10 Key Business Trends Data Points for Today
Does Alpha-Beta Spell `The End' for Mutual Funds? Mutual funds may soon be obsolete...a commentary by Chet Currier on Bloomberg. That's a strange argument to make in the very year that U.S. assets of the funds, one of the most popular and successful products in the history of investing, reached $10 trillion. The total is 10 times what it was at the start of the 1990s, less than two decades ago. And growth lately has been even faster in other parts of the world. Worldwide fund assets verge on $20 trillion, according to the Investment Company Institute.
Blankfein Is Eligible for $87 Million Bonus After Record Profit
Blankfein can get more because a compensation plan approved by shareholders earlier this year allows the firm to pay as much as 0.6 percent of pretax earnings to each of its 25 top executives. That works out to $87.4 million apiece, based on Goldman's $14.6 billion of profit before tax. Shareholders also eliminated a $35 million cap on bonuses paid in cash and stock. (Bloomberg)
Strategists Alarm Investors With Unanimous Call for 2007 U.S. Rally
Strategists at 12 of the biggest Wall Street firms agree that U.S. stocks will rally next year. The last year that happened was for 2001, when the Standard & Poor's 500 Index dropped 13 percent. (Bloomberg)
on Equities Remains at Eight-Month High, Merrill Survey Shows
Merrill's poll of 210 fund managers, who together manage $713 billion, was conducted between Dec. 8 and Dec. 14. A net 53 percent of respondents expect the world economy to weaken in the next 12 months. A greater majority, 83 percent, believe a recession is unlikely. A net 34 percent of respondents questioned by Merrill were overweight European equities, down from 38 percent in November. The value of mergers and acquisitions worldwide reached $3.5 trillion in 2006, according to data compiled by Bloomberg.
Activity Near Record High As Buyout Firms Don't Let Up
Wall Street Secret: Hedge Funds of Funds Barely Beat T-Bill Returns
Pennsylvania's 200,000 public employees are paying Morgan Stanley some of the money-management industry's steepest fees to get returns that aren't much better than yields on U.S. Treasury bills. The Vanguard 500 Index Fund, which levies a 0.16 percent fee to track the Standard & Poor's 500 benchmark index of U.S. stocks, has returned 16.3 percent through Dec. 15.
Report: U.S. Nov. PPI rises 2% on price gains for energy, cars
at U.S. Retailers Rose 2.4 Percent Last Week, Smallest Gain in Month
Sales at stores open at least a year rose 2.4 percent in the week ended Dec. 16 from a year earlier, the International Council of Shopping Centers and UBS Securities LLC said in a statement today.
AT&T'S $86 billion bid to buy BellSouth may face several conditions after a Republican FCC member said he won't vote on the deal due to ethical concerns (WSJ)