Arthur Levitt, chairman of the
SEC, has suggested that the mutual fund industry improve the role of independent mutual-fund directors, according to an article in
The Wall Street Journal. One proposal Levitt is looking at is whether or not these directors should make up 50% of a mutual fund board.
Another take on the meeting is provided by
TheStreet.com, which reported that Levitt raised more questions than he provided answers through the first half of the meeting.
He's back. After a long silence, John Bogle, Jr., wünderkind of
Vanguard's founder, finally speaks out on his departure from
Numeric in an article with
The Boston Globe. It seems that Langdon Wheeler -- founder of the Cambridge, Massachusetts firm -- decided to postpone his retirement. Bogle decided that Numeric was top-heavy with management and decided to pursue greener pastures. The relationship between the two men is still congenial.
 
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