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...Angel, associate professor of finance at Georgetown University. He says the rate of short selling has nearly doubled in the past five years, to 36% of all trades. In the same period, assets held in hedge funds, which are active short sellers, more than doubled, to more than $1 trillion...
...real target is the alternative minimum tax (AMT), designed years ago to prevent millionaires from avoiding tax, but now increasingly encroaching upon the middle class. Next year the AMT will raise the burden of 21 million taxpayers earning as little as $75,000. But to replace the $1.2 trillion that the tax would bring in over the next 10 years, something sacred had to go, and that's where mortgage deductions come in. Of course, not extending the recent tax cuts due to expire by 2010 (capital gains, estate, child credit) would do the same trick, economists say. But under...
...Derivatives Perhaps the most profitable and certainly the most arcane investments of the year were something called derivative securities. Derivatives -- abstractions of stocks, bonds and futures -- are a huge business ($4.5 trillion in contracts) but pose a danger to world financial markets because of lack of regulation. As such, they are often called the junk bonds...
Fidelity Investments remains the 800-pound gorilla of the mutual fund world, with $1.1 trillion of assets under management. But fund companies like Vanguard and American Funds are growing faster, which is why Fidelity this week intensified its makeover by replacing the manager of its most visible fund, the $52 billion colossus Magellan. Market-lagging Robert Stansky, who had headed the fund since 1996, has been replaced by Harry Lange, former manager of the Fidelity Capital Appreciation Fund...
...disappearance of 43 Van Goghs, 174 Rembrandts and 551 Picassos. In Central Asia, children are believed to have been stolen from orphanages and killed for their organs. And money laundering accounts for up to 10% of the world's GDP, or as much $5 trillion...