund like Fidelity's has the online advantages...