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BUSINESS
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.
NEWS
September 29, 2000 | By James M. O'Neill, INQUIRER STAFF WRITER
Temple University trustees yesterday adopted a significantly more aggressive investment strategy for the university's endowment, a move officials hope will generate more gifts from donors. Temple's executive board voted to invest 50 percent of the university's $140 million endowment in stocks, while maintaining 50 percent in vehicles that produce fixed income, such as bonds. For the past decade, Temple had followed a strikingly unusual investment strategy by placing more than 90 percent of its endowment in bonds or cash.
NEWS
August 24, 1997 | By Dominic Sama, INQUIRER STAFF WRITER
George A. Butler, 69, a former president of CoreStates Financial Corp. who spent more than 40 years in banking, died of cancer Friday at the Hospital of the University of Pennsylvania. He lived in Blue Bell. Mr. Butler had been chairman and chief executive of the former First Pennsylvania Bank and Corp. before its merger with CoreStates in 1990. He was then named president of CoreStates and served in that position until retiring in 1991. He is perhaps best remembered for shepherding First Pennsylvania through hard times in the late 1970s and early 1980s, when the bank's investment strategy went awry and profits skidded.
BUSINESS
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.
BUSINESS
April 12, 2016 | By Erin E. Arvedlund, Staff Writer
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.
NEWS
July 26, 2014 | By Chris Hepp, Inquirer Staff Writer
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.
NEWS
October 6, 1992 | BY LOU CAMPIONE
As the elected police representative to the Pension Board, I am compelled to respond to Jonathan Saidel's Guest Opinion of Sept. 28 concerning the audit of the Municipal Pension Fund. The controller makes some assumptions that do not accurately reflect the fund's current status. I must take exception to Mr. Saidel's recent media campaign that has caused unnecessary fear and stress among many of the police and sheriff's officers I represent. I was first elected to the Pension Board in November 1984 and was appointed to the Investment Committee, serving with the other labor representatives and the city controller.
NEWS
January 29, 2013
MY DUMBEST investment was when I bought shares of Ambac Financial. It turned out to be my best lesson on the dangers of "emotional investing. " I thought I was catching it on the upswing, but I ended up getting an uppercut instead, as it fell faster than I could regain my balance. I quickly realized that the market reacts much faster than I can, and that a sure-footed investment strategy is a much better plan. - T., online   THE FOOL RESPONDS: This bond insurer ran into trouble in 2007, largely due to involvement in mortgage-related securities, and filed for bankruptcy protection in 2010.
NEWS
April 13, 1988 | BY MICHAEL A. NUTTER
The mere mention of South Africa today frequently evokes anger - anger directed toward that country's oppressive practice of apartheid. As Americans, we are repulsed by the systematic racism and brutality imposed upon black South Africans by their country's government. In fact, many black and white Americans have banded together, as have people in other nations, in calling for severe sanctions against the South African government for its repugnant acts. Such sanctions often take the form of divestment of financial resources that support these terrorist acts.
NEWS
October 19, 2000 | Daily News research
Panic-proofing No matter your age, wild market swings shouldn't prompt you to change your investment strategy. But this is as good a time as any to make sure you are on the right path. Here's what to do: Young hot shots: If you have three decades or more before retirement, days like yesterday needn't faze you at all. Keep your money in high-return - and high-risk - investments. That's stocks, including those in emerging and international companies. Gen X and greedy: Baby bust workaholics all know to max out their 401(k)
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ARTICLES BY DATE
BUSINESS
June 14, 2016 | By Erin E. Arvedlund, Staff Writer
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.
BUSINESS
April 12, 2016 | By Erin E. Arvedlund, Staff Writer
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.
BUSINESS
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.
BUSINESS
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.
BUSINESS
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.
BUSINESS
August 26, 2015 | By Joseph N. Distefano, Inquirer Staff Writer
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.
NEWS
July 26, 2014 | By Chris Hepp, Inquirer Staff Writer
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.
BUSINESS
July 8, 2014 | By Erin E. Arvedlund, Inquirer Columnist
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.
NEWS
June 21, 2014 | By Susan Snyder, Inquirer Staff Writer
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.
NEWS
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.
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