A tax warning
From The Wall Street Journal
fueled by technology stocks have gains that are making investors do a double-take. The Journal, however, warns investors that this could be the worst time to enter one of these soaring funds. The reason: portfolios that have soared 100% or more in 1999 are carrying huge potential tax hits, which will be passed along to investors later this year -- even those who weren't on board to profit from the huge run-ups.
GM gears up fund biz
From The New York Post
reported in the Wall Street Journal yesterday, General Motors said it will be starting a low-cost investment portfolios that Fortune 1000 companies can use in their 401(k) retirement plans. GM says it has attempted a 10% annual return in its pension plan, but it has never said whether it actually achieved this goal. Mutual funds could be more of a challenge for the car maker because their performance must be reported every day. GM will have to adopt more regular reporting to succeed in this business.
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