Tuesday, June 1, 2010

“Tuesday's Personal Finance stories - Marketwatch” plus 3 more

“Tuesday's Personal Finance stories - Marketwatch” plus 3 more


Five Filters featured article: Into the Abyss. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.

Tuesday's Personal Finance stories - Marketwatch

Posted: 01 Jun 2010 12:24 PM PDT

Message from Five Filters: If you can, please donate to the full-text RSS service so we can continue developing it.

MarketWatch's Latest Tweets

"Crude falls 2% to close below $73 a barrel http://on.mktw.net/9f11eP"
1:44 p.m. EDT, June 1, 2010 from MarketWatch

"Spill takes a big bite out of energy shares http://bit.ly/amP4dA"
1:12 p.m. EDT, June 1, 2010 from MarketWatch

"Crude and euro turn around Tuesday's declines http://on.mktw.net/9Jc6x3"
12:40 p.m. EDT, June 1, 2010 from MarketWatch

"BP: Damage inside well may have caused 'top kill' effort to fail http://on.mktw.net/d5Zn43"
11:56 a.m. EDT, June 1, 2010 from MarketWatch

"H-P to invest $1 billion in automation, cut 9,000 jobs http://bit.ly/9n4pWT"
11:10 a.m. EDT, June 1, 2010 from MarketWatch

Five Filters featured article: Into the Abyss. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.

Business, Personal Finance, Technology, Employment news ... - Austin American-Statesman

Posted: 01 Jun 2010 12:59 PM PDT

Message from Five Filters: If you can, please donate to the full-text RSS service so we can continue developing it.

Home > The Ticker > Archives > 2010 > June > 01 > Entry

Accused company agrees to abide by injunction

Officials of a New Braunfels company accused of securities fraud have agreed to abide by the terms of a state district court injunction, court documents show.

Retirement Value LLC and its president, Richard "Dick" Gray, and Chief Operating Officer Bruce Collins were accused in May by the Texas State Securities Board of fraud related to the sale of investments that are linked to death benefits from life insurance policies.

Retirement Value allegedly collected $65 million from more than 800 investors between April 2009 and February of this year, according to documents filed by the securities board and the Texas attorney general's office.

In a court filing this past Friday, Gray and Collins agreed to abide by the court's order that appointed a receiver for the company and ordered them from moving or concealing any of Retirement Value's assets, destroying any company records or selling any more securities. They were also ordered to have no contact with any investors or customers. Gray and Collins agreed to the order "without admitting or denying the findings," according to court documents.

The court-appointed receiver is Eduardo Espinosa of the law firm K&L Gates.

Permalink | Comments (0) | Post your comment

Post a comment

*HTML not allowed in comments. Your e-mail address is required.

Five Filters featured article: Into the Abyss. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.

Online Investing Tools Refine the Personal Touch - Top Tech News

Posted: 01 Jun 2010 11:55 AM PDT

Message from Five Filters: If you can, please donate to the full-text RSS service so we can continue developing it.

A year after the worst financial crisis in 80 years shook investors' confidence, mounting fear of contagion from Europe's debt crisis and rising market volatility offer fresh reminders of the need for greater vigilance. Investors and consumers may find it wise to adopt a hands-on approach in managing their personal finances and retirement accounts.

There is no shortage of resources for the do-it-yourself crowd. In its latest look at tools and technologies for individual investors, Businessweek.com examined nine Web sites that specialize in a range of areas, from actively managed investment portfolios and asset allocation advice to analytical stock research and personal finance. Whatever the topic, it is clear that there's a growing hunger for better ways to deal with money.

On kaChing.com, active investors get access to 16 different professional money managers. Their accounts can be as small as $3,000, vs. the minimum of $500,000 usually required by the managers' firms, and they pay ultra-low trading commissions because managers split commissions for each trade among all the clients who subscribe to their model on a pro rata basis.

Managers on kaChing get an investor IQ rating that takes into account how closely they stick to their stated investment style, their risk-adjusted returns [which weigh the performance of all their holdings separately), and the soundness of their investment strategy. An investor IQ must be at least 140 on a scale of 1 to 200 for a manager to be listed on kaChing.

This is a much more innovative Relevant Products/Services way to measure a manager's skills than what's provided by the mutual fund industry, where no one can see what transpires in a portfolio between quarter-end dates, says Andy Rachleff, kaChing's co-founder and chief executive officer.

The Downside to Five-Star Funds

"Lack of transparency leads to an inability to develop a compelling ratings system Relevant Products/Services," Rachleff says. "Without transparency, the only way to evaluate a mutual fund is on past returns, which aren't indicative of future returns," he says.

Once they have received a five-star rating from mutual-fund data Relevant Products/Services provider Morningstar, mutual funds on average underperform the broad market, says Rachleff. When the influx of money that often results from Morningstar's highest rating has to be put to work, it tends to get invested in stocks that fund managers are less convinced about in order to avoid 5 percent ownership in the equities they already hold. (Owning a 5 percent stake in a company requires a more detailed level of financial disclosure to the Securities & Exchange Commission.) (continued...)

© 2010 Business Week Online under contract with MarketWatch. All rights reserved.

Clark Howard Assigns You Personal Finance Homework - WSB-TV Atlanta

Posted: 31 May 2010 05:15 AM PDT

Message from Five Filters: If you can, please donate to the full-text RSS service so we can continue developing it.

Thirteen states now require students to take a personal finance class in order to graduate from high school.

Georgia is not one of them.

Consumer advisor Clark Howard took a look at one class that's available in Gwinnett County, and has a summer homework assignment for students who haven't taken personal finance.

Linda Brimmer, who teaches real life at Peachtree Ridge High School in Gwinnett County, wishes a personal finance class was taught at her school. Her class covers how to make a budget, how to read a contract, and how to deal with debt. In Brimmer's class, there are lots of questions.

Student Khali Hill said, "I know some adults in my family that have problems with finances, and I'm thinking, where was this class when they were in school?"

In Georgia, students learn a little bit of personal finance as part of an economics course, but it does not require students to take a financial literacy course.

Brimmer says that's a huge mistake. "I've had a lot of AP students that will tell me, I really want to take your class, but I don't have room in my schedule," said Brimmer.

A study by the National Endowment for Financial Education shows 89 percent of teachers believe personal finance should be mandatory in schools.

But many teachers don't feel qualified to teach it. They didn't learn it either. Consumer advisor Clark Howard says he can't change state law, but he can give you some summer homework. If you have a student at home, talk with him or her about budgets. If you need help, check out the follwoing websites that can help you set up your own curriculum.

Helpful links:

1) A parent's guide for how to raise a money smart child. http://www.jumpstart.org/assets/files/MoneySmart%20Child.pdf

2) University of California Irving offers a free online course about personal finance; access it here: http://ocw.uci.edu/courses/AR0102092/

3) Khan Academy offers free online video lessons. go to: http://www.khanacademy.org/ and look under this section: "finance"

4) Junior Achievement financial assessment: http://studentcenter.ja.org/Money/Pages/default.aspx

5) Online activities, quizzes and calculators: http://www.themint.org/try-it/index.html

6) Personal finance online games: http://www.indebted.com/the-game/debtski/

Five Filters featured article: Into the Abyss. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.

0 comments:

Post a Comment