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James Lebenthal, who sold muni bonds to masses, dies at 86
Through ads, many of which he starred in, the salesman shared his belief that tax-free bonds were a sound investment.
Morningstar's latest Pimco remarks spark catty comments
On Thursday's Breakfast with Benjamin menu: A string of catty comments accompany a Morningstar talk-up of Pimco's outlook. Plus, what municipal bond investors can learn from Detroit and Stockton, avoid getting sucked in by the market's latest winning streak, and much more.
Likely default of Puerto Rican utility haunts brokers, muni fund managers
One in four muni bond funds hold at least some debt by an agency the island's government says will default on loans.
SEC penalizes 13 firms for improper sales of Puerto Rican bonds
The SEC cracks down on financial firms, including Schwab, J.P. Morgan Securities, Lebenthal, Oppenheimer, TD Ameritrade, UBS and Wedbush for selling risky debt beneath the minimum allotment of $100,000 for a single transaction.
UBS facing nearly $1 billion in Puerto Rico claims
Claims over the firm's Puerto Rican bond funds exceed $900 million, three times as much as in the first quarter, and plaintiffs' attorneys say the number will probably climb higher.
Markets in a 'bad mood' as S&P 500 gives back year's gains
Weak economic numbers and an Ebola panic spurred a pullback, causing the S&P 500 to give back the year's gains.
Pimco sees muni returns ebbing after best gain since '11
Pimco sees muni returns ebbing after best gain since '11 Returns in 2015 may be less than half of the 8.6% logged in 2014 Oct 14, 2014 @ 9:55 am By Bloomberg News + Zoom With the $3.7 trillion municipal market poised for its biggest annual gain since 2011, this year is going to be a tough act to
Bill Gross may have to drop 'New Neutral' moniker at Janus
Pimco claims a trademark over the macroeconomic forecast Gross calls 'critical.'
Morgan Stanley bets big on stocks
Breakfast with Benjamin covers Morgan Stanley getting ultra-bullish on stocks, Detroit's big bankruptcy trial kicking off, and how to tread lightly into the MLP space.
Global markets collide with geopolitics as Obama orders airstrikes in Iraq
Friday's Breakfast with Benjamin feature: Global markets collide with geopolitics as Obama orders airstrikes. Plus: Gold bugs rejoice; a senator takes parting shot at Wall Street; hidden risks in mutual funds; and find your perfect TV office.
OppenheimerFunds sees some funds shrink on Puerto Rico bonds
OppenheimerFunds Inc., the largest holder of Puerto Rico debt among mutual funds, has seen some of its funds lose almost a third of their assets in the past year, data compiled by Bloomberg show.Investors are pulling cash from the New York-based company's funds as bondholders speculate Puerto Rico
Puerto Rico debt depresses UBS Wealth earnings
Despite record revenue at UBS Wealth Management Americas, profits fell in the second quarter as the firm reported that it had to set aside $44M for litigation costs, mostly related to the firm's investments in Puerto Rico.
Fixed-income ETFs continue to build off 2014's fast start
Bond markets continued to build off Q1 2014's fast start, and bond fund groups of all stripes did well; from Treasuries to emerging markets and from corporates to munis—seemingly everyone had a fantastic quarter. All of this came as the U.S. economy faced mixed results in the quarter's data: Q1 GDP
Pimco performance stats refute Gross' 'turnaround' statement
Underlying risk metrics suggest the Pimco Total Return Fund continues to have a tough time beating competitors.
The downsides of laddered bond portfolios
We think investors who build laddered portfolios to protect against rising rates will be disappointed — by locking in low yields with traditional ladders or by hidden risks of higher-yielding ladders. In our view, actively managed portfolios are better able to take advantage of changing markets.