Word: mutuals
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...passing on the nation's shared civic heritage, from George Washington to George Washington Carver. Public schools have the ability to teach democracy simply by being open to all children, and regarding them--and their backgrounds and religions--as equally worthy. "Nobody claims private schools can't teach tolerance, mutual respect and nondiscrimination," says Princeton political science professor Amy Gutmann. "But in public schools, they are taught as much by the mixing of students as they are by the curriculum...
...advent of the euro has further heightened competition by eliminating the currency risk for investors, so that French mutual funds can safely invest, for example, in German companies for the first time. But another important effect of the same development is that European companies are all coming under increased pressure to improve their share performance for international shareholders regardless of local circumstances--even those that don't face global competition. "There's tremendous pressure from institutional investors who have seen the positive effects of shareholder power in the U.S. and are demanding similar moves in Europe," says Manfred Kets...
FUND FEES ADD UP No matter how much cash Americans plow into mutual funds--$5.5 trillion at last count--most still can't get a handle on what they're paying managers to run them. So last week the SEC introduced an interactive calculator www.sec.gov to show how those confounding fees--front-end loads (sales-charges), expense ratios--add up over time. Two $15 billion large-growth funds--one load, one no-load--can generate very different costs. Use the calculator to help find out if your fund managers are worth the price...
...field is just exploding," says Virginia psychologist Everett Worthington, director of the Templeton Foundation Campaign for Forgiveness Research. He should know. His organization, set up by mutual-fund magus Sir John Templeton, has distributed $5 million to scientists studying, among other things, forgiveness among chimpanzees and its physiological effects on the pulse and the sweat glands of humans. A number of psychotherapists are testifying that there is nothing like it for dissipating anger, mending marriages and banishing depression. Just a few years ago, says Robert Enright, a psychology professor at the University of Wisconsin and a pioneer in the scientific...
...your most valuable asset--your career--is also tied to the health of your firm. If you're over age 55, your employer may allow you to sell some of its stock held in your 401(k), so be sure to ask. In your taxable accounts, lean toward diversified mutual funds, or individual stocks in at least six industries--and avoid the one in which you work. If you are concentrated in a single stock in a taxable account--and are not wealthy enough to join a swap fund--you'll have to pay capital-gains tax as you diversify...