Word: mutuals
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Dates: during 1990-1999
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...integrated to form personal and professional relationships which will broaden the knowledge and character of each student in all the separate schools. The attempt by the Business School Alumni Association to buy the election by supporting their candidates is an indication of the need to promote ethics and mutual understanding in all groups in society. The flap caused by their indiscretion should serve as a lesson to the business community which as a whole dominates the Overseers. Alumni throughout the country are asking more of the Overseers. They see the need for a new and better Harvard. That...
...starters, you can send the money over the Internet encoded in an E-mail instead of sending a check. This saves you the trouble of balancing the checkbook at the end of the month, and it gives you the option of transferring the money from wherever you want: mutual fund, money market, even an old-fashioned checking account. Your daughter can store the money any way she wants--on her laptop, on a debit card, even (in the not too distant future) on a chip implanted under her skin. And, perhaps best of all, you can program the money...
Sanford is a complex, brilliant figure in American finance and someone to know if you care to comprehend why your bank just got gobbled up or why your mutual-fund company has begun offering a hundred new ways for you to invest your money. He popularized the notion of risk management, one of the most important ideas in modern finance. He didn't come up with the notion (credit academia), but more than anyone else he helped pioneer a new kind of risk-aware investing that offered a first glimpse of a world of high-wire, high-tech finance...
...genie was out of the bottle. Derivatives have changed the rules of the game forever. Average investors who are now pouring money into mutual funds and stocks will soon have access to hundreds of other investment options. Think of the world as a landscape of opportunity--everything from distressed Japanese real estate to Russian oil futures--marketed and packaged by giant banks like BankAmerica or by fund companies like Fidelity Investments and the Vanguard Group. "This is like the automobile's coming," says Sanford. "We'd always had transportation--people walked, eventually they rode donkeys--but the automobile...
...just the target's. So you can do well owning the buying bank--say, a NationsBank, First Union or Chase Manhattan. In many cases, that will be the better long-term investment anyway. But I'd also consider simply plunking some money in a well-run regional bank-stock mutual fund like Fidelity's or John Hancock's. Both are up more than 55% in the past 12 months. There are still some 9,100 banks out there. A fund gives you broad exposure to the deal mania that has been lifting the industry for years...