Word: mutuals
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...their fiscally conservative corporate parents and share some risk. Some financial whizzes matched supply with demand and came up with a new way to bankroll films: institutional investors could take a portfolio approach to film financing and buy a stake in several of a studio's films, like a mutual fund of movies. The goal was to share in the typically 13%-18% annual rate of return that studios enjoy, with hits outweighing duds...
...scariest thing to average folk: one of the nation's biggest money-market mutual funds, the Reserve Primary, announced that it's going to give investors less than 100 cent on each dollar invested because it got stuck with Lehman securities it now considers worthless. If you can't trust your money fund, what can you trust? To use a technical term to describe this turmoil: yechhh...
...short selling, the aggressive practice of betting on a stock's fall without first borrowing shares. But that did nothing to quell widespread speculation about which struggling financial institution would be the next to disappear. British bank Lloyds was in talks to buy beleaguered U.K. mortgage lender HBOS. Washington Mutual, the U.S.'s largest thrift, put itself up for auction, and Wells Fargo and Citigroup might be interested, according to reports. Morgan Stanley appeared to be on the table too. There were murmurs the investment bank was holding conversations with Charlotte-based bank Wachovia. Chinese conglomerate Citic Group, owner...
...volatile days and weeks, and timing the market is a crapshoot, even for the pros. The ability of ordinary investors to move in and out of investments at the right moment tends to be pretty bad anyway. A longitudinal study by the research firm Dalbar shows that as mutual-fund investors increase the length of time they hold their funds, they do better relative to stock and bond indexes. "Our emotions are backward-looking, but the market is always about what's going to happen," says David Yeske, a financial planner in San Francisco. So no running for the exits...
Money invested in a variable-rate annuity goes into mutual-fund-like sub-accounts, which are walled off from the general account the insurer uses for its other obligations. It's like having a set of mutual funds at a broker: SEC regulations apply, and AIG's creditors can't tap those assets...