The SEC yesterday charged Nashville-based broker/dealer Morgan Keegan for misleading thousands of investors about the risks of auction rate securities (ARS). Further, the SEC alleges that the firm pushed illiquid auction rate securities on...
Morgan Keegan & Co., a unit of Regions Financial, Morgan Asset Management and three employees each received a “Wells” notice from the SEC, the company stated in a Form 8-K filed by Regions on July 9.
The average global active manager beat his benchmark over the last 10 years. So did the average fund manager in a few other style boxes. But global managers may have a better arsenal to keep the trend going.
The Department of Labor and the SEC are holding a joint hearing today in Washington to explore “issues” related to target date/lifecycle funds. Many of these funds actually underperformed the S&P 500 last year. You can watch the...
At the Investment Company Institute’s 51st General Membership meeting last week in Washington, D.C., speaker after speaker warned that the financial crisis has changed markets permanently.
Whenever investors proclaim the death of an investing strategy, it’s often a buy signal. During the first 11 months of the year, Bill Miller's Legg Mason Value (LMVTX) lost 58 percent, more than 20 percentage points behind the S&P 500...
In an article titled Retirement Casino, on p. 46 of our November 2008 issue, we made an error. In the graphic of an excel spreadsheet on that page, in the row corresponding to Retirement Alpha, the equation should read (2*(D14 +2*H16)/(D15^2 + H16...
Regulators typically offer a “settlement premium” that is meant to represent a discount on sanctions they would seek at a hearing or trial. Is it worth it?
