onder about all of the activity in Merrill Lynch
stock recently. Well, it probably wasn't anticipation of yesterday's earnings announcement by the Bull. More likely it was rumors of a Merrill takeover by Chase
. Yes, the Rockefeller's bank is reportedly eyeing the originator of the discount brokerage concept. In a nifty bit of cross-promotionm, Forbes web site
reveals that "in the cover story of its April 5 issue, "The Bull Has An Identity Crisis," Forbes magazine will report that it "has seen documents that indicate that the brokerage firm [Merrill Lynch] is now reconsidering an offer from Chase Manhattan to merge with that $366 billion bank.'"
The web site goes on to say that:
In the edition of Forbes due on newsstands on Monday March 22, Forbes reports that "In the margin of a Chase income statement currently under review by Merrill's top executives are handwritten notes" containing the following comments: "Tough to integrate," "Best leveraged-transaction business," "Not client-focused" and "Can negotiations be kept secret?"
ow did John Muresianu
set the $239 million Fidelity Fifty fund back on track. Today's Boston Globe
explains how Muresianu turned the once lagging fund into the third best performer at Fidelity since he took the reigns on Jan. 4. One of his secrets is the Internet. Fully 48 percent of the fund's assets are now invested in technology -- up from 12 percent previously.
und companies have left no stone unturned in their attempt to
find a special angle to set their funds apart from those of the competition in
the increasingly crowded fund marketplace. Not every angle works though. Market
neutral funds may be one pitch that falls on deaf ears, according to today's WSJ
The paper points out that none of these funds have a standout track record.
"I just don't get it. I just don't get going through all that effort to try
to make a few percentage points more than a T-bill," Bob Markman
Minneapolis-based Markman Funds is quoted as saying. Ouch! Two reasons to consider these funds, according to the WSJ are: their returns are not correlated to those of stock funds, and the usually beat bonds. Not much to market when the Dow is knocking on 10k's door.
'Market-Neutral' and Mostly
|Barr Rosenberg Market Neutral
|Barr Rosenberg Select Sectors M.N.
|Boston Partners Market Neutral
|Dreyfus Premier Market Neutral
|Phoenix-Euclid Market Neutral
|Puget Sound Market Neutral
|Warburg Pincus Long-Short M.N.
Note: Return figures are for retail shares and, for load funds, the
front-end-load "A" shares.
Sources: Wall Street Journal, Lipper, fund companies
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