Word: mutuals
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With the funeral march of negative headlines--dwindling corporate profits, massive layoffs and a slowing economy--it's no wonder many budding investors are probably balking at buying even one mutual fund. Making a $2,500 investment in a declining market may seem like dropping money into a grave. But here's a way to resurrect your sinking spirits: think small. You can invest in a stock fund for a few hundred dollars or less...
Hundreds of other inexpensive funds pop up on the Mutual Fund Education Alliance's website www.mfea.com) Look at the listings under "Funds for $50 or Less" and "Lowest Minimum Investment." But remember: you don't want to throw money at a fund just because you can get in on the cheap. You still need to look at expenses (they should be less than 1.1%) as well as at the fund's long-term performance, strategy and fund family. Stashing money away in drips and drabs builds discipline for investing. And even though there may be more bad news to come...
GAINING ON GOLIATH Exchange-traded funds are growing rapidly. In December they attracted nearly as much new money as mutual funds, which netted $11.6 billion. ETFs are relatively new pooled investment vehicles, whose shares can be traded throughout the day. Total assets doubled last year, to $72 billion. Impressive but pocket change compared with the $7.2 trillion invested in U.S. mutuals...
...Still, it's probably safe to say the hijackers are Chechen sympathizers, as the ferryboat hijackers were in 1996. There is a strong and passionate Chechen diaspora community in Turkey, which has often caused problems for the Turks before. It's not exactly a mutual admiration society, even though Istanbul is probably one of the largest centers of the Chechen diaspora, the other major one being Jordan...
...newly formed Boston After School for All Partnership--which will be announced at a press conference at noon today--will match the financial and education resources of the University with 11 other partners, including United Way of Massachusetts Bay, Liberty Mutual, Verizon, the Nellie Mae Foundation, and FleetBoston Financial...