SEC Keeping An Eye on On-Line Trading
The Boston Globe
SEC's review of on-line brokerage account agreements found that "almost none" of them discuss trading risks or what customers should do if there is a computer system outage. Right now, the brokerages tend to sell on-line trading as almost a lottery, promising quick riches. Levitt also said that he's not ruling out the possibility in the future of a new set of regulations for on-line investing.

Goldman's First Day of The Rest of Its Public Life
The Wall Street Journal
The stories continue to roll in about Goldman's first day of public trading. The Journal comments on Goldman's strategy of largely ignoring its top-tier underwriters, instead placing shares with a group of institutional investors and rich individuals who Goldman believed would remain loyal, long-term holders and not "flip" the stock after its opening. The relatively few shares available to meet the strong demand were then virtually certain to rise sharply.

Also In:
USA Today
The Washington Post
The New York Times
The Los Angeles Times

Don't Leave Home Without Fido
The Boston Herald
The Herald reports on the new American Express card offered by Fidelity to its higher-end customers, reported yesterday in the MutualFundWire.com. A good question that arises is whether people really want to have their charge card bill automatically paid out of their brokerage account assets? That's how payments on these cards will be made.
The WSJ also chimes in on the new card.

Fund Lemons
Mutual Funds Interactive
Doug Fabian quarterly list of fund lemons takes its usual acerbic look at the most recent fund flops. Fabian analyzed 4,778 domestic, global and international mutual funds as of March 31, 1999 to determine which funds habitually underperformed their peer group averages for the last one-, three- and five years.

Picking Winners from the Japanese Rubble
The San Francisco Chronicle
Mark Verveka's column explores the rebounding interest in Japan and how a new fund from visionary investor Bill Hambrecht and Asian fund manager G. Paul Matthews plans to pick stocks, hoping to match the success of the Matthews Korea Fund. 

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