Over 150 mutual funds that are closed to new investors continue to charge extra fees for marketing, says Standard & Poor’s, an independent investment research firm. The notorious fees, known as the 12b-1 fee after the securities law section that regulates them, are supposed to be used by mutual fund companies to market their funds to the public. However, funds […]
Month: January 2004
Are Wall Street’s talking heads reliable?
Every day that the stock markets are open, a host of TV, radio and print sources tell us what the market is doing and, more importantly, claim to tell us why. Oh really? Is it that easy? CNBC and Bloomberg News and the market wrap programs on every radio show seem to make that claim. We hear one day that […]
Client Letter – Q4 2003
Happy New Year! After reviewing my clients? performance reports, I am almost speechless (which is a rare occurrence)! This past year will surely go down in the record books as one of the best ever, especially for well-diversified investors. But, before we get too excited, let’s see if there is something we can learn from the events of 2003. Take […]