Coining the hybrid Fedpositioning on interest rate hikes, a news obituary for a reclusive billionaireand encouraging investment advice for millennials who might be concerned aboutreturns on retirement savings.
U.S.Attorney Preet Bharara's prosecution of Wall Street players follows in a lineof district attorneys who have served in an office noted for its independenceand legal innovation. The New Yorkermagazine profiled Bharara, who the article said has a gift for public relationswisecracking and shtick. He was known for inaction following the investigationsresulting from the financial crisis, and then earned a reputation as thescourge of insider trading.
The Federal Reserve would like to adopt a hawkish stance oninterest rates but takes a dovish tone to appease dissenters and thoseconcerned about global economic growth, notes Kevin Mahn, chief investmentofficer of Hennion & Walsh Asset Management. Mahn chose "hovish"as the term to describe the Fed's hybrid state of positioning in an article forYahoo Finance. He forecast up to three rate hikes for 2016.
A patriarch for one of the nation's wealthiest families diedin near anonymity when Michael Karfunkel passed away. TheJewish Daily Forward published a news obituary on the reclusive, deeplyreligious billionaire head of National General Holdings Corp. He and brother GeorgeKarfunkel co-founded AmTrustFinancial Services Inc.
With the rise of automated investment services offeringbasic asset management for a low cost, TheNew York Times analyzed the merits of so-called robo-advisers. The federalgovernment has given a tacit nod to the service, which has raised $53 billionin assets under management in just a few years. However, some regulators wonderif the advisers are thorough enough when gathering information from investors.
Warren Buffett has told those who ask for his investmentadvice to do the opposite as he has, Yahoo Finance said in an article publishedon the eve of Berkshire HathawayInc.'s annual shareholder meeting. The news outlet neverthelessassembled some of Buffett's insights that might be applicable to the averageworker looking to invest for the long term.
A Bloomberg Gadfly column offered an encouragingcounterpoint to a report from consulting firm McKinsey dooming millennials to alonger working life due to expected low retirement returns. While the outlookon stocks in the U.S. and Europe are not encouraging, investment opportunitiesexist in other parts of the world, the blog post said. Besides, expectedreturns on Western stocks are known to fluctuate over time.