Why investors should stop buying the biggest funds

Why investors should stop buying the biggest funds

Our analysis of peformance shows why investors should look to smaller funds for the best returns, rather than the bigger, more well-known ones

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By Richard Evans, Investment Editor

7:47AM GMT 08 Mar 2014

“Past performance is no guide to the future.” How many investors overlook that ubiquitous warning when they think they have identified a brilliant fund manager? But there may be very good – and unappreciated – reasons why they should take heed. Read more of this post

This Is Why It Feels Like Apple Stopped Innovating Three Years Ago

This Is Why It Feels Like Apple Stopped Innovating Three Years Ago

NICHOLAS CARLSON TECH  MAR. 8, 2014, 10:07 PM

Steve Jobs used to call the computer a bicycle for the mind. Apple’s always been best at the pedals and handle bars. Read more of this post

Are Small Investors a Sell Signal?

Are Small Investors a Sell Signal?

The case for a market top isn’t that clear-cut.

JOE LIGHT

March 7, 2014 1:50 p.m. ET

David Avery used to keep half his 401(k) account in bonds and cash. Last year, the 35-year-old computer programmer moved his entire portfolio into stocks, with one recent purchase being Enanta PharmaceuticalsENTA -1.05% a small biotechnology company that posted a loss last quarter. Read more of this post

Missing jet a big blow for struggling Malaysia Airlines

Missing jet a big blow for struggling Malaysia Airlines

POSTED: 08 Mar 2014 20:02
Malaysia Airlines, which was rocked Saturday by the disappearance of one of its planes, has long been a respected name in regional aviation, enjoying an enviable safety record. Read more of this post

lmost all big Chinese cities’ air below standard

Almost all big Chinese cities’ air below standard, says offical

POSTED: 08 Mar 2014 20:42
Air quality was below national standards in almost all of China’s major cities last year, a top environment official said on Saturday, after Premier Li Keqiang pledged to “declare war” on pollution. Read more of this post

A Chess Master Scans the Market for a Checkmate; Grandmaster Capital’s Patrick Wolff discusses strategy, stocks he likes and dislikes, and his global outlook

SATURDAY, MARCH 8, 2014

A Chess Master Scans the Market for a Checkmate

By LAWRENCE C. STRAUSS | MORE ARTICLES BY AUTHOR

Grandmaster Capital’s Patrick Wolff discusses strategy, stocks he likes and dislikes, and his global outlook.

Patrick Wolff’s résumé includes two U.S. chess championships, first in 1992 and again in 1995, when playing professionally during his time off from college. The Harvard-educated philosophy major earned the distinction of grandmaster, an elite level. Nowadays, Wolff, 46 years old, is running Grandmaster Capital Management, a hedge-fund firm in San Francisco overseeing about $230 million. And though he doesn’t play professionally any longer, he hasn’t stored his chessboard in the attic just yet. In recent years at Berkshire Hathaway’s annual meeting, Wolff, wearing a blindfold, has played multiple chess games simultaneously. Read more of this post

Beware 3-D Printing! The new technology may hold great promise, but the stocks do not. Why the industry darling could tumble 80%.

SATURDAY, MARCH 8, 2014

Beware 3-D Printing!

By ALEXANDER EULE | MORE ARTICLES BY AUTHOR

The new technology may hold great promise, but the stocks do not. Why the industry darling could tumble 80%.

It was meant to be the moment science fiction finally met reality. This past January, makers of 3-D printers reserved 7,000 square feet worth of space at the Consumer Electronics Show. At their introductory press briefing, CES organizers described how 3-D printing was driving a new industrial revolution. The Las Vegas show floor was littered with small boxes spitting out plastic figurines and minimalist jewelry. Not exactly the stuff of a new world order in manufacturing, perhaps, but the tech world nevertheless declared 2014 the year of the 3-D printer. Read more of this post

Life in the world’s most expensive city

Updated: Saturday March 8, 2014 MYT 7:24:08 AM

Life in the world’s most expensive city

BY SEAH CHIANG NEE

SINGAPOREANS will likely huddle around their TV sets in June to watch World Cup soccer – but only if they pay, once again, a fee higher than anyone else on earth. Read more of this post

Why companies drive away their talents

Updated: Saturday March 8, 2014 MYT 2:21:17 PM

Why companies drive away their talents

BY EUGENE MAHALINGAM

Vogiatzakis: ‘It is not all about the money as there is always someone who will offer more.’ Read more of this post

Walt Disney, Shanghai Media Group to develop Disney-branded movies

Anti-graft party takes aim at Modi’s economic model

Friday, March 7, 2014 – 21:36

Reuters

NEW DELHI – Bharatiya Janata Party’s (BJP) Narendra Modi, who leads opinion polls ahead of next month’s general election, faces pressure from anti-graft Aam Aadmi Party (AAp) attacking his economic model on his home turf, the thriving state of Gujarat. Read more of this post

Baidu-led partnership applies for China banking license

Baidu-led partnership applies for China banking license

Fri, Mar 7 2014

BEIJING (Reuters) – Baidu Inc has formed a partnership to apply for a private banking license, as China’s biggest search engine provider moves from acting as a store front for money market funds to a certified financial institution. Read more of this post

Korean economic team blasted for inconsistency

Korean economic team blasted for inconsistency

Friday, March 7, 2014 – 10:06

Kim Yon-se

The Korea Herald/Asia News Network

The Park Geun-hye administration appears to be discontented with the economic policies created by Deputy Prime Minister and Finance Minister Hyun Oh-seok. Read more of this post

Western Businesses in Russia, Watchful and Wary

Western Businesses in Russia, Watchful and Wary

By LIZ ALDERMANMARCH 7, 2014

PARIS — Shortly after pro-Russian troops infiltrated Crimea last weekend, the phone in Alexis Rodzianko’s Moscow office started ringing. He is president of the American Chamber of Commerce in Russia, and local managers for some of the world’s biggest brands were calling to discuss the safety of their operations and the risks that might arise if the West were to impose sanctions. Read more of this post

In Safeway Buyout, a Reminder of a Painful Takeover Years Ago; More than two decades ago, the grocery store chain became a potent symbol of the human toll sometimes extracted when private equity uses large amounts of debt

MARCH 7, 2014, 2:18 PM  3 Comments

In Safeway Buyout, a Reminder of a Painful Takeover Years Ago

By WILLIAM ALDEN

Safeway, the latest target of abig private equity buyout, once caused a huge headache for the private equity industry. Read more of this post

Costco’s Bulking Up Its Moat

Costco’s Bulking Up Its Moat

By Ken Perkins | 03-07-14 | 06:00 AM | Email Article

 Costco (COST) reported second-quarter results that were slightly below our expectations on the top line, and margins were also a bit weaker than we expected. However, a closer look at the results leaves us confident that Costco’s bargaining power, highly efficient operations, and loss-leader capabilities will allow the firm to outperform many retail peers, and we are maintaining our narrow Morningstar Economic Moat Rating with a positive trend, as well as our $120 fair value estimate. Read more of this post

boohoo.com valued at 560 million pounds in London listing

boohoo.com valued at 560 million pounds in London listing

4:17am EST

LONDON (Reuters) – British online fashion retailer boohoo.com will list on London’s AIM market next week with a market capitalization of 560 million pounds ($936 million) after tapping into current investor appetite for internet retail stocks. Read more of this post

In twist, Mexico says non-telecom Slim firms dominate telecoms

In twist, Mexico says non-telecom Slim firms dominate telecoms

6:12pm EST

By Alexandra Alper and Tomas Sarmiento

MEXICO CITY (Reuters) – Mexico’s telecoms regulator on Friday declared two of billionaire Carlos Slim’s major financial and industrial companies “dominant” in telecommunications, but has yet to slap the tag on Slim’s flagship telecom company. Read more of this post

An Interview With Behavioral Investing Expert Michael Mauboussin

An Interview With Behavioral Investing Expert Michael Mauboussin

By Matt Koppenheffer | More Articles
March 1, 2014 | Comments (6)

As Managing Director and Head of Global Financial Strategies at Credit Suisse, Michael Mauboussin advises clients on valuation and portfolio positioning, capital markets theory, and competitive strategy analysis. He has also authored three books — Think TwiceThe Success Equation, and More Than You Know — and is an adjunct professor of finance at the Columbia Business School, and chairman of the Board of Trustees at the Santa Fe Institute. Read more of this post

The World Loses a Great Investor, CalPERS CIO Joseph Dear

The World Loses a Great Investor

By Morgan Housel | More Articles
February 27, 2014 | Comments (5)

A year ago, I traveled to California with colleagues Brian Richards and Rick Engdahl to interview some of the world’s sharpest economic thinkers, including PIMCO CEO Mohamed El-Erian and former Mitt Romney adviser John Taylor of Stanford University.  Read more of this post

How Designer Microbes and the Organism Industry Will Reshape Our World

How Designer Microbes and the Organism Industry Will Reshape Our World

By Maxx Chatsko | More Articles
March 2, 2014 | Comments (0)

What would a computer be without transistors? Well, not much. A similar question can be asked of next-generation industrial biotech platforms enabled by synthetic biology: What would Solazyme (NASDAQ: SZYM  ) , Amyris (NASDAQ: AMRS  ) , or any other industrial biotech company be without organisms? And again, a similar conclusion is reached. It may not be obvious from the early days of synthetic biology, but several loose, general terms and businesses used to describe the development of highly optimized custom microorganisms will eventually be combined into one well-defined industry: the organism industry. Read more of this post

Profits, Purpose, and the Power of Admiration

Profits, Purpose, and the Power of Admiration

By Alyce Lomax | More Articles
March 3, 2014 | Comments (4)

Which American companies are among the best choices for long-term investors? One answer is seeking out the companies that are the most admired — and inspired to make real innovative change. Read more of this post

3 Award-Winning Investing Lessons From the Oscars

3 Award-Winning Investing Lessons From the Oscars

By David Williamson | More Articles
March 2, 2014 | Comments (1)

Sunday night’s 86th annual Academy Awards didn’t disappoint, crowning 12 Years a SlaveBest Picture, while handing out numerous wins to Dallas Buyers Club and Gravity. This group of Oscar nominees didn’t fail to deliver — with groundbreaking cinematography, strong social commentary, and important investing advice.  Read more of this post

From Startup to Billion-Dollar Biotech: An Inside Look at Vertex Pharmaceuticals

From Startup to Billion-Dollar Biotech: An Inside Look at Vertex Pharmaceuticals

By Max Macaluso | More Articles
February 27, 2014 | Comments (0)

Vertex Pharmaceuticals (NASDAQ: VRTX  ) is a rare biotech success story. Started in 1989 by chemist Joshua Boger, the company was fueled for many years by three key ingredients: a unique approach to drug discovery, the tenacious dedication of a small group of scientists, and an ambitious long-term vision. It took decades for Vertex to translate its research and development efforts into FDA approved products. Investors who were early believers in the biotech’s mission and willing to take on risk, however, have been rewarded for their patience; shares are up more than 1,760% since the stock’s IPO in 1991. Read more of this post

Clean energy: Let the sun shine; The future is bright for solar power, even as subsidies are withdrawn

Clean energy: Let the sun shine; The future is bright for solar power, even as subsidies are withdrawn

Mar 8th 2014 | IVANPAH VALLEY, CALIFORNIA, AND LEXINGTON, NORTH CAROLINA | From the print edition

FORTY-FIVE minutes west of Las Vegas, dejected sinners may encounter a sight to lift their sunken hearts: a sea of 347,000 mirrors, reflecting the rays of the desert sun on to boilers mounted on three 460-foot towers. The Ivanpah solar-thermal plant (pictured), which opened in mid-February, is the largest of its kind in the world. Fully ramped up, it will deliver around 377 megawatts (MW) of power to 140,000 homes in southern California. Its backers compare it to the nearby Hoover Dam; an astronaut claims to have spotted it from the international space station. It is a striking sight, even if the heat from its heliostats has roasted dozens of unfortunate birds alive. Read more of this post

Devolving power: Big batteries threaten big power stations—and utilities’ profits

Devolving power: Big batteries threaten big power stations—and utilities’ profits

Mar 8th 2014 | From the print edition

WHO needs the power grid when you can generate and store your own electricity cheaply and reliably? Such a world is drawing nearer: good news for consumers, but a potential shock for utility companies. That is the conclusion of a report this week by Morgan Stanley, an investment bank, which predicts that ever-cheaper solar and other renewable-energy sources, combined with better and more plentiful batteries, will allow many businesses and other electricity users to cut the cord on their electricity providers. Read more of this post

Business in emerging markets: Emerge, splurge, purge; Western firms have piled into emerging markets in the past 20 years. Now comes the reckoning

Business in emerging markets: Emerge, splurge, purge; Western firms have piled into emerging markets in the past 20 years. Now comes the reckoning

Mar 8th 2014 | From the print edition

VODAFONE’S latest figures appear at first glance to vindicate the most powerful management idea of the past two decades: that firms should expand in fast-growing emerging economies. Sales at the mobile-phone company fell in the rich world while those in the developing world rose smartly. Corporate strategy is usually a contentious subject: there are fierce debates about how big, diversified and financially leveraged firms should be. But geography has seduced everyone. Vodafone is one of countless Western companies that have bet on the developing world. Read more of this post

Why Sony’s pocket analog radio, known by the bland model number SRF-39FP, is the iPod of prison

JANUARY 16, 2014

THE IPOD OF PRISON

POSTED BY JOSHUA HUNT

In early 2005, Josh Demmitt arrived at a federal prison camp, in Sheridan, Oregon, to serve a thirty-month sentence for starting a fire outside an animal-testing facility at Brigham Young University. The nineteen-year-old received a warm welcome from his fellow inmates, who greeted him with coffee and cigarettes, advice on procuring vegan meals, and a pocket AM/FM radio. Read more of this post

Helvetica: one font to rule them all; For the past 50 years Helvetica has dominated design. But, now its pioneer Mike Parker has passed away, is the era of this sleek, modernist typeface drawing to a close?

Helvetica: one font to rule them all

For the past 50 years Helvetica has dominated design. But, now its pioneer Mike Parker has passed away, is the era of this sleek, modernist typeface drawing to a close?

Steve Rose

The Guardian, Tuesday 4 March 2014 19.00 GMT

Helvetica can be seen on the New York subway system and in countless other instantly recognisable lo

Helvetica can be seen on the New York subway system and in countless other instantly recognisable logos. Photograph: Justin Lane/EPA Read more of this post

Follow SEEK and carsales.com into Asia, Andrew Bassat urges entrepreneurs

Follow SEEK and carsales.com into Asia, Andrew Bassat urges entrepreneurs

Published 07 March 2014 13:04, Updated 07 March 2014 13:17

Jake Mitchell and Madeleine Heffernan

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Seek chief executive Andrew Bassat

SEEK chief executive Andrew Bassat has challenged more Australian companies to embrace the risk of expanding into Asia, afterCarsales.com sealed a $126 million foray into the South Korean car classified market. Read more of this post

How Maureen Wheeler recovered her sense of self after selling Lonely Planet

Fiona Smith Columnist

How Maureen Wheeler recovered her sense of self after selling Lonely Planet

Published 08 March 2014 00:01, Updated 08 March 2014 00:06

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Maureen Wheeler realised how much of her identity was tied up in the job after selling Lonely Planet. Photo: James Davies Read more of this post