In his influential book, Pioneering Portfolio Management, Yale University's chief investment officer, David Swenson, makes the case for illiquidity. Swenson notes that on Oct. 19, 1987, the day the stock market dropped by more than 22 percent, a...
With the securities firms forever searching for edgy products, it should come as little surprise that exchange-traded-fund (ETF) wrap accounts are growing in popularity. ETF wraps, which are less expensive than mutual funds, are seen by many as a...