June 14, 2016 |
We're living in a world of single-digit returns. That was the main takeaway from endowment and foundation investment managers at an institutional investor roundtable Thursday in Boston, where most of the top colleges and universities decried the stock market's current low level of returns. The market has run up so much since the Great Recession, there seems to be little room to run further. "I would be tickled to get 3 percent" real returns annually - meaning after inflation - in the current market environment, said John Alexander, chief investment officer of the Clemson University Foundation, who oversees the school's endowment.
April 12, 2016 |
The Securities and Exchange Commission has a relatively new cop on the beat here: Sharon Binger, director of the Philadelphia Regional Office. The Philly office oversees enforcement and examinations for the mid-Atlantic region. Binger joined it from the SEC's New York office in 2014, where she was assistant regional director. In an interview, Binger outlined some recent cases and priorities, first highlighting the one filed last week against Paul-Ellis Investment Associates, which the SEC examined at the firm's offices at 1818 Market St. In a suit filed against Joseph Andrew Paul and John Dee Ellis Jr., both of Philadelphia, the SEC alleges that the men orchestrated a fraud of a dozen retirees that totaled $3.9 million.
February 21, 2016
SEI Investments Co., the Oak-based financial services company, manages or administers $670 billion, and, in 2015, commanded $1.33 billion in revenues and turned a profit of $331 million. Founder and chief executive Alfred West Jr., 73, earned $1.76 million a year, according to the most recent proxy. At one time, although not now, his wealth put him on Forbes magazine's billionaire list. So what is his investment strategy? "I invest in SEI," West said, adding that he occasionally sells shares when he wants to buy "real estate I use. " He and his family trusts own 13.1 percent of SEI's shares.
February 21, 2016
As an economist, it is assumed I am an astute investor. The economy does determine the direction of the markets, right? Though that's true to some extent, investors must recognize that economic data provide current or even lagging indicators of activity, and are emotion- free. Meanwhile, the markets may be efficient, but that doesn't mean they don't move for periods of time on emotion, or on perceptions that don't match economic reality. That the economy and Wall Street may not be in sync is hardly an idea that requires a lot of research to back up. Just take the recent sharp decline in stock prices.
February 2, 2016
Edward J. McAndrew, a former federal cybercrime prosecutor, has joined Ballard Spahr as a partner in the Philadelphia, Delaware, and Washington offices. McAndrew advises on cybersecurity, digital privacy, incident response, national security issues, digital speech and conduct, corporate governance, regulatory compliance, and enforcement. McAndrew served for nearly a decade as a federal cybercrime prosecutor in the U.S. Attorney's Office for the Eastern District of Virginia and the District of Delaware.
August 26, 2015 |
After rising for three years, U.S. stock prices on Monday fell along with world markets. But most Americans aren't feeling investors' pain: Some of the same forces driving shares down are also trimming the cost of gasoline and food. And analysts say the market swoon is unlikely to slow hiring or damage an improving economy. With key stock indices off by more than 10 percent since peaking in mid-May, "the market is now officially in 'correction' territory," Daniel Roccato, president of $95 million asset Quaker Wealth Management L.L.C.
July 26, 2014 |
Given how little good news is ever reported about Philadelphia's municipal pension fund, Thursday was a red-letter day. The total fund ended the fiscal year up 15.6 percent, outperforming its benchmarks by 1.96 percent. A more narrow portfolio, managed internally, did well, too, showing an 11.97 percent return, about 3.5 percent higher than similar benchmark funds. That is, in fairness, a very small step in the right direction. The city's pension system is severely unfunded, with only about half the money it needs to pay its $5 billion in obligations to current and future retirees.
July 8, 2014 |
Inflation is making a comeback - although the Federal Reserve doesn't think so - prompting us to determine how we might hedge against it, or benefit from rising prices. Witness higher prices everywhere: at the grocery for meat and coffee, at the gasoline pump, rents, even health care. Invest in companies that benefit from rising prices, such as exchange-traded funds Market Vectors Agribusiness ETF (MOO) that correspond to the price and yield of the Market Vectors Global Agribusiness Index.
June 21, 2014 |
Few would argue that tobacco has any redeeming qualities, but is it a "moral evil"? That's the question members of the University of Pennsylvania's board of trustees likely will grapple with Friday when they consider a proposal to prohibit the investment of university endowment funds in tobacco products. The discussion follows an open letter signed by 530 senior Penn faculty members, urging divestment from tobacco companies, and a 17-page proposal authored by Penn professors and several others.
December 13, 2013
REMEMBER Bernard Madoff. He should be as well-known to investors as Warren Buffett, but for different reasons. Buffett is known for investment success and philanthropy. Madoff should be remembered as the embodiment of deceit. Five years ago, on Dec. 11, 2008, Madoff was arrested for running what has been labeled one of this country's largest Ponzi schemes. Madoff, who had been a prominent member of the securities industry and the chairman of Nasdaq, is serving a 150-year prison term for bilking investors out of billions of dollars.