empire of the fund the way we save now

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Empire Of The Fund

Author : William A. Birdthistle
ISBN : 9780199398560
Genre :
File Size : 67. 63 MB
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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 : 87. 88 MB
Format : PDF
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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.

Middle Kingdom And Empire Of The Rising Sun

Author : June Teufel Dreyer
ISBN : 9780199704903
Genre : History
File Size : 75. 4 MB
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Japan and China have been rivals for more than a millennium. In more recent times, China was the more powerful until the late nineteenth century, while Japan took the upper hand in the twentieth. Now, China's resurgence has emboldened it even as Japan perceives itself falling behind, exacerbating long-standing historical frictions. June Teufel Dreyer's Middle Kingdom and Empire of the Rising Sun provides a highly accessible overview of one of the world's great civilizational rivalries. Dreyer, a senior scholar of East Asia, begins in the seventh century in order to provide a historical background for the main story: by the mid-nineteenth century, the shrinking distances afforded by advances in technology and the intrusion of Western powers brought the two into closer proximity in ways that alternately united and divided them. In the aftermath of multiple wars between them, including a long and brutal conflict in World War II, Japan developed into an economic power but rejected any concomitant military capabilities. China's journey toward modernization was hindered by ideological and leadership struggles that lasted until the death of revolutionary leader Mao Zedong in 1976. Bringing the narrative up to the present day, Dreyer focuses on the issues that dominate China and Japan's fraught current relationship: economic rivalry, memories of World War II, resurgent nationalism, military tensions, Taiwan, the Diaoyu/Senkaku Islands, and globalization. Dreyer argues that recent disputes should be seen as manifestations of embedded rivalries rather than as issues whose resolution would provide a lasting solution to deep-standing disputes. For anyone interested in the political dynamics of East Asia, this integrative history of the relationship between the region's two giants is essential reading.

Latin Or The Empire Of A Sign

Author : Françoise Waquet
ISBN : 1859844022
Genre : Foreign Language Study
File Size : 35. 32 MB
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A highly original and accessible history of Latin between the sixteenth and twentieth centuries that explores how Latin came to dominate the civic and sacred worlds of Europe and, arguably, the entire western world.

Empire Of The Beetle

Author : Andrew Nikiforuk
ISBN : 9781553658948
Genre : Nature
File Size : 60. 59 MB
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Beginning in the late 1980s, a series of improbable bark beetle outbreaks unsettled iconic forests and communities across western North America. An insect the size of a rice kernel eventually killed more than 30 billion pine and spruce trees from Alaska to New Mexico. Often appearing in masses larger than schools of killer whales, the beetles engineered one of the world's greatest forest die-offs since the deforestation of Europe by peasants between the eleventh and thirteenth centuries. The beetle didn't act alone. Misguided science, out-of-control logging, bad public policy, and a hundred years of fire suppression created a volatile geography that released the world's oldest forest manager from all natural constraints. Like most human empires, the beetles exploded wildly and then crashed, leaving in their wake grieving landowners, humbled scientists, hungry animals, and altered watersheds. Although climate change triggered this complex event, human arrogance assuredly set the table. With little warning, an ancient insect pointedly exposed the frailty of seemingly stable manmade landscapes. Drawing on first-hand accounts from entomologists, botanists, foresters, and rural residents, award-winning journalist Andrew Nikiforuk, investigates this unprecedented beetle plague, its startling implications, and the lessons it holds.

Crossing The Rubicon

Author : Michael C. Ruppert
ISBN : 9781550923186
Genre : History
File Size : 39. 70 MB
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The long-awaited expose of 9/11 and Peak Oil - by the "Godfather of 9/11 research."

Most Blessed Of The Patriarchs Thomas Jefferson And The Empire Of The Imagination

Author : Annette Gordon-Reed
ISBN : 9781631490781
Genre : History
File Size : 60. 11 MB
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A groundbreaking work of history that explicates Thomas Jefferson’s vision of himself, the American Revolution, Christianity, slavery, and race. Thomas Jefferson is often portrayed as a hopelessly enigmatic figure—a riddle—a man so riven with contradictions that he is almost impossible to know. Lauded as the most articulate voice of American freedom and equality, even as he held people—including his own family—in bondage, Jefferson is variably described as a hypocrite, an atheist, or a simple-minded proponent of limited government who expected all Americans to be farmers forever. Now, Annette Gordon-Reed teams up with America's leading Jefferson scholar, Peter S. Onuf, to present an absorbing and revealing character study that dispels the many clichés that have accrued over the years about our third president. Challenging the widely prevalent belief that Jefferson remains so opaque as to be unknowable, the authors—through their careful analysis, painstaking research, and vivid prose—create a portrait of Jefferson, as he might have painted himself, one "comprised of equal parts sun and shadow" (Jane Kamensky). Tracing Jefferson's philosophical development from youth to old age, the authors explore what they call the "empire" of Jefferson's imagination—an expansive state of mind born of his origins in a slave society, his intellectual influences, and the vaulting ambition that propelled him into public life as a modern avatar of the Enlightenment who, at the same time, likened himself to a figure of old—"the most blessed of the patriarchs." Indeed, Jefferson saw himself as a "patriarch," not just to his country and mountain-like home at Monticello but also to his family, the white half that he loved so publicly, as well as to the black side that he claimed to love, a contradiction of extraordinary historical magnitude. Divided into three sections, "Most Blessed of the Patriarchs" reveals a striking personal dimension to his life. Part I, "Patriarch," explores Jeffersons's origins in Virgina; Part II, " 'Traveller,' " covers his five-year sojourn to Paris; and Part III, "Enthusiast," delves insightfully into the Virginian's views on Christianity, slavery, and race. We see not just his ideas and vision of America but come to know him in an almost familial way, such as through the importance of music in his life. "Most Blessed of the Patriarchs" fundamentally challenges much of what we’ve come to accept about Jefferson, neither hypocrite nor saint, atheist nor fundamentalist. Gordon-Reed and Onuf, through a close reading of Jefferson’s own words, reintroduce us all to our most influential founding father: a man more gifted than most, but complicated in just the ways we all are.

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