Word: wraps
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...success. Start with Jurassic Park's fondness for huge, dangerous, pet-worthy creatures and its cunning use of special effects to make the fauna realistic. Add a dollop of Hollywood eco-mania, portraying the park owner as a predatory capitalist who would kill Willy for the insurance money. And wrap this around the summer's favorite icon: the fatherless boy who teaches everyone else -- surrogate parents, adult friends and a nearby cetacean -- how to be human. The movie hits every emotional button with a firm fist. It makes the phrase feel-good sound like a command from the industry...
...know what his future plans are," Thompson said. "He is resigning, but he has not given us an effective date--he said he wants to wrap up his cases...
...WRAP ACCOUNTS. By far the most popular pitfalls are the "wrap" accounts most brokerage firms now offer. Tens of billions of dollars have flowed into them recently. They come in a variety of shapes and sizes, but basically they say: Look, you're an amateur. We're pros. Why should you worry your little head trying to manage your investments? For just 3% a year, we'll take care of < that for you! And we won't nickel-and-dime you on commissions: we'll wrap all commissions into that one 3% annual...
...might expect from the stock market over a typical decade, an even higher share of the return you might expect from bonds. (Some brokers even apply the 3% charge to money held out on the side lines in money- market funds.) Worse still, all the income from a wrap account is taxable, but in most cases only a portion of the wrap fee will be deductible. So you could actually lose money, after taxes, by breaking even...
...FUNDS. The problem with throwing money into stock-market mutual funds -- everybody's doing it -- is just that: everybody's doing it. Maybe buying into the market at an all-time high will become the new way to get rich. But something tells me that even without the 3% wrap fee, people who've never invested in the market before shouldn't start now, at least not in any big way. But if you do start now, remember two things: 1) you can get professional management and diversification through mutual funds; 2) buy no-load funds, the ones that charge...