  | | | | CHICAGO (Reuters) - Some eight years ago, I was at a presentation by Vanguard founder Jack Bogle at a business journalists' conference in Denver, and when his PowerPoint crashed, and he had to use transparencies on a vintage 20th-century overheard projector. After the presentation, he let me keep them, and they still serve as a sort of Rosetta Stone for me for enlightened investing. | | | | | (James Saft is a Reuters columnist. The opinions expressed are his own) | | | |  | | | | (Reuters) - Bank of America's Merrill Lynch has hired two veteran private wealth advisers from Wells Fargo & Co. The pair, Westcott Jones and Scott Vogel, oversaw more than $1 billion in client assets for Wells Fargo's Abbot Downing family wealth business. | | | | | | NEW YORK (Reuters) - Nearly four years after Bernard Madoff admitted using his firm for a massive Ponzi scheme, a U.S. audit watchdog group says it is disturbed by problems that persist in audits of broker-dealers, including a failure to assess the risk of fraud. | | | | | | --Clyde Russell is a Reuters market analyst. The views expressed are his own.-- | | | | | | (Reuters) - HighTower Advisors LLC, an independent broker-owned firm that has expanded by hiring away from top U.S. brokerages, landed a team of veteran advisers in Chicago that managed $1 billion in client assets. | | | | | | Even if you are not one of the 44 million Americans lucky enough to be in a private-sector traditional pension plan, you should care because if enough fail, your tax dollars will be needed to clean up after them. | | | | | | LONDON (Reuters) - Client demands to pull money out of hedge funds rose to their second-highest level this year in August, industry data showed, in a sign some investors may be reassessing these freewheeling portfolios after their performance failed to shine. | | | | | NEW YORK (Reuters) - Faced with growing obligations and shrinking returns, many of the largest U.S. public pensions have raised their exposure to alternative investments to record levels this year, despite ongoing criticism of the risks and costs. | | | | | | BOSTON (Reuters) - A group including nine big-city mayors organized by the U.S. Chamber of Commerce came out on Monday against additional rules for money market mutual funds, ahead of a key regulatory vote like later this month. | | | | |  |  | | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today | | |  | |  | | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today | | | | | | » MORE NEWSLETTERS | |
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