empire of the fund the way we save now

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Empire Of The Fund

Author : William A. Birdthistle
ISBN : 9780199398577
Genre : Business & Economics
File Size : 39. 4 MB
Format : PDF, Kindle
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Empire of the Fund is an expos? and examination of the way we save now. With the rise of the 401(k) and demise of the pension, the United States has embarked upon the richest and riskiest experiment in our financial history. Over the next twenty years, nearly eighty million baby boomers will retire at a pace of ten thousand per day. The hypothesis of our experiment is that millions of ordinary, untrained, busy citizens can successfully manage trillions of dollars in a financial system dominated by wealthy, skilled, and powerful financial institutions, many of which have a record of treating individual investors shabbily. The key tools in our 401(k) plans and individual retirement accounts are mutual funds, which have ballooned to hold more than $16 trillion. But these funds pose dangers to our savings in three ways: through structural vulnerabilities that give money managers the incentive to focus on marketing over investing; through the very human challenges of managing our savings decades into the future; and through the peril of financial professionals behaving badly, to our economic harm. Though Americans often hear of the importance of low fees in fund investing, few are aware of the astonishing panoply of ways that some financial advisers have illegally diverted money out of mutual funds: from abetting hedge funds to trade after the legal deadline, to inflating the assets on which they are paid a percentage, to paying kickbacks for brokers to sell their funds. This book will forewarn and forearm Americans by illustrating the structural flaws, perverse incentives, and litany of scandals that have bedeviled mutual funds. And by setting forth a pair of policy solutions to improve Americans' financial literacy and bargaining power, it will also attempt to safeguard our individual financial destinies and our nation's fiscal strength.

Empire Of The Fund

Author : William A. Birdthistle
ISBN : 9780199398560
Genre :
File Size : 39. 70 MB
Format : PDF, ePub, Mobi
Download : 747
Read : 1223

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Empire of the Fund is an exposé and examination of the way we save now. With the rise of the 401(k) and demise of the pension, the United States has embarked upon the richest and riskiest experiment in our financial history. Over the next twenty years, nearly eighty million baby boomers will retire at a pace of ten thousand per day. The hypothesis of our experiment is that millions of ordinary, untrained, busy citizens can successfully manage trillions of dollars in a financial system dominated by wealthy, skilled, and powerful financial institutions, many of which have a record of treating individual investors shabbily. The key tools in our 401(k) plans and individual retirement accounts are mutual funds, which have ballooned to hold more than $16 trillion. But these funds pose dangers to our savings in three ways: through structural vulnerabilities that give money managers the incentive to focus on marketing over investing; through the very human challenges of managing our savings decades into the future; and through the peril of financial professionals behaving badly, to our economic harm. Though Americans often hear of the importance of low fees in fund investing, few are aware of the astonishing panoply of ways that some financial advisers have illegally diverted money out of mutual funds: from abetting hedge funds to trade after the legal deadline, to inflating the assets on which they are paid a percentage, to paying kickbacks for brokers to sell their funds. This book will forewarn and forearm Americans by illustrating the structural flaws, perverse incentives, and litany of scandals that have bedeviled mutual funds. And by setting forth a pair of policy solutions to improve Americans' financial literacy and bargaining power, it will also attempt to safeguard our individual financial destinies and our nation's fiscal strength.

Empire Of The Fund

Author : William A. Birdthistle
ISBN : 9780199398584
Genre : Business & Economics
File Size : 26. 14 MB
Format : PDF, Mobi
Download : 601
Read : 1291

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Empire of the Fund is an expos? and examination of the way we save now. With the rise of the 401(k) and demise of the pension, the United States has embarked upon the richest and riskiest experiment in our financial history. Over the next twenty years, nearly eighty million baby boomers will retire at a pace of ten thousand per day. The hypothesis of our experiment is that millions of ordinary, untrained, busy citizens can successfully manage trillions of dollars in a financial system dominated by wealthy, skilled, and powerful financial institutions, many of which have a record of treating individual investors shabbily. The key tools in our 401(k) plans and individual retirement accounts are mutual funds, which have ballooned to hold more than $16 trillion. But these funds pose dangers to our savings in three ways: through structural vulnerabilities that give money managers the incentive to focus on marketing over investing; through the very human challenges of managing our savings decades into the future; and through the peril of financial professionals behaving badly, to our economic harm. Though Americans often hear of the importance of low fees in fund investing, few are aware of the astonishing panoply of ways that some financial advisers have illegally diverted money out of mutual funds: from abetting hedge funds to trade after the legal deadline, to inflating the assets on which they are paid a percentage, to paying kickbacks for brokers to sell their funds. This book will forewarn and forearm Americans by illustrating the structural flaws, perverse incentives, and litany of scandals that have bedeviled mutual funds. And by setting forth a pair of policy solutions to improve Americans' financial literacy and bargaining power, it will also attempt to safeguard our individual financial destinies and our nation's fiscal strength.

Selling Hope Selling Risk

Author : Donald C. Langevoort
ISBN : 9780190225674
Genre : Business & Economics
File Size : 74. 80 MB
Format : PDF, ePub, Docs
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In the midst of globalization, technological change, and economic anxiety, we have deep doubts about how well the task of investor protection is being performed. In the U.S., the focus is on the Securities & Exchange Commission. Part of the explanation is economic and political: the failure to know the right balance between investor protection and capital formation, and the resulting battle among interest groups over their preferred solutions. In Selling Hope, Selling Risk, author Donald C. Langevoort argues that regulation is also frustrated at nearly every turn by human nature, as exhibited both on the buy-side (investors) and sell-side (corporate executives, bankers, stockbrokers). There is plenty of savvy and guile, but also ample hope, fear, ego, overconfidence, social contagion and the like that persistently filter and distort the messages regulators try to send. This book is the first sustained effort to link the key initiatives of securities regulation with our burgeoning awareness in the social sciences of how people and organizations really behave in economic settings. It examines why corporate fraud occurs and how best to deter it and compensate its victims; the search for an edge via insider trading; the disclosure apparatus and its gatekeepers; sales efforts and manipulation in Ponzi schemes, internet scams, private offerings and crowdfunding; and how this all helps explain the recent global financial crisis. It ends by turning these insights back on the task of regulation itself, and the strategies (and frustrations) of making regulation work in a financial world that is at once increasingly sophisticated yet deeply human and incurably flawed.

Are We Rome

Author : Cullen Murphy
ISBN : 9780547527079
Genre : History
File Size : 46. 99 MB
Format : PDF, Kindle
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The rise and fall of ancient Rome has been on American minds from the beginning of our republic.Today we focus less on the Roman Republic than on the empire that took its place. Depending on who’s doing the talking, the history of Rome serves as either a triumphal call to action or a dire warning of imminent collapse. In Are We Rome? the esteemed editor and author Cullen Murphy reveals a wide array of similarities between the two empires: the blinkered, insular culture of our capitals; the debilitating effect of bribery in public life; the paradoxical issue of borders; and the weakening of the body politic through various forms of privatization. Murphy persuasively argues that we most resemble Rome in the burgeoning corruption of our government and in our arrogant ignorance of the world outside -- two things that must be changed if we are to avoid Rome’s fate.

From The Ruins Of Empire

Author : Pankaj Mishra
ISBN : 9781429945981
Genre : History
File Size : 59. 66 MB
Format : PDF, ePub
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A surprising, gripping narrative depicting the thinkers whose ideas shaped contemporary China, India, and the Muslim world A little more than a century ago, as the Japanese navy annihilated the giant Russian one at the Battle of Tsushima, original thinkers across Asia, working independently, sought to frame a distinctly Asian intellectual tradition that would inform and inspire the continent's anticipated rise to dominance. Asian dominance did not come to pass, and those thinkers—Tagore, Gandhi, and later Nehru in India; Liang Qichao and Sun Yatsen in China; Jamal al-Din al-Afghani and Abdurreshi al Ibrahim in the ruins of the Ottoman Empire—are seen as outriders from the main anticolonial tradition. But Pankaj Mishra shows that it was otherwise in this stereotype-shattering book. His enthralling group portrait of like minds scattered across a vast continent makes clear that modern Asia's revolt against the West is not the one led by faith-fired terrorists and thwarted peasants but one with deep roots in the work of thinkers who devised a view of life that was neither modern nor antimodern, neither colonialist nor anticolonialist. In broad, deep, dramatic chapters, Mishra tells the stories of these figures, unpacks their philosophies, and reveals their shared goal of a greater Asia. Right now, when the emergence of a greater Asia seems possible as at no previous time in history, From the Ruins of Empire is as necessary as it is timely—a book essential to our understanding of the world and our place in it.

Empire On The Hudson

Author : Jameson W. Doig
ISBN : 0231076762
Genre : History
File Size : 22. 98 MB
Format : PDF, ePub
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Why do smokers claim that the first cigarette of the day is the best? What is the biological basis behind some heavy drinkers' belief that the "hair-of-the-dog" method alleviates the effects of a hangover? Why does marijuana seem to affect ones problem-solving capacity? Intoxicating Minds is, in the author's words, "a grand excavation of drug myth." Neither extolling nor condemning drug use, it is a story of scientific and artistic achievement, war and greed, empires and religions, and lessons for the future. Ciaran Regan looks at each class of drugs, describing the historical evolution of their use, explaining how they work within the brain's neurophysiology, and outlining the basic pharmacology of those substances. From a consideration of the effect of stimulants, such as caffeine and nicotine, and the reasons and consequences of their sudden popularity in the seventeenth century, the book moves to a discussion of more modern stimulants, such as cocaine and ecstasy. In addition, Regan explains how we process memory, the nature of thought disorders, and therapies for treating depression and schizophrenia. Regan then considers psychedelic drugs and their perceived mystical properties and traces the history of placebos to ancient civilizations. Finally, Intoxicating Minds considers the physical consequences of our co-evolution with drugs--how they have altered our very being--and offers a glimpse of the brave new world of drug therapies.

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