The News Review:
- Achingly Beautiful Investing
- Get In on the Bailout
- Halt securities sales state tells two firms
- Making Cents: Consider investing in a Roth IRA
Achingly Beautiful Investing
Motley Fool
And each was extraordinary in his or her chosen field — the surgeon was incredibly talented the writer wildly successful the financial manager a genius with money. Everyone was honorable noble and rather perfect. But as attractive as those fantasies may be in romance novels and investing alike reality is much different. Warts and all Many people idolize great investors imagining that they enjoy some level of perfection we mere mortals don’t. After all wouldn’t Warren Buffett have to be some sort of rumpled steak-loving demigod to amass his mind-boggling wealth?But in truth Buffett’s made.
Get In on the Bailout
New York Times
Most mutual funds for example probably couldn’t buy toxic assets because their regulations say that their customers must be able to sell their shares quickly — and selling a toxic asset is not a quick process. Private investment partnerships like hedge funds can buy the toxic assets but they cannot be offered to the general public. Exchange-traded closed-end funds also are no panacea since investing in these toxic assets requires a long-term commitment of capital and doesn’t lend itself to daily valuations and daily trading. What we need is a not-yet-invented investment vehicle that would enable ordinary citizens to own a piece of the distressed American financial system. The new vehicle would be open to small investors able to commit to a long-term investment. Perhaps the United States savings bond is a useful model since it compels people to invest for the long-term without a complicated prospectus or offering memorandum. The Treasury auction process is another helpful model since it enables small investors to buy Treasury bills and bonds at a price set by large investors.
Halt securities sales state tells two firms
Houston Chronicle
The Texas State Securities Board alleges California-based Stamford Group and Houston-based Rhino Financial hawked investments in portfolios of life settlements since January 2006 without registering the securities with the state. Life settlements are the sale of life insurance policies that pay out on the death of the insured. Stamford Group and Donald Brumfield CE of Rhino Financial didn’t return calls for comment. “Not only were the folks not complying with licensing requirements they were engaging in fraud” said Joe Rotunda director of enforcement with the securities board.
Related from Liabilitymanagementsystems: 10-K: CENTRAL JERSEY BANCRP
Making Cents: Consider investing in a Roth IRA
Taunton Daily Gazette
If you are above either limit you can still contribute to an IRA – you just won’t get a deduction in the year of the contribution. The real benefit for this strategy is that future growth will be tax-deferred until you withdraw the money. If you have a great adviser or investment talent the money may grow in this account escaping taxes for a long time. An even better use for these non-deductible IRA contributions will be available in 2010. Taxpayers will be able to convert traditional IRAs into Roth IRAs in 2010. Normally there are income limits on Roth conversions that prevent people earning more than about $100000 from converting – but not for 2010.