A hard life for bulls

Article Abstract:

Goldman Sachs' Abby Cohen has long been optimistic about stock prices, but the investment bank has decided against carrying out a stock flotation. Cohen is likely to become a partner of Goldman Sachs, which has created 160 new directors, all eligible to become partners who will benefit when a stock flotation occurs. Cohen argues that psychology has changed, rather than economic fundamentals, and that stocks may still rise. Some of Cohen's clients are less reassured by her views than previously.

Goldman Sachs and Co., Securities

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Desperately seeking safety: fund management

Article Abstract:

The collapse of investment banker Barings has made mutual fund managers rethink their investment strategies. They are making sure their client's money is as safe as possible by restricting how banks may use funds that they put on deposit. Many are protecting investments with greater diversification.

Investments, Public opinion

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Funds and games: recent scandals in the fund-management industry are in danger of making regulators over-react

Article Abstract:

The recent scandals involving Morgan Grenfell Asset Management's Peter Young and Jardine Fleming's Colin Armstrong have pointed up the need for mutual funds to change practices such as allowing personal accounts. If the mutual funds do not take action, regulators will clamp down on the industry.

Editorial, Laws, regulations and rules, Securities industry, Securities fraud

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