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Money markets have a problem in zero-rate world
INVESTING MUTUAL FUNDS SEP 08, 2020
Money markets have a problem in zero-rate world

Some fund companies are moving away from prime funds as low rates limit the edge the funds are designed to provide over more conservative alternatives

Berkshire Hathaway cuts stake in Wells Fargo
NEWS WIREHOUSES SEP 04, 2020
Berkshire Hathaway cuts stake in Wells Fargo

Warren Buffett's Berkshire sold more than 100 million shares, trimming its holdings of the bank's common stock to about 3.3%, according to a regulatory filing

Stocks fall, led again by big tech
INVESTING EQUITIES SEP 04, 2020
Stocks fall, led again by big tech

Equities ignore the upbeat jobs report to focus on whether tech stocks have become overvalued

Jobless rate drops more than expected, to 8.4%
NEWS INDUSTRY NEWS SEP 04, 2020
Jobless rate drops more than expected, to 8.4%

The labor market showed gains for fourth month in a row in August, with nonfarm payrolls growing by 1.37 million

Smart-beta funds don't live up to the backtesting
INVESTING MUTUAL FUNDS SEP 03, 2020
Smart-beta funds don't live up to the backtesting

An academic study finds strategies that outperformed on paper disappoint once they're packaged as ETFs

Tech shares post biggest decline since June
INVESTING EQUITIES SEP 03, 2020
Tech shares post biggest decline since June

The Nasdaq 100 fell as much as 5.4% as Apple, Tesla and Amazon all sank

Robinhood probed by SEC over payments from high-speed traders
NEWS REGULATION AND LEGISLATION SEP 03, 2020
Robinhood probed by SEC over payments from high-speed traders

Regulator said to be looking at whether the online broker properly informed clients that it sold their stock orders to Wall Street firms

Research casts doubt on claims of  ‘widespread’ ESG outperformance
INVESTING ESG SEP 02, 2020
Research casts doubt on claims of ‘widespread’ ESG outperformance

An academic paper questions the notion that U.S. stocks with higher ESG scores held up better than the broader market during the first-quarter sell-off

Wells Fargo among the companies setting racial hiring quotas
YOUR PRACTICE PRACTICE MANAGEMENT SEP 02, 2020
Wells Fargo among the companies setting racial hiring quotas

The bank said it will increase Black leadership to 12%

Fund industry opposes DOL's proposed ESG rule
RETIREMENT RETIREMENT PLANNING SEP 01, 2020
Fund industry opposes DOL's proposed ESG rule

Asset managers including Fidelity, BlackRock and State Street submitted comment letters criticizing the proposed rule