Word: mutuals
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...heard of so-called socially responsible mutual funds; now comes one that's just the opposite, with its holdings concentrated in alcohol, tobacco, gambling and military contracting. Mutuals.com a money manager based in Dallas, calls its new investing vehicle the Vice Fund. And its strategy is no joke. Over the past five years, stocks from the sectors represented in the Vice Fund have, in aggregate, appreciated about four times as much as the S&P 500--and nearly 11 times as much as those in the Domini 400 index of socially responsible stocks. While more than 90% of the Vice...
...said to specialize already in Relational Disorders--in creating them and making them worse--the prospect of such a fuzzy diagnosis must look like a row of cherries on a slot machine. By clouding the notion of personal responsibility even as the classification opens up vast new realms of mutual and collective liability, RD, as it will inevitably be referred to on daytime-TV talk shows, may generate even more in legal fees and damage awards than in insurance reimbursements...
...glimpse of what lay ahead for them--just as a widow of the 1988 Pan Am 103 bombing had once done for her. "It's amazing to me how quickly you can talk to someone you don't even know," Leonard says. The two talk for hours, sometimes in mutual tears, signing off with the words "I love...
...hadn't been live on the air, purportedly delivering television commentary on the Open for Italy's Tele+ cable network. This, however, was typically digressive banter from Clerici, 72, and Tommasi, 68. An announcing tandem for more than 20 years, they fill their broadcasts with more random ruminations, mutual dissing and off-color commentary than Rosencrantz and Guildenstern. "Even people who don't like tennis will watch them to hear what outrageous things they're saying and doing," says Rita Grande, an Italian currently ranked 36 on the wta Tour. "They are so funny?at least if you have...
Investors have been net sellers of stock mutual funds most of the summer. Yet in this abysmal market their love affair with exchange-traded funds, or ETFs, has truly bloomed. In June and July combined, stock funds saw estimated outflows of $60 billion, while ETFs had inflows of $11 billion. What gives them such allure? All the things that suddenly matter when markets turn rocky: diversification, tax efficiency, low costs and portfolio visibility that would make most fund managers blush...