Investment News articles from November 2008

Investment News archives from November 2008

Correction.(Correction notice)
November 3, 2008... An article in the Oct. 27 issue, "Junk bonds seen as stock alternative for bargain hunters,'' incorrectly stated the total assets in the Aquila Three Peaks High Income Fund, from Aquila Asset Management LLC of New York. Total assets in the fund...

Profiling the industry's 50 biggest managers*.(Special Report: Top 401(k) Managers)
November 3, 2008... 1. Fidelity Investments 82 Devonshire St. Boston, MA 02109 Phone: (800) 343-3548 Fax: (617) 476-6150 fidelity.com (millions) 401(k) total: $434,504 Total DC assets: $548,307 Internally managed DC:...

Where to turn when the market tanks; Experts discuss the future of equities, bonds and alternatives.(Special Report: Crisis Webcast)
November 3, 2008... Panelists: Curtis Arledge, Managing director and portfolio manager of the fixed-income portfolio management group, BlackRock Inc., New York Marilyn Cohen, President and chief executive, Envision Capital Management, Los Angeles ...

Today's markets test exchange traded funds; Despite liquidity hiccup, the investments continue to offer unique opportunities.(Special Report: ETF Webcast)
November 3, 2008... Panelists: Marvin Appel, Chief executive, Appel Asset Management Corp., Great Neck, N.Y. James Lowell III, Editor, Forbes ETF Advisor, Chief investment strategist, Adviser Investments, Newton, Mass. Thomas F. Lydon Jr., President,...

What's new on investmentnews.com.(Short Interests)
November 3, 2008... /WealthTrack Christine Fahlund of T. Rowe Price discusses the right course for investors now. /whitepaper Do Americans save "optimally for retirement? /INPractice A time to give thanks. Top web stories viewed Oct. 24-30 1. Congress...

Online opinion poll.(Short Interests)
November 3, 2008... Previously, we asked you: Are you changing how you measure your clients' risk? Yes: 50.4% No: 49.6% Vote now! Visit investmentnews.com/poll to respond to this week's question.

Closing quote.(Short Interests)
November 3, 2008... "The biggest challenge for me has been trying to gauge if the client is truly panicking or just wants to vent." -Charles Bender, a financial adviser and chief financial officer for The Financial Consulate Inc. Page 8

Investor and adviser viewpoints.(News)
November 3, 2008... InvestmentNews, in conjunction with National Financial Services LLC, will be conducting e-mail surveys twice a month to gauge the viewpoints of investors and advisers on key topics in the financial market. We look forward to getting feedback...

Prime numbers.(News)
November 3, 2008... Go figure 91.9%: The estimated percentage of e-mails received by U.S. businesses in September that were spam. Among the remaining e-mails, 5.8% were legitimate correspondence and 2.3% were infected. Source: Panda Security $390K:...

Two community funds doing well; They are earning positive returns and supporting underserved areas.(News)
November 3, 2008... Byline: David Hoffman They aren't necessarily the first mutual funds that come to mind as a place to take cover during turbulent markets, but two funds that invest in mortgage-backed securities with an eye towards community development are...

Study poses need to protect 401(k)s from market risk; Retirement accounts lost $2 trillion over 12 months.(News)
November 3, 2008... Byline: Lisa Shidler In the 12-month period through early October, 401(k) plans and individual retirement accounts dropped in value by $2 trillion due to market volatility, and a new study questions whether retirement accounts are too...

Safe for now, foundations worry about future; Concerned that shrinking endowments and smaller gifts could crimp funding ability.(News)
November 3, 2008... Byline: Sue Asci The fallen stock market won't affect the work of charitable foundations immediately, but experts in the non-profit world are worried about the future. "We look backward five years in calculating the [grant] amounts...

Tech-savvy indies a draw for some advisers; Quality of rep support boosts Commonwealth, RJFS, Securities America.(Tech Tips)
November 3, 2008... Byline: Davis D. Janowski Advisers tell me that broker-dealers are not created equal when it comes to technology support. A few, though, do have teams dedicated to helping advisers with their techno-conundrums. "Commonwealth...

Advisers helping clients prioritize their finances; Simple budgets and cash reserves are among the strategies.(News)
November 3, 2008... Byline: Darla Mercado With the equity market wreaking havoc on retirement portfolios, advisers are helping clients reassess their priorities and determine which objectives to fund first. Many investment-oriented advisers, in fact, said...

SIFMA lays off 30 employees; Market travails cause association to restructure the organization.(News)
November 3, 2008... Byline: Sara Hansard The woes of the brokerage industry last week caught up with the association that represents it. Without public announcement, the Securities Industry and Financial Markets Association on Wednesday laid off about 30...

Foreign stocks hit with one-two punch; Rising dollar, falling markets roil diversification strategy, but some advisers see bargains.(News)
November 3, 2008... Byline: Dan Jamieson Advisers are struggling to deal with clients' exposure to foreign stocks. While the Standard & Poor's 500 stock index was off 35.02% year-to-date through last Thursday, foreign markets had done even worse. The...

IRS to focus on improved income reporting; Rising budget deficit forces government to look for more revenue.(News)
November 3, 2008... Byline: Sara Hansard The Internal Revenue Service intends to make better use of the information it receives from taxpayers and also will be looking for more income reporting from third-party entities, the agency's commissioner said last...

Time is ripe to rethink ratings game.(Viewpoint)
November 3, 2008... Many institutions and individuals share responsibility for the mortgage crisis and the meltdown that followed: Congress, several successive presidential administrations, top executives at Fannie Mae of Washington and Freddie Mac of McLean, Va.,...

SEC and Finra differ from states on personal data encryption; Fragmented regulations worry some market participants.(Tech Update)
November 3, 2008... Byline: Davis D. Janowski National and state securities regulators disagree over the use of encryption in storing and communicating client information. The Financial Industry Regulatory Authority Inc. and the Securities and Exchange...

Adviser looks to the South Pacific; He gains the trust of Social Security agency in the Marshall Islands.(News)
November 3, 2008... Byline: Jed Horowitz Frank C. Armstrong III was surfing the Internet and sipping his Saturday-morning coffee six years ago when he received an unexpected e-mail. Saane Aho, administrator of the Marshall Islands Social Security...

Slump slams college plans.(Short Interests)
November 3, 2008... Byline: Andrew Coen The economic downturn is now affecting America's future leaders. Many college-bound students are putting higher education plans on hold or eyeing less prestigious schools that are more affordable, a new study...

Financial woes may create a new generation of savers; Falling wealth may have long-term impact on savings and spending.(News)
November 3, 2008... Byline: Liz Skinner Even though the sky is not falling, many Americans are in a panic over their tumbling finances. The noxious combination of the slumping economy, increasing unemployment and hideous stock market volatility may even...

New LTC products are designed to lure clients; Focus is on those who haven't been buying the insurance.(News)
November 3, 2008... Byline: Darla Mercado Innovative long term care insurance products are on the horizon as the industry seeks to appeal to more clients. Market participants realize that offering hybrid products and new forms of coverage would help...

IN events.(Short Interests)
November 3, 2008... Nov. 5 Special adviser webcast: What the new administration will mean for investors A post-election analysis with leading strategists. Moderators: Evan Cooper, InvestmentNews deputy editor, and Sara Hansard, InvestmentNews Washington...

Women frequently discuss money with their daughters; 94% do, while just 54% did with their own moms, new study shows.(News)
November 3, 2008... Byline: Lisa Shidler Mothers and daughters are talking more about financial topics than previous generations did, and industry leaders say that this is a positive step to help women bolster their savings, according to a new study. ...

New index takes quantitative approach to sector plays; Sitting on sidelines unnecessary with neutral, objective plan.(News)
November 3, 2008... Byline: Janet Morrissey A financial advisory firm is betting that investors who use a quantitative formula - rather than emotion and panic - to move in and out of stocks will get through Wall Street's roller coaster ride with their...

People.
November 3, 2008... MFC Global Investment Management LLC of Boston has hired Dennis McCafferty, 35, as an analyst and member of the high-yield and strategic-bond teams. Previously, he was a principal and senior analyst at New York-based hedge fund Pardus...

RJ considers foray into asset management business; Smaller firms, units of banks are likely to be in play.(News)
November 3, 2008... Byline: Bruce Kelly Raymond James Financial Inc. is entering the market to acquire an asset management shop at the right time, industry observers said last week. Because of the upheaval in the financial services industry, the St....

A for Adviser as more head back to the schoolroom; Extra designations help them make the grade.(News)
November 3, 2008... Byline: Aaron Siegel Hard times in the financial industry are compelling advisers to go back to school. Several of the industry's educational institutions have reported an increase in the number of inquiries from advisers who want to...

BofA-Merrill retention plan raises serious legal concerns; Buyout resurrects issues involving discrimination, broker recruiting.(News)
November 3, 2008... Byline: Bruce Kelly With the recent release of the details of its retention bonus plan for brokers, Merrill Lynch & Co. Inc. has stirred up a cauldron of legal problems, ranging from the potential revival of the practice of suing brokers...

To cushion tax shock, advisers urged to act; Investors experience heavy losses, distributions.(News)
November 3, 2008... Byline: Jeff Benjamin As mutual fund investors brace for a likely double whammy of negative performance, coupled with above-average income and capital gains distributions, financial advisers are homing in on all manner of tax management to...

Market mess greets stunned new advisers; Daunting challenges are coupled with rare learning opportunities.(News)
November 3, 2008... Byline: Charles Paikert A.J. Anable thought he was as prepared for a career as a financial adviser as any 23-year-old possibly could be. Having relatives who worked in financial services, he grew up around the business and had heard...

The week ahead.(Short Interests)(Calendar)
November 3, 2008... Nov. 3 The Institute for Supply Management's manufacturing index for October is slated for release at 10 a.m. ET. September data on construction spending will be released at 10 a.m. ET. Nov. 4 Factory order data for September...

Most advisers prefer working for a national firm; Employee benefits, access to technology are cited in survey.(News)(Survey)
November 3, 2008... Byline: Andrew Coen Seven in 10 financial advisers prefer working for a nationally recognized company over an independent advisory firm, according to a yet-to-be-released survey. "Financial representatives are looking for a brand name...

Social Security recipients face erosion of buying power; Medicare hikes, rise in tax liability to undermine COLA.(News)
November 3, 2008... Byline: Andrew Coen Inflation adjustments have historically been a valuable tool for calculating Social Security benefits, but the recent rise in Medicare premiums, combined with an increase in the chance that beneficiaries will have to...

Bailout delays, chaos crimp stock market; 'Is the Treasury Department playing chess or are they playing Whac-A-Mole?'.(News)
November 3, 2008... Byline: Janet Morrissey The government's delay in purchasing distressed mortgage-related securities - as promised in the $700 billion bailout package - is driving the stock market's continued downward spiral, according to observers. ...

Regionals, independents see light in wirehouse gloom; Smaller brokerage firm execs say their model, despite slump, is strong.(News)(Conference notes)
November 3, 2008... Byline: Jed Horowitz Regional and independent brokers such as LPL Financial, D.A. Davidson & Co., Raymond James Financial Inc. and Stifel Financial Corp. are thriving while brawnier brokers struggle, but the firms' executives have deep...

Fund managers shift focus to risk; Recent performance suggests that volatility was a misleading metric.(News)
November 3, 2008... Byline: David Hoffman Recent market volatility is forcing mutual fund managers to pay more attention to how much risk they are taking in their portfolios and to focus more on balance sheets. The change in strategy may improve...

Single-family offices moving forward on hedge funds; Market's meltdown doesn't deter them, according to study.(News)
November 3, 2008... Byline: Andrew Coen Advisers for ultrawealthy investors are bullish on hedge funds, with many planning to increase their allocations to the alternative investments next year, according to a new study. A majority (58%) of single-family...

Dismissing arbitration cases could become harder; SEC likely to approve prohibition of pre-case motions to dismiss.(News)
November 3, 2008... Byline: Dan Jamieson The Securities and Exchange Commission is expected to approve a controversial rule that would make dismissing arbitration cases more difficult. The rule, proposed last March by the Financial Industry Regulatory...

FUND COMPANIES REACH OUT TO HARRIED ADVISERS; They're providing events, handouts, even new leads.(Special Report: 401(k) Market Overview)
November 3, 2008... Byline: Lisa Shidler Fund companies and service providers are offering webinars, seminars and handouts to help advisers handle the onslaught of questions they're getting from 401(k) participants and employers in this volatile market. ...

At the bell.(News)
November 3, 2008... Bernanke rethinks Fannie and Freddie Washington-based Fannie Mae and McLean, Va.-based Freddie Mac need to be retooled in order to create a robust home-lending market that would work even during a credit crunch, Federal Reserve Board...

SIFMA to sue if short-sale vote wins; Naked short selling on South Dakota ballot.(News)
November 3, 2008... Byline: Sara Hansard The Securities Industry and Financial Market Association will file a lawsuit against South Dakota if voters there approve a ballot initiative tomorrow that the group claims would effectively ban all short selling. ...

Golden parachutes may be sole target of Treasury curbs; Other forms of compensation at banks not expected to be affected.(News)
November 3, 2008... Byline: Sue Asci Restrictions on compensation that the Department of the Treasury is placing on senior executives at banks and other financial services companies as part of the federal bailout program will limit severance packages, though...

Closing quote.(Short Interests)
November 10, 2008... "The tax increase will be significant, and it's going to be a lot more than anything he campaigned on." -Stuart Sweet, president of Capitol Analysts Network Inc. of Washington, predicting what will occur during the administration of President...

Correction.(Correction notice)
November 10, 2008... An item on the People page in the Nov. 3 issue incorrectly referred to the Chicago-based firm Robert W. Baird & Co. as Baird & Warning Holding Co. In addition, the firm has appointed Ross Baumgarten first vice president, financial adviser at,...

What's new on investmentnews.com.(Short Interests)
November 10, 2008... /WealthTrack Thomas Gallagher of the ISI Group on the new landscape for investors. /whitepapers Are retirement accounts too tied to the markets? /INPractice Rev up your Harley for a client event. Top web stories viewed Oct. 31-Nov. 6 ...

Online opinion poll.(Short Interests)
November 10, 2008... Previously, we asked you: What is your strategy for foreign securities? Hold: 46.8% Buy: 33.9% Sell: 19.4% 47% of 186 readers said hold. Vote now! Visit investmentnews.com/poll to respond to this week's question.

Target spinoff proposal seen as ill-timed; But the shareholder plan for land holdings could be attractive down the road, some say.(News)
November 10, 2008... Byline: Janet Morrissey An activist shareholder plan that calls for retailing giant Target Corp. to spin off its land holdings into a real estate investment trust is being criticized as ill-timed. But many observers think that the...

A mutual fund for turbulent times; Permanent Portfolio holds variety of assets aiming for a smooth ride.(Street Wise)
November 10, 2008... Byline: Jeff Benjamin During this period of extreme stock market volatility and credit market uncertainty, the case for a broadly diversified portfolio that avoids market valleys - and probably won't soar to market peaks, either - might be...

As employers tighten belts, clients urged to do the same; Advisers tell them to cut back on 'the luxury stuff'.(News)
November 10, 2008... Byline: Andrew Coen Employers are going to be less generous with pay raises and bonuses next year, according to a new study. And the prospect of employees' coming home with smaller-than-anticipated paychecks next year is prompting...

'Unbundled' 401(k) providers to expand offerings; Small companies like having choices from many sources.(News)
November 10, 2008... Byline: Lisa Shidler More than half of employers that offer "unbundled'' 401(k) plans intend to add to their lineup of investment options over the next year, according to a new report. The report, which was released Oct. 29 by...

Will stocks rise in '09?(Short Interests)
November 10, 2008... Byline: Andrew Coen The stock market historically has risen more during the first year under Democratic presidents than the first year under Republican presidents, according to data released last month by Savant Capital Management Inc. ...

S&P pushes dividend-paying investments; Firm expands its index series internationally.(News)
November 10, 2008... Byline: David Hoffman Choppy markets highlight the importance of owning dividend-paying investments that can smooth out volatility. That is the message that Standard & Poor's in New York is trying to get across as it expands its...

S.D. voters nix proposal to ban naked short sales.(News)
November 10, 2008... Byline: Aaron Siegel The citizens of South Dakota have voted down a measure that would have banned all naked short selling in the state. The resolution, known as Measure No. 9, or "The South Dakota Small Investor Protection Act,'' got...

BofA agrees to protocol on recruitment; Move to make exits easier cuts anxiety among Merrill reps.(News)
November 10, 2008... Byline: Bruce Kelly In an effort to calm anxious Merrill Lynch brokers, Banc of America Investment Services Inc. said last week that it would abide by the rules of the so-called "protocol for recruiting brokers'' after Bank of America...

Advisers doubt Obama; With Democrats in power, many fear tax hits to high-income households.(News)
November 10, 2008... Byline: Sara Hansard The majority of financial advisers have little faith in President-elect Barack Obama's ability to put the nation back on sound economic footing. An exclusive InvestmentNews survey of 968 advisers last week found...

Prime numbers.
November 10, 2008... Go figure 0.125552709: The divisor for the Dow Jones Industrial Average, which is applied to the sum of 30 stock prices. Source: Barron's $1.778T: The combined client assets of Fidelity Investments' retail-brokerage firm, Fidelity...

IN events.(Short Interests)
November 10, 2008... Nov. 18 Adviser-to-adviser webcast: "Valuing and Selling your Practice'' Leading advisers discuss how to transition the business. Panelists: David Grau, Sam Hull and Earl McMahan Moderators: Evan Cooper, InvestmentNews deputy...

Financial services companies expect litigation to increase; Half anticipate more actions in 2009, new survey reveals.(News)
November 10, 2008... Byline: Bruce Kelly Many financial services companies and insurers are bracing for an increase in litigation next year, with the credit crisis and the collapse in the subprime-mortgage market leading the way as catalysts, according to a...

Think bigger on credit swaps, federal regulators urged; Progress seen on clearinghouse to shed light on market.(News)
November 10, 2008... Byline: Neil Roland The formation of a clearinghouse for the murky credit default swaps market appears just months away now that two derivatives exchanges have moved closer to becoming a reality. But analysts said that while a...

At the bell.(News)
November 10, 2008... Unemployment rises to 6.5%, a 14-year high The jobless rate shot up to 6.5% last month, marking its highest level in 14 years, according to the Department of Labor. That compared with an unemployment rate of 6.1% in August and...

Greenback's comeback may be over; Signs point to weakness after eight-month rally.(News)
November 10, 2008... Byline: David Hoffman Mutual funds and exchange traded funds that make dollar bets continued to turn in great returns last week despite concerns among some industry watchers that an eight-month U.S. dollar rally is winding down. The...

National Financial Partners and its firms struggle; Third-quarter earnings plunged 68.3%; share price is battered.(News)(Financial report)
November 10, 2008... Byline: Jed Horowitz National Financial Partners Corp., the amalgamator of financial planning firms whose shares have plunged 90.7% in the past 52 weeks, is renegotiating its bank credit lines, suspending its dividend and share buybacks...

Crashes at clearing firms sidelined brokers in Sept. Pershing, NFS suffered clogged order pipelines.(News Analysis)
November 10, 2008... Byline: Jed Horowitz Once again, it is about the plumbing. Under heavy volume pressure, systems ensuring that trade orders are properly recorded and processed failed on a crucial day in mid-September, reviving fears of a...

At asset management firms, there will be blood; River of pink slips just beginning to flow.(News)
November 10, 2008... Byline: David Hoffman As asset managers position themselves for 2009, the steady stream of pink slips that started to flow last month is expected to continue. "I would say most firms are at the beginning of that process,'' said Robert...

The week ahead.(Short Interests)(Calendar)
November 10, 2008... Nov. 10 SIFMA recommends an early close for the bond market at 2 p.m. ET ahead of the Veterans Day holiday tomorrow. Financial Services Standards LLC's two-day 401(k) Service Training Program begins today in Pittsburgh. Nov. 11...

Illinois' Treasury acts to boost visibility of 529 plans; Treasurer Giannoulias uses catchy marketing to lure clients.(News)
November 10, 2008... Byline: Charles Paikert One of the bright spots in an otherwise difficult year for the Section 529 college savings plan industry has been the aggressive efforts of Alexi Giannoulias, Illinois' dynamic young state treasurer, to boost the...

Advisers crave direction from wholesalers; Quality of content and information is what counts most.(News)
November 10, 2008... Byline: Sue Asci Advisers, hungry for market information in this troubled environment, are turning to asset managers for help. And those not responding with timely information may suffer for it, according to a recent survey of adviser...

Pitt proposes blue-ribbon regulation task force; Former SEC head thinks private-sector experts should create rules, not Congress or administration.(News)
November 10, 2008... Byline: Aaron Siegel A private-sector task force of experts should create the framework of a new financial regulatory structure, rather than Congress or the next administration, according to Harvey Pitt, a former chairman of the Securities...

Annuities: Good news and bad news; Guarantees, attractive to investors, may strain insurers' capital.(News)
November 10, 2008... Byline: Darla Mercado Insurance companies and distributors face major changes for risk management and product development as variable annuities and their guarantees pressure insurers' risk-based capital, industry experts said. The...

Morgan Keegan faces mass of bond fund claims; Damages could surpass $200 million.(News)
November 10, 2008... Byline: Dan Jamieson Plaintiff's attorney Bill Gladden thought he had handled his last investor arbitration case when he retired in February. But a flood of claims arising from the $2 billion blowup of the Regions Morgan Keegan Select bond...

Despite market turmoil, consumers seek life insurance; They're seen as likely to be more realistic about coverage levels.(News)
November 10, 2008... Byline: Darla Mercado Carriers may be going through their own tumult, but that hasn't stopped clients from seeking life insurance coverage, according to agents and advisers. Insurers are coming out of a rocky third quarter in which...

Agents: SEC oversight not needed for EIAs; They have performed better than the stock market.(News)
November 10, 2008... Byline: Dan Jamieson Insurance agents are blasting a controversial Securities and Exchange Commission proposal to classify equity index annuities as securities. Under pressure from both the insurance industry and some members of...

Realty execs expect declines.(Short Interests)
November 10, 2008... Byline: Janet Morrissey According to a survey of more than 2,300 real estate executives conducted in mid-October, most believe that commercial-real-estate values will decline over the next year, but most plan to be in the market hunting...

Big mutual funds stumble in market collapse; At 71 of 100 top funds, active managers underperform index.(News)
November 10, 2008... Byline: Sue Asci It isn't easy managing a big mutual fund these days. Of the 100 biggest actively managed U.S. stock funds that measure themselves against the Standard & Poor's 500 stock index, 71 have underperformed the benchmark's...

Tech spending to rise despite economic woes; Firms recognize need to improve systems.(Tech Update)
November 10, 2008... Byline: Davis D. Janowski Financial services companies continue to increase their technology spending despite rocky markets and an anemic economy. For instance, Raymond James Financial Services Inc. will increase its technology...

Fund manager focuses on valuation, fundamentals; Sees opportunities in energy, metals and certain REITs.(News)
November 10, 2008... Byline: Janet Morrissey It is all about valuation and company fundamentals for fund manager Michael Cuggino as he rummages through the battered markets looking for investment bargains. Mr. Cuggino, president and portfolio manager of...

Carrier failures could make B-Ds liable; Lawyers mull adviser liability for assessing a carrier's strength.(News)
November 10, 2008... Byline: Darla Mercado Broker-dealers, registered representatives and advisers could be on the hook if they sell products from major carriers whose risk-based capital is crumbling, plaintiff's attorneys say. Last month, insurance...

Saving for retirement is getting tougher.(Short Interests)
November 10, 2008... Byline: Aaron Siegel Just over half of Americans are investing in a retirement plan, but the tumultuous financial markets are making it a more arduous task, according to a new survey. Slightly more than one-third of Americans (34%)...

Obama must first fix a struggling economy.(Viewpoint)
November 10, 2008... President-elect Barack Obama deserves congratulations - and a warning to be careful what you wish for in this life. To be sure, he made some great speeches along the campaign trail. But now comes the real test. Mr. Obama's plans of action...

Advisers fret that clients will trim 401(k) participation if matches are cut; Will G.M.'s elimination of contributions have a domino effect?(News)
November 10, 2008... Byline: Lisa Shidler Financial advisers are worried that if more employers eliminate 401(k) matches, it will cause already cash-strapped and worried clients to reduce or halt their contributions. Their concern comes on the heels of an...

SMAs ranked by third-quarter returns; Third-quarter commentary.(Separate Accounts)
November 10, 2008... Byline: Gib Watson ***** Correction: In the Nov. 10 issue that featured separately managed account data, the location of Lazard Asset Management LLC in the chart for international equity should have been listed as New York. In the...

Obama administration inherits many challenges; Economy and homeland security are pressing issues; financial regulation not a 'top-tier' concern.(Special Report: Election Webcast)
November 17, 2008... InvestmentNews presented a webcast Nov 5: "What the Obama Administration Will Mean for Investors." It was moderated by deputy editor Evan Cooper and Washington bureau chief Sara Hansard. Panelists Evan Cooper, Deputy editor,...