Word: mutuality
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...market shot up to 934 in 2009 from 154 in 2004, according to Larry Petrone, director of research at Financial Research Corp. Over that time, ETF assets under management have more than tripled, to $742 billion. That's still far short of the $7.14 trillion in assets held by mutual funds, but the ETF growth rate is fast closing that gap, with new products covering every subsector of the markets, from bank stocks to silver to Vietnam's public companies. (See pictures of TIME's Wall Street covers...
Basically, ETFs are baskets of securities that passively track stock-market indexes or financial indexes. Since ETFs mirror indexes, they don't have big management fees, nor do they generate as much trading volume (and commission costs) as actively managed mutual funds; when they do have portfolio turnover, it is often by swapping stocks instead of buying and selling them, which means they don't run up capital-gains taxes the way mutual funds often can. The result: lower overall costs for investors. The average annual fee for an ETF is 55 basis points (i.e., 0.55% of assets), significantly below...
...Beverly Hills florists and valet parkers loosely affiliated with foreign newspapers and magazines. But it remains a group of show business reporters, mostly, desperate for access to movie stars who, once a year, are avid to get free exposure by being on their show. The relationship is one of mutual parasitism, and deeply suspect. Live-blogging Sunday's Golden Globes show on her Deadline Hollywood web site, the asp-tongued industry reporter Nikki Finke wondered, "How many times is that annoying announcer going to ask the question, 'Will Avatar win Best Picture?' My answer is, 'Depends on how many Rolexes...
...mistaken," a senior Israeli official speaking on condition of anonymity told TIME. "It was a disgrace to us all as Israelis." The Israel-Turkey relationship looks likely to absorb this week's contretemps, with neither side looking to escalate. On both sides, the strategic ties are driven by mutual national interests that trump internal politics...
...Crimson opened its dual season with a bang, earning two pins and a technical fall to win its first match as a team. Harvard was rarely threatened, as the Diplomats forfeited the first two weight classes and nullified the Crimson’s disadvantage with a mutual forfeit at heavyweight...