Fed OK's BT-Deutsche Merge
From The New York Times -- registration needed
The Board of Governers of the Federal Reserve voted 6-0 to approve of the takeover of Bankers Trust by Deutsche Bank. Together the two instutions will have $830 billion in assets.
Lynch keynotes ICI
From The Boston Herald
Peter Lynch was the keynote at the ICI's annual Washington gala. He warned investors that the expectations of quick gains in Internet stocks are warping expectations, and reiterated his mantra that many f his best investments have taken years to mature. Lynch, of course, is famously ignorant of technology investing -- "I thought Yahoo was a chocolate drink until last week," he quipped.
Pilgrim Baxter should give up fight with McCall
From The Boston Globe
The paper provides another take on the legal brouhaha between Pilgrim Baxter and fund manager James McColl who wants to jump ship to Merrill Lynch. According to Syre and Bailey, the "suit is peppered with references to the lackluster recent investment performance of firm cofounder Gary Pilgrim, claims of nepotism benefiting daughters of another cofounder, Harold Baxter, and comments about plunging morale as shareholders pull money out of the company's PBHG funds." The pair points out that the fight makes no sense from Pilgrim Baxter's view. Afterall, the firm is up for sale, where is the value in this public black eye?
Funds in the Press
- John Waggoner recommends value funds in today's USA Today. Bottom line he recommends six funds: Torray, Vanguard Growth & Income, Weitz Value, Gabelli Value, Keeley Small Value, FAM Value.
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