Word: mutuals
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Investors still stinging from last year's run of Wall Street and CEO lies now find they can't trust mutual funds either. Turns out the $6.9 trillion fund industry might be just as willing to jilt the little guy when monster fees are on the line. This revelation is a black eye for a business that so far has been largely scandal free...
...allegations center on one hedge fund, Canary Capital Partners, and its relationships with mutual-fund companies, including Bank of America's Nation's Funds, Banc One, Janus and Strong. Spitzer says the trail could lead to hundreds of mutual-fund companies. The Securities and Exchange Commission is investigating. The Investment Company Institute pledges full support of the probe...
...been overdone. Low-grade corporate bonds should do well. As the economy kicks in, you'll have a problem, but you can address it at that point. If the economy doesn't take off, you can stay in these bonds longer. I'd play it through junk-bond mutual funds...
...turns out, the feeling is mutual. According to one recent U.S. survey, a whopping 96 percent of consumers say they do not trust their HMO, 93 percent do not trust their health insurer and 88 percent do not trust their telecom provider. Which industry has the lowest mistrust rating? Only 60 percent say they mistrust their supermarket...
Murrey Marder, a 1950 Nieman Fellow who funds the project and was the chief diplomatic correspondent for the Washington Post, met Sussman through a mutual friend...