Economy & Markets
The important economic and stock market news that advisors need to know.
ABA Report: Fixed Annuity Bank Sales Total $4.1 Billion in Third Quarter
By Warren S. HerschFixed annuity sales by banks and other depository institutions increased by 3% from the same period one year ago, according to a new report.
December 07, 2011
Whatever Happened to Gold?As events in Europe have roiled the U.S. markets over the last month, one usually precious element of the market talk has been missing: gold.
December 07, 2011
EU Watchdog Growls at Ratings AgenciesThe European Union agency that presides over the ratings actions of the likes of Moody's, Standard & Poor's, and Fitch Ratings has begun an investigation into how they arrive at rankings for sovereign bonds and other debt, and it warns that if wrongdoing is uncovered, the penalties could be severe.
December 07, 2011
Buffett Goes SolarWarren Buffett is going solar. The CEO of Berkshire Hathaway is stepping in where the government fears to tread, so to speak, as Berkshires MidAmerica Energy Holdings unit agreed to buy the $2 billion Topaz project in California after a U.S. government loan guarantee for the project fell through.
December 06, 2011
Joint Congressional Hearing Addresses Derivatives and Tax ReformBaucus quotes Buffett on limiting potential for mischief; witnesses criticize Congress piecemeal approach to taxing financial products.
December 06, 2011
Motley Fool’s Hanson: ‘Ditch These ETFs Now’Tim Hanson has a stark warning for ETF investors, one that flies in the face of conventional wisdom; emerging market ETFs are a pretty package with some very scary contents. Hanson, senior portfolio analyst with Motley Fool Asset Management, has a new report out with a very direct title, Ditch...
December 06, 2011
MF Global Employees Sue ExecutivesFormer and current employees of bankrupt MF Global have brought suit against the executives of the firm, alleging that misrepresentations were made that destroyed company stock values. The employees are seeking class action status.
December 06, 2011
Jeremy Grantham Delivers Large Dose of DoomGranthams latest letter to clients is spectacularly, and relentlessly, depressing; but his fine performance as a hedge fund manager should allow for a very respectful hearing.