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Skeptical Debunker

In Past Decade, American Funds Created Most Wealth - Yahoo! News - 0 views

  • Morningstar determined that Janus and Putnam were the two largest "wealth destroyers" during the decade, losing $58 billion and $46 billion, respectively. "Janus and Putnam rode the growth wave more than anyone else," Kinnel says. "They had some very aggressive funds that put up big numbers that got huge inflows." After the tech bubble burst, the funds that were most heavily invested in these types of holdings experienced huge sell-offs, which made it difficult for these funds to attract inflows through the remainder of the decade. According to Morningstar, American Funds created about $191 million in wealth for investors during the decade, followed by Vanguard and Fidelity. Since American Funds generally employs a more value-oriented strategy, the firm was largely able to avert the first bear market of the decade. "The 2000 to 2002 bear market was all growth and tech, and American barely touched that, whereas they had lots of value, dividend payers, and bonds, which did very well," Kinnel says. Recently, the tables have turned for American. In 2009, it lost the most of any fund family (more than $25 billion). No fund family, including American, was able to avoid the bear market of 2008. The same strategy that allowed American to bypass most of the first bear market failed because many well-known dividend-paying companies, like big financial firms, experienced huge losses.
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    In a decade with two bear markets and lackluster returns for many investors, American Funds created the most wealth for investors, while Janus destroyed the most wealth, according to a survey released by Morningstar. For the survey, Morningstar looked at the 50 largest mutual fund families and their total net assets at the end of 1999. Then the fund tracker subtracted each fund company's total cash flows over the decade and deducted their total net assets at the end of 2009. Numbers were calculated in dollar terms so that any funds that were liquidated during the decade would also be included.
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    Get this! Mutual funds, where most American's have their 401Ks, IRAs, and retirement savings, performed pitifully in the "great economy" of the 2000's (brought to you by Republican deregulationists starting with Ronald Reagan). The "best" made $191 million (but lost $25 billion in 2009!), the worst lost around $50 billion! What a great way to transfer all that hard earned savings, mostly by the "little guy", from them to the Wall Street gamblers. Another socialistic Republican "redistribution of wealth" of the corporate criminal rich, by the corporate criminal rich, and for the corporate criminal rich.
sonamp

Accurate Share Tips For Beginners - 0 views

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    Investing can be confusing, especially for the beginner be it mutual fund investment, real state investment, capital investment, investment in equity share, oil share investment or bond investment.
Levy Rivers

Obama's Business Backers Look Ahead - BusinessWeek.com- msnbc.com - 0 views

  • In addition to Logan, they include Valerie Jarrett, CEO of real estate management firm The Habitat Co. and now co-head of Obama's transition team; Jim Reynolds, CEO of investment bank Loop Capital Markets; John Rogers, CEO of mutual fund icon Ariel Investments; Quintin Primo III, CEO of commercial real estate development company Capri Capital Partners; and Frank Clark, CEO of electrical utility Commonwealth Edison.
  • Later, during his second year in the U.S. Senate, Obama called Clark, among others, to discuss whether it made sense for him to mount a bid for the Presidency. Clark, 62, is one of Chicago's elder statesmen and chief of ComEd, a subsidiary of energy giant Exelon (EXC) and the largest electric utility in Illinois, serving nearly 4 million customers in Chicago and Northern Illinois. He didn't mince words: "Your window of opportunity is now," Clark recalls saying. "Go do it."
  • "Our generation has been limited in terms of how far we can dream," Logan said on Tuesday night just minutes before Obama took the stage. The son of two teachers who worked on Chicago's South Side, Logan majored in accounting and economics at Florida A&M University, a predominantly black college, and later earned an MBA in finance from the University of Chicago. "We've too often been under the impression that we can only serve our own. We've had constraints applied to what we can achieve."
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