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BUSINESS
April 17, 1992 | THOMAS S. MULLIGAN
A tip: "Short" Mike Greenwell. The Boston Red Sox outfielder has failed to live up to his power-hitter billing, and the value of his rookie baseball card (now about $8) is bound to plummet. The advice comes from "Trader Bob," who calls 'em like he sees 'em in a newsletter from the Minneapolis brokerage firm of Dain Bosworth. Dain analyst Michael T. Moe said Trader Bob is an amalgam but mainly reflects the views of a high school buddy of Moe who runs a trading-card shop.
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BUSINESS
April 21, 2013 | Liz Weston, Money Talk
Dear Liz: You always mention fee-only financial planners and I'm not sure about the true meaning. My husband and I have a financial planner who charges us $2,200 per year, but we got a summary of transaction fees in the amount of $6,200 for last year. Is this reasonable? We have $625,000 in IRAs and are adding $1,000 a month. In addition we have over $700,000 with current employers, adding the max allowed yearly. The planner gives advice on allocations for these employer funds as well.
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CALIFORNIA | LOCAL
April 24, 1996 | MICHAEL G. WAGNER, TIMES STAFF WRITER
The Orange County psychic who counseled Robert L. Citron for 15 years said Tuesday that she told the former Orange County treasurer she didn't feel he would be sentenced to prison. Jeannie Smith, 63, said Citron never asked her for investment advice, even as he continued to consult her after interest rates plunged in 1994, causing a $1.64-billion loss in the county investment pool that he managed and forcing the county into bankruptcy.
BUSINESS
February 27, 2013 | By Walter Hamilton, This post has been updated. See below for details.
Federal regulators are investigating whether onetime junk-bond czar Michael Milken violated his lifetime ban from the securities industry, according to a published report. MilkenĀ is allowed to manage his own wealth but is barred from running money for others under the terms of a 1980s settlement with the Securities and Exchange Commission, according to the article in Fortune magazine. Here's what's happening, according to the magazine's article : The SEC is analyzing whether Milken ran afoul of the ban by effectively providing investment advice through Guggenheim Partners, the investment colossus that spearheaded last year's blockbuster purchase of the Dodgers.
BUSINESS
September 30, 1995 | From Associated Press
Nearly three years after he finished serving a prison sentence for violating securities laws, Michael Milken stands to reap a reported $50 million from helping to advise Ted Turner in his negotiations to sell Turner Broadcasting System Inc. to Time Warner Inc. for $7.5 billion. The huge sum shows that Milken, one of the most influential financiers of the 1980s, hasn't lost his touch even though he has paid $1.1 billion in fines and legal settlements and spent two years in prison.
CALIFORNIA | LOCAL
February 2, 2001
Investment advice for 2001: "Psst. Candles." TOM SCHIFF Woodland Hills
BUSINESS
April 21, 2013 | Liz Weston, Money Talk
Dear Liz: You always mention fee-only financial planners and I'm not sure about the true meaning. My husband and I have a financial planner who charges us $2,200 per year, but we got a summary of transaction fees in the amount of $6,200 for last year. Is this reasonable? We have $625,000 in IRAs and are adding $1,000 a month. In addition we have over $700,000 with current employers, adding the max allowed yearly. The planner gives advice on allocations for these employer funds as well.
BUSINESS
May 10, 1998
Want to buy life insurance? Ready to put your ambitions to the test and start a business? Need investment advice? Drop by our "Business Academy" for an introduction to these and other topics, with step-by-step solutions to common challenges. It's at The Times' Web site: http://www.latimes.com/HOME/BUSINESS/BACAD/
BUSINESS
October 8, 2012 | By Pat Benson
Hiring a financial planner isn't just for the wealthy anymore. Regular investors also can get reasonably priced help, business reporter Walter Hamilton writes in The Times' Mutual Fund Quarterly Report. As a legion of do-it-yourself investors gets older and their portfolios grow larger, many people find they need guidance from a financial planner. Fortunately, investment advice doesn't have to break the bank. You can turn to online-brokerage and mutual fund companies, fee-only financial planners, and even from an emerging crop of websites popping up on the Internet.
BUSINESS
October 7, 2012 | By Walter Hamilton, Los Angeles Times
Of all the challenges individual investors face, one of the toughest is finding a good financial planner. As a generation of do-it-yourself investors grows older and their financial lives get more complex, many people are realizing they want a human touch. Though they're comfortable researching investments on the Internet, they want some level of guidance from a planner. "People say, 'Look, I know what I'm doing but I just had a kid' or 'I've gotten a bonus at work and money is now more important to me. It's more serious,'" said Jon Stein, founder of investment website Betterment.com.
BUSINESS
September 6, 2012 | By Stuart Pfeifer, Los Angeles Times
Ray Lucia calls his investment strategy "Buckets of Money" on his nationally syndicated radio talk show. Federal regulators call it something else. The Securities and Exchange Commission accused the San Diego radio personality of misleading investors to think that his strategy helps retirees "generate inflation-adjusted income for life. " They are seeking an order that would prevent the wealth manager from making such claims. Lucia, whose radio program is broadcast daily in most of the nation's top markets, promotes his fee-based investment program at seminars held at upscale resorts throughout the country.
BUSINESS
February 27, 2011 | By Andrew Leckey
Question: Can the stock of Estee Lauder Cos. keep rising? Answer: This diversified skin-care, makeup and fragrance company has some attractive opportunities. Known for such brands as Clinique, Aveda and American Beauty as well as its Estee Lauder line, the company recently increased its short-term profit forecast, citing the return of luxury consumers to U.S. stores and significant gains in overseas markets such as China. In the fiscal year that ended June 30, Estee Lauder's earnings more than doubled to $478 million as sales rose 6.4% to $7.8 billion.
BUSINESS
November 14, 2010 | By Andrew Leckey
Question: I have heard many good things about Roche Holding. Is it a good investment in light of the new healthcare law? Answer: This Swiss pharmaceutical firm has lost some investment luster. The company has an array of cancer-fighting biotechnology drugs, but its once-robust sales growth has been slowing, the threat of cheaper generic drugs is growing, and the company has suffered setbacks in drug development. To improve its outlook, the company is turning to cost-cutting, with staff reductions expected in a number of markets.
BUSINESS
March 28, 2010 | Kathy M. Kristof, Personal Finance
There aren't a lot of investment experts who will tell you what they said 10 years ago and just how much of it turned out to be right. But John C. Bogle isn't your average investment expert. Bogle, author of "Common Sense on Mutual Funds," is right most of the time, which differentiates him from 97% of the mutual fund managers who attempt to beat the market. When he updated his book this year for its 10th-anniversary edition, he put updated passages in red but left the original text, too, so that everyone could see how well his earlier advice held up. Batting average?
BUSINESS
December 21, 2009 | By Evan Halper and Marc Lifsher
A Nevada businessman was paid $17 million by two private equity firms to help them win business from California's giant pension fund at the same time he was working for a La Jolla company that was advising the fund on those investments. The board of the California Public Employees' Retirement System had been informed about the arrangement during a closed-door meeting. Its legal staff determined there was no conflict of interest, and the board approved $1 billion in investments with private equity funds Apollo Global Management and Aurora Capital Group.
BUSINESS
March 31, 2006 | Jonathan Peterson, Times Staff Writer
House leaders want to eliminate a longtime safeguard against conflicts of interest in retirement planning, creating a major sticking point in efforts to overhaul the U.S. pension system. The proposal, championed by House Majority Leader John A. Boehner (R-Ohio), would lift a barrier to firms that run 401(k) retirement plans that keeps them from giving employees investment advice if they stand to benefit financially.
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