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...fund this year, according to Morningstar. However, S&P believes the fund's "volatile longer-term performance should give investors cause for concern." It noted that the fund significantly lagged its peer average in 2007 and 2008, pushing it into the bottom quartile on a three- and five-year total return basis. Also, S&P analysts contend the fund's securities are currently overvalued and pose risk based on their growth and consistency when it comes to historical earnings and dividends. It also cited the fund's cost factors as contributing to the fund's weaker ranking...

Author: /time Magazine | Title: Many Mutual Funds Are Up 50% in '09 — but Beware | 12/7/2009 | See Source »

...charges against eight people accused of recruiting young Americans to join an Islamist insurgency in Somalia. Officials say the ring persuaded about 20 Minneapolis men, most of them Somali natives, to fight alongside al-Shabab, a militant group linked to al-Qaeda. At least six fighters were killed. A total of 14 men have been charged in the case...

Author: /time Magazine | Title: The World | 12/7/2009 | See Source »

...just the fortunes of one war-torn country are at stake. Researchers believe that Iraq's untapped oil reserves total at least 115 billion barrels - the third largest in the world. When fully developed, Iraq's oil industry could significantly boost global crude supplies and even bring down oil prices. Tapping Iraq's oil is an industry event of historic proportions, says Alex Munton, a Middle East analyst at global energy consultancy Wood Mackenzie. "There are very few examples in history you can point to and say, 'A similar thing happened there,' because there really have not been...

Author: /time Magazine | Title: Pump It Up: The Development of Iraq's Oil Reserves | 12/7/2009 | See Source »

...South Korea's Kogas. ENI was quickly followed by ExxonMobil and Royal Dutch Shell, which agreed to produce about 2.3 million barrels a day in another giant field called West Qurna. Combined with BP-CNPC's anticipated output from Rumaila, "those three fields alone would be about 6% of total oil production in the world" when output targets are reached, says Munton, the Wood Mackenzie analyst. (See pictures of the Exxon Valdez disaster...

Author: /time Magazine | Title: Pump It Up: The Development of Iraq's Oil Reserves | 12/7/2009 | See Source »

...Fresh from a trip to Baghdad, Yves-Louis Darricarrère, who heads global exploration and production for the French energy giant Total, told TIME in early November that oil executives all feared being left out of the rush. "Iraq is extremely important for the industry and for world supply," he said. Even though Total dropped its bid in June for one of Iraq's fields, it is now considering several others on offer in a second round of bids, which Iraq's government has scheduled for mid-December; Iraqi oil officials say they expect about 45 companies to compete...

Author: /time Magazine | Title: Pump It Up: The Development of Iraq's Oil Reserves | 12/7/2009 | See Source »

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