Investment News articles from August 2007

Investment News archives from August 2007

OptionsHouse latest to offer 'virtual trading' tool; Helps teach investors how to trade options.(News)
August 6, 2007... Byline: Davis Janowski NEW YORK - OptionsHouse Inc., a Chicago-based online retail broker, late last month became the most recent firm to add a virtual options-trading tool to its website. The motivation for the online upgrade is...

New fund sees gold in water investments; Environmental engineer to run portfolio.(News)
August 6, 2007... Byline: Aaron Siegel NEW YORK - An investment company has hired an environmental engineer to run a mutual fund that invests in water infrastructure. The company calls it the only actively managed fund that makes such investments. Aqua...

529 plans achieving 'critical mass'; New products, choices boost sales.(News)
August 6, 2007... Byline: Charles Paikert NEW YORK - One year after the passage of the landmark Pension Protection Act, which made federal tax breaks for Section 529 college savings plans permanent, the programs are approaching "critical mass,'' according...

Choose in shareholders' favor, Mr. Cox.(Editorial)
August 6, 2007... To paraphrase Harry Truman: What this country needs is a good one-handed Securities and Exchange Commission chairman. His comment supposedly was prompted by economists who provided him advice by saying: "On one hand... On the other hand.''...

Insurance agent basks in Hemingway look-alike fame.(Short Interests)
August 6, 2007... Byline: Gary S. Mogel NEW YORK - Unlike Ernest Hemingway, Larry Austin has never written a novel, fought in a bar or run with the bulls in Pamplona, Spain, but he sure does look like Big Papa. Mr. Austin, a 64-year-old former insurance...

Lifetime income offers advisers key sales opportunity; Clients fail to prepare themselves for increased longevity.(News)(Financial report)
August 6, 2007... Byline: Gary S. Mogel NEW YORK - Having enough income to last until age 90 and beyond is a future problem for baby boomers, but it can be solved now. So said retirement income executives who spoke at the Guaranteed Income - The New...

Waddell planning to upgrade technology; Top advisers will get Pershing platform.(News)
August 6, 2007... Byline: Bruce Kelly NEW YORK - In a break with its past, Waddell & Reed Inc. will offer its advisers updated technology and next year will introduce a new outside platform for its top 300 or so registered representatives, company...

LPL to challenge custody biz; Firm believes new series of fee cuts gives it a leg up.(News)
August 6, 2007... Byline: Bruce Kelly NEW YORK - Armed with a series of fee cuts and reimbursements to its advisers, LPL Financial Services thinks that it can take on the giants of the custody business that provide platforms for fee-only registered...

'Consuelo Mack WealthTrack' comes to investmentnews.com.(Short Interests)
August 6, 2007... Byline: Evan Cooper NEW YORK - Video highlights from the PBS television series "Consuelo Mack WealthTrack'' are now available on investmentnews.com. The exclusive arrangement gives InvestmentNews subscribers access to investment...

Senator knows where his croissant is buttered.(Reverse Spin)
August 6, 2007... Byline: Charles Paikert The New York Times headline said it all: "In Opposing Tax Plan, Schumer Supports Wall Street Over Party.'' That's right, when it came to defending a soak-the-rich tax proposal opposed by his well-heeled financial...

Turnkey giant SEI is rebounding after a strategic about-face; But emboldened TAMPs see an opportunity to gain market share.(News)
August 6, 2007... Byline: Brooke Southall SAN FRANCISCO - After a change of course following three turbulent years, SEI Investments Co. is once again winning assets from financial advisers. The Oaks, Pa.-based turnkey asset management giant reported net...

Arbitration panel raps FSC in detailed decision; Says it ignored red flags that rep was `selling away'.(News)
August 6, 2007... Byline: Bruce Kelly NEW YORK - FSC Securities Corp. last month was taken to task in an NASD arbitration panel decision. The five-year-old case involved a broker, Scott B. Hollenbeck, whose prior employment record included being...

Some advisers to prosper under final 403(b) rules; New regulations to take effect in January 2009.(News)
August 6, 2007... Byline: Lisa Shidler CHICAGO - The role of financial advisers won't be diminished by the new 403(b) regulations released late last month, according to industry experts. The regulations, which were issued July 23 by the Department of...

H.D. Vest ramps up assets, adviser ranks; Firm uses coaches to help CPAs act like advisers.(News)
August 6, 2007... Byline: Brooke Southall SAN FRANCISCO - With help from coaches who train accountants to behave more like financial advisers, H.D. Vest Financial Services is finding new success. The largest independent broker-dealer for tax preparers...

In a surprise, tech stocks jump higher; Sector seen having momentum, some say.(News)
August 6, 2007... Byline: David Hoffman PHILADELPHIA - Amid market volatility that has shaken the confidence of even the most seasoned investors, one sector continues to shine unexpectedly: technology. The information technology sector of the Standard &...

Opinion poll.
August 6, 2007... Previously, we asked you: Is the stock market overheating? Yes: 54.1% No: 45.9% Respondents: 281 This week's question is: Would holding the new chartered private wealth adviser designation from the Investment Management...

Annuity marketers invade video websites; Legality of the pitches seen as a gray area.(News)
August 6, 2007... Byline: Gary S. Mogel NEW YORK - Middle-aged men in wigs performing a rap song, promises of a "Leadzilla'' lead- generation system, and claims of millions of dollars in annual commissions - is this any way to market annuities? On...

Leveraging the potential of emerging economies.(Street Wise)
August 6, 2007... Byline: Jeff Benjamin If you believe in the potential of the world's emerging economies, you are on your way to understanding the theme of the Putnam Global Equity Fund (PEQUX). The fund, which represents $2.3 billion of the $6.5...

Closing quote.(Reverse Spin)
August 6, 2007... "Nice ladies from Kansas won't ever consider the purchase of an annuity after watching a video like this.'' -David Macchia, chief executive of Wealth2k Inc., a Hingham, Mass., strategic-marketing firm for annuities, on some of the aggressive...

At the bell.
August 6, 2007... TD to beef up brokerage staff TD Ameritrade Holding Corp. of Omaha, Neb., is hiring brokers for two call centers serving those who don't live near its branches, a spokesman said Friday. The effort is part of the $100 million being...

Random audits should not be feared.(Monday Morning)
August 6, 2007... Byline: Jim Pavia I have to admit I became uneasy when I read that beginning in October, the Internal Revenue Service will revive its practice of randomly targeting taxpayers for audits. I know that the chances of the IRS' auditing my...

Growth seen in alternatives market; REITs, hedge funds lead the way.(Alternative Investments)
August 6, 2007... Byline: Jeff Benjamin DETROIT - Alternatives to traditional stock and bond investments have never been more plentiful - or more complex. For financial advisers, the fast-changing alternatives marketplace represents both challenges and...

Adviser group pushes for U-5 reporting reforms; Wealth Advisor Institute "appalled'' at court's immunity decision.(News)
August 6, 2007... Byline: Dan Jamieson IRVINE, Calif. - The Wealth Advisor Institute is calling for reform of the broker-termination-reporting process. Last month, the Washington-based industry group called on NASD (now part of the New York- and...

Americans are split on saving priorities.(Short Interests)
August 6, 2007... Byline: Lisa Shidler CHICAGO - In a recent survey, Americans were split on whether to save for their children's college education or for their retirement years. Country Insurance and Financial Services in Bloomington, Ill., sponsored...

Increasing the odds of financial-product success.(Other Views)
August 6, 2007... Byline: Andrea Trachtenberg Have you ever wondered why great financial-product ideas often turn into clunkers that are as complicated as a Rubik's Cube? Consider some of the annuities on the market. The appealing and easily grasped...

With Lynn D. Dudley of the American Benefits Council.(One on One)
August 6, 2007... Byline: Sara Hansard Lynn D. Dudley is in the thick of things with Congress, eyeing 401(k) fees and executive compensation. The American Benefits Council, which represents large companies that have health and retirement benefits, is...

Claymore unveils ETF for luxury goods.(Short Interests)
August 6, 2007... Byline: Aaron Siegel NEW YORK - Claymore Securities Inc. has launched an exchange traded fund that invests in luxury-goods-and-services companies. The Claymore/Robb Report Global Luxury Index ETF (ROB), which began trading on the New...

MySpace, YouTube are forums for 401(k) guidance.(News)
August 6, 2007... Byline: Darla Mercado NEW YORK - How do you get a twentysomething to learn about saving and investing? One way is to package a crash course on 401(k)s into an animated clip on MySpace.com. Jack, a 23-year-old sous chef who seeks...

New criticism for name of self-regulator; The word `authority' may baffle investors, some critics say.(News)
August 6, 2007... Byline: Dan Jamieson IRVINE, Calif. - It's FINRA, and it's final. But the name of the self-regulatory organization formed by the consolidation of NASD's and the New York Stock Exchange's regulatory units is drawing a new wave of...

Is new IMCA designation just more alphabet soup? Some in industry find merit, others say that it creates more confusion.(News)
August 6, 2007... Byline: Aaron Siegel NEW YORK - The Investment Management Consultants Association's decision to offer the chartered private wealth adviser designation makes industry participants wonder if the credential will fill a need or merely add to...

Smart-phone picks.(News)
August 6, 2007... Favorite devices of PC Magazine's Sascha Segan, and their carriers BlackBerry 8830: Best Blackberry for multimedia and international travel Verizon Wireless Motorola RAZR V3xx: Fastest Internet phone in the United States AT&T Wireless...

Promotion of young advisers stays slow.(Conference Call)
August 6, 2007... Byline: Aaron Siegel COLLEGEVILLE, Minn. - Despite the strong returns that the financial markets have been generating in recent years, few young financial advisers have been able to take advantage, said Philip Palaveev, a senior manager at...

Alt-investment due diligence entails heavy lifting; The level of comfort with fund managers key to asset gathering.(Alternative Investments)
August 6, 2007... Byline: Jeff Benjamin DETROIT - Investing client assets in alternative products and strategies can expose financial advisers to a whole new set of challenges for due diligence. While some alternative investments, such as hedge funds,...

China fund invests first, raises capital later.(News)
August 6, 2007... Byline: Arleen Jacobius SAN FRANCISCO - When Melissa Ma, Laure Wang and Rebecca Xu decided to strike out and form a new fund-of-funds firm focused on private equity in Asia, they opted to invest first and raise a fund second. With a...

Increased appetite for risk helps buoy overseas portfolios.(The Markets)
August 6, 2007... Byline: Jeff Tjornehoj International funds (those investing exclusively outside the United States) have performed relatively better than most domestic funds for the past few years. Some of that outperformance can be explained by the...

Calendar.
August 6, 2007... August 15 - Cross-Tested Plans Specialty Workshop, SunGard Corbel Inc. DoubleTree Hotel Chicago-Arlington Heights (Ill.); Hilton Cincinnati Netherlands Plaza; Embassy Suites San Francisco Airport, South San Francisco, Calif....

Value or growth - which is No. 1? Index firms offer contradictory views of performance.(News)
August 6, 2007... Byline: David Hoffman PHILADELPHIA - The two biggest names in indexing don't agree on the relative performance of value and growth stocks during the first half of the year. The Standard & Poor's 500/Citigroup Value Index rose 7.73%...

More adviser tools coming to smart phones; Stock prices, news can be grabbed on the go.(News)
August 6, 2007... Byline: Davis Janowski NEW YORK - Financial advisers who use a BlackBerry or other smart phone soon will be able to access a wider range of financial tools and applications. Smart phones - the catchall term for any hand-held device...

Smallish 401(k) accounts said to get little support; Planners find it hard to provide face-to-face service.(News)
August 6, 2007... Byline: Darla Mercado NEW YORK - Retirement is already scary for both near-retirees on a tight budget and their planners, but these clients may warrant a second look, advisers said. On average, a 60-year-old with at least 30 years on...

Corrections.
August 6, 2007... An article in the July 23 issue about the Credit Suisse/Tremont Hedge Fund Index revising performance data didn't include a correct comparison of indexes. A narrow index of hedge funds originally stated the returns for June, and the...

Midsize brokers take on big guns with new, creative pay packages; Firms focus on longer-term strategies, not upfront bonuses.(News)
August 13, 2007... Byline: Bruce Kelly NEW YORK - In order to take on the big boys of the independent broker-dealer market, some growing middle-tier firms are offering souped-up compensation packages in place of or along with big upfront checks. The...

FINRA sweep scrutinizing withdrawals; At least 10 firms eyed for misleading clients in abuse of tax code.(News)
August 13, 2007... Byline: Bruce Kelly NEW YORK - Intensifying its recent focus on protecting retirees, the Financial Industry Regulatory Authority began last month a sweep of broker-dealers focusing on the use of exemptions in the tax code to withdraw money...

Closing quote.(Reverse Spin)
August 13, 2007... "If your shtick is mutual fund guru to a 401(k), that's going to fade.'' -Joe Birkofer, a principal of Legacy Asset Management Inc. in Houston, predicting that target date funds will be the wave of the future. Page 25.

With Szifra Birke of Lexington Wealth Management Inc.(One on One)
August 13, 2007... Byline: Charles Paikert Szifra Birke is fascinated by money. That may not be unusual for someone who works for a wealth management firm, except that she is not a wealth manager, nor is she a portfolio manager or a financial adviser....

Reuters rolling out a website for advisers.(Reverse Spin)
August 13, 2007... Byline: Charles Paikert Do advisers really need another "community'' website? Reuters, the giant London-based news and information company, thinks they do. "It's our version of Web 2.0,'' said Scott Parry, White Plains, N.Y.-based...

Gary Mogel, IN insurance reporter, dies at 49; `Consummate professional' was highly respected for his incisive coverage.(News)(Obituary)
August 13, 2007... Byline: Charles Paikert NEW YORK - Gary S. Mogel, a highly regarded insurance reporter, died of a heart attack on Aug. 5, at his home in Plainview, N.Y. He was 49. Mr. Mogel had covered life and long-term-care insurance, annuities and...

Hooters CEO's heir challenges widow's bid for elective share; Questions constitutionality of beneficial South Carolina estate law.(News)
August 13, 2007... Byline: Lisa Shidler CHICAGO - The son of the late founder and owner of the Hooters restaurant chain is in an estate battle with his father's widow, arguing that a commonly used estate law is unconstitutional. Robert Brooks, 69, died...

Subprime exposure worries some advisers; Software tools may not spot clients' problems.(News)
August 13, 2007... Byline: Davis Janowski YORK - Client portfolios may be affected by the fallout from turmoil in the subprime mortgage market - but advisers aren't exactly sure where the problems may lie and don't believe their software tools can give them...

How you can keep the marketing ball rolling.(Marketing Strategies)
August 13, 2007... Byline: Libby Dubick Patrick Byrne knows how hard it is to maintain marketing momentum. "I can't let service or financial management go,'' said the president of Aspetuck Financial Management LLC in Westport, Conn. "As a result, my...

Advisers remain concerned about target date fund 'advice'; First anniversary of Pension Protection Act finds them worried about competition.(News)
August 13, 2007... Byline: Sara Hansard WASHINGTON - As the first anniversary of the Pension Protection Act approaches, financial advisers remain wary of target date mutual funds. A key provision of the act, which became law on Aug. 17, 2006, cleared the...

Investors duck arbitration fees; Brunt of unpaid tabs falls on industry, observers claim.(News)
August 13, 2007... Byline: Dan Jamieson IRVINE, Calif. - As the Financial Industry Regulatory Association's arbitration system faces mounting criticism for being too costly for investors, some industry observers are countering with a little-discussed fact:...

RIA assets expected to soar by 2012; Average SEC firm seen likely to have 256% hike to $1.6B.(News)
August 13, 2007... Byline: Brooke Southall NEW YORK - Assets under management for the average SEC-registered investment adviser are expected to leap 256% to $1.6 billion by the end of 2012, from $449.6 million at the end of 2006, according to a study that...

Advisers love Rudy, hate Hillary.(Short Interests)
August 13, 2007... Byline: Aaron Siegel NEW YORK - Caroline Giuliani may not be supporting her father's presidential bid, but financial advisers say they prefer the former New York mayor over any other candidate in the presidential race. According to...

Retirees ponder settling in exotic locations; Mexico, Costa Rica, among others, offer affordable lifestyles.(News)
August 13, 2007... Byline: Lisa Shidler CHICAGO - Baby boomers, it seems, are terrified of routine retirements, of days filled with bingo and croquet. Instead, they are lured to adult communities in Mexico, Costa Rica and other exotic locations,...

Partnership leads to portfolios that are Sudan-free.(Short Interests)
August 13, 2007... Byline: Darla Mercado NEW YORK - Independent investment research firm KLD Research and Analytics Inc. and the Sudan Divestment Task Force have created the Sudan Targeted Divestment Compliance product. Modeled for pension funds, the...

Opinion poll.
August 13, 2007... Previously, we asked you: Would holding the new chartered private wealth adviser designation from the Investment Management Consultants Association impress your high-net-worth clients and be useful in marketing your expertise? Yes: 24.2%...

Key findings of Hewitt Associates study.(News)
August 13, 2007... 12% of plan sponsor respondents said they already offered Roth 401(k) accounts, and 32% of the remaining respondents said they were very likely or somewhat likely to implement such accounts in 2007. 77% said they were very or somewhat...

At the bell.
August 13, 2007... SEC quiet on auditing subprime lenders The Securities and Exchange Commission declined to comment Friday on reports that it is checking top Wall Street investment banks' books for hidden subprime losses. Robert Burson, an associate regional...

New website highlights women-run companies.(Short Interests)(Website overview)
August 13, 2007... Byline: Aaron Siegel NEW YORK- A well-known author and financial commentator announced that she would launch an online newsletter targeting female investors next month. Jennifer Openshaw will offer "QualityStocks for Women,'' a...

Past bubbles offer lessons for advisers.(Editorial)
August 13, 2007... The deflation of the housing and mortgage bubble should reinforce several lessons for investors and their advisers. First, if it looks like a bubble and if you hear the phrase, "This time it's different,'' it probably is a bubble, and will...

Venture capital deals rose 6.1% in the second quarter, to 977; Number is highest since '01; investment up 2.5% to $7.12B.(News)
August 13, 2007... Byline: Brooke Southall SAN FRANCISCO - With early-stage investments showing new strength during the second quarter, venture capitalists reported the largest number of deals since 2001. There were 977 deals, up 15.6% from the 856...

Remembering reporter Gary Mogel.(Monday Morning)
August 13, 2007... Byline: Jim Pavia Time heals all wounds, or so they say. But it will take a great deal of time to get over the blow suffered by the InvestmentNews family. Gary Mogel, 49, a staff reporter who covered insurance, annuities and...

For this manager, large-cap growth is the place to be.(Street Wise)
August 13, 2007... Byline: Jeff Benjamin There is nothing quite like the flexibility of an all-cap strategy when the equity markets turn choppy, which is why the management behind the Biondo Growth Fund (BIONX) feels it is strategically poised for the...

Black eye seen for Canada securities enforcement; Flaherty renews call for national regulator after Bre-X verdict.(News)
August 13, 2007... Byline: David Clarke OTTAWA - Embarrassment? Tragedy? Take your pick. Those were among the mostly furious reactions to the decision by Ontario Superior Court that cleared a former vice chairman of Bre-X Minerals Ltd. on all charges...

Index unit's planned IPO sparks concerns about conflicts; MSCI's IPO would mean new pressure from shareholders.(News)
August 13, 2007... Byline: David Hoffman PHILADELPHIA - Morgan Stanley's plans to take its MSCI Inc. index unit public is raising concerns about conflicts of interest that may arise when an index company must answer to shareholders. As a stand-alone...

Indexing debate should focus on risk versus return.(Investment Strategies)
August 13, 2007... Byline: Jeffrey S. Coons The investment industry is caught up in a great indexing debate, as supporters of the 20th century's market-capitalization-weighted approach to index-based investing struggle to hold their dominant position over...

Asset-manager mergers may be peaking.(Short Interests)
August 13, 2007... Byline: David Hoffman PHILADELPHIA - The urge to merge is still strong among investment managers, but it could be cooling, according to a report released last week by Putnam Lovell NBF Securities Inc. of New York. Sales of investment...

Technology failure thwarts Linsco; Thousands of advisers unable to conduct business for days.(News)
August 13, 2007... Byline: Brooke Southall NEW YORK - An online-access snafu put a glitch in Linsco/Private Ledger Corp.'s plans to compete with the largest firms in the industry and left 7,000 financial advisers unable to place trades, view accounts or...

Fidelity shake-up creates angst among advisers; Resignation of Ellyn McColgan leaves void at fund giant.(News)
August 13, 2007... Byline: David Hoffman PHILADELPHIA - Financial advisers are reeling from the abrupt resignation of Ellyn A. McColgan last week from Fidelity Investments. Ms. McColgan, who in April was promoted to president of Fidelity's distribution...

Fate of estate tax worries planning lawyers; Some fear Congress may not act before repeal law expires.(News)
August 13, 2007... Byline: Sara Hansard WASHINGTON - Estate planning lawyers are increasingly worried that Congress may not act on estate tax reform before the estate tax repeal expires at the end of 2010. "The current state of the law is clearly...

Correction/Clarification.(Correction notice)
August 13, 2007... Correction An article in the Aug. 6 issue, "New fund sees gold in water investments,'' incorrectly said that Aqua Terra Asset Management LLC of Conshohocken, Pa., launched the Kinetics Water Infrastructure Fund. The company is actually the...

SMAs ranked by second-quarter returns; Second-quarter commentary by Gib Watson.(Separate Accounts)
August 13, 2007... Domestic equity The winner for the second quarter was the Russell 2500 Growth Index, up 6.99% for the period and 11.30% for the first half of the year. This may be the start of a typical late rally shift to large-caps, for safety, and...

With Bruce R. Bent of The Reserve.(One on One)
August 20, 2007... Byline: Dan Jamieson While others worry about the stock market, Bruce R. Bent focuses on cash. The 70-year-old founder and chairman of The Reserve in New York, formerly The Reserve Fund, is well known as the inventor of the money...

A look at how our irrational brains tick.(Monday Morning)
August 20, 2007... Byline: Mike Clowes The human brain is a wondrous thing - of that there is no doubt. But when it comes to investing, our brains frequently betray us. For one, they insist on finding patterns in data even where none exists. In a typical...

Closing quote.(Reverse Spin)
August 20, 2007... "Those who understand the favors game are most likely to reach the highest levels of the SEC.'' -Gary Aguirre, a former investigator for the SEC. Page 47.

Dodd, Frank urge hike on loan limits.(At the Bell)
August 20, 2007... Dodd, Frank urge hike on loan limits The heads of the Senate Banking and House Financial Services committees were joined Friday by a Republican congressman in urging that loan limits be raised for Fannie Mae of Washington and Freddie Mac of...

Rich depend on Social Security.(Short Interests)
August 20, 2007... Byline: Lisa Shidler CHICAGO - Even high-wage workers depend on Social Security for a portion of their income when they retire, according to a report released this month by the National Center for Policy Analysis. Social Security...

Calendar.
August 20, 2007... August 23 - Safe Harbor 401(k), SunGard Corbel Inc. Charlotte (N.C.) Hilton Executive Park; Crowne Plaza Dallas/Addison (Texas); Marriott Minneapolis Airport, Bloomington, Minn. webtechsem@relius.net. 29 - Cross-Tested Plans Specialty...

Younger workers better savers, but advisers take a pass; Some say such investors lack an appreciation for the value of advice.(News)
August 20, 2007... Byline: Lisa Shidler CHICAGO - Younger workers are ahead of other generations when it comes to saving for retirement, but advisers still tend to prefer older and wealthier clients. A study showed that 68% of workers between the ages of...

First Data LBO puts Wall Street firms in vise; Investment banks could lose big - by doing deal or walking away from it.(News)
August 20, 2007... Byline: Aaron Elstein NEW YORK - A group of seven investment banks may get stuck with the tab for this year's biggest leveraged buyout. When the $29 billion deal for credit card processor First Data Corp. was announced in April, it...

Court: Ex-employee can sue after 401(k) cash-out; More plans could face charges of mismanagement.(News)
August 20, 2007... Byline: Judy Greenwald SAN JOSE, Calif. - A former employee who has cashed out of his 401(k) plan can still sue the plan's administrator for mismanaging the plan's assets, a federal appellate court has ruled in a decision that observers...

Brother, can you spare a billion?(Reverse Spin)
August 20, 2007... Byline: Charles Paikert Yes, even exalted Goldman Sachs & Co. Inc. can make big mistakes. The New York-based financial powerhouse last week said that three of its hedge funds have lost nearly $5 billion in value so far this year....

Will brain drain get worse at U.S. Trust? BofA terms losses `normal'; rivals assert bank is vulnerable.(News)
August 20, 2007... Byline: Charles Paikert NEW YORK - Dozens of high-powered wealth management professionals have left Bank of America Corp. to join rival firms in the month and a half since the banking behemoth acquired U.S. Trust. While executives at...

Fund manager eschews predictable herd mentality.(Street Wise)(Company overview)
August 20, 2007... Byline: Jeff Benjamin As funds of hedge funds go, the Cogo Wolf Global Strategies Fund LP is not likely to be accused of following the crowd. The $65 million fund, the flagship product of San Francisco-based Cogo Wolf Asset Management...