Diversification myth risks in portfolio management
The piece argues that while diversification is a virtue in investing, overdoing it can mask risk. It cautions against relying on asset allocation alone to erase risk, notes dangers in emerging markets and global funds, and stresses understanding risks even with cross border holdings and varied asset classes. The commentary includes warnings from analysts about long term gains versus current risk, and the illusion of safety through broad diversification.
MENTIONED IN THIS ARTICLE
U.S. Treasury
United States
Greg Smith
Prudential Securities
Michael Lipper
Lipper
Japan
Dow closes above 3800 as volume soars amid mixed optimism
The Dow Jones rose 5.06 to 3,803.88 in a volatile session, a new high that many analysts deem not supportive of a broad market advance. About 367.9 million shares traded on the Big Board, part of a weekly total surpassing 1.37 billion as fund money floods the market, yet experts warn the move lacks broad participation and signals a possible rotation.
MENTIONED IN THIS ARTICLE
New York
Dow Jones
Dow
New York Stock Exchange
Larry Wachtel
Prudential Securities Inc
Bargains lift retail sales but trim profits across majors
Major retailers reported December sales gains led by Sears 13.3 percent and Penney 12.3 percent while price cutting and promotions eroded margins. Shoppers stayed price conscious as advertising surged with Penney spending 60 million during Christmas. Monthly same store figures showed varied gains and some chains like Macy's and Montgomery Ward did not report monthly data.
MENTIONED IN THIS ARTICLE
Sears, Roebuck
Kmart
Duncan Muir
J.C. Penney
Dallas
Muir
Penney
Salomon Brothers
R.H. Macy & Co. Inc
Montgomery Ward & Co
Bankruptcies dip for first time in nine years
U S bankruptcy filings fell 0.2 percent in fiscal 1993 to 897,231 from 977,478 the prior year as the economy recovered. quarterly totals stayed below year-ago levels across all four quarters, with the largest drop of 13.5 percent in the Eighth Circuit. The Midwest also showed strength post recession.
MENTIONED IN THIS ARTICLE
Washington
U.S
Administrative Office
The
United States Courts
Arkansas
Iowa
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
Midwest
Colorado
Kansas
New Mexico
Oklahoma
Utah
Wyoming
Mortgage rates rise to 7.23 percent on 30-year loans
The Federal Home Loan Mortgage Corp reports this week’s average 30-year fixed rate at 7.23 percent, up from 7.13 percent prior and below 7.31 percent at end November. One-year ARMs average 4.23 percent, up from 4.20. 15-year mortgages average 6.74 percent, up from 6.63. Rates exclude points fe es.
MENTIONED IN THIS ARTICLE
Federal Home Loan Mortgage Corp
GM to hire up to 2000 engineers this year
General Motors Corp in the final stages of a large downsizing that cut tens of thousands of jobs will hire up to 2,000 engineers this year to meet rising demand for new cars and trucks. Chief executive officer Jack Smith said GM also earned a net profit on a consolidated basis in 1993, its first since the $4.2 billion loss in 1989, with results due in early February.
MENTIONED IN THIS ARTICLE
General Motors Corp
Jack Smith
Smith
Insurance losses seen rising for California fires in 1994
A.M. Best Co. warned that property and casualty insurers face heavier asbestos and environmental claims, with 1993 Q4 likely the worst of the year. The ratings firm expects higher rates in most property lines in 1994 as expenses and claims reached 114.5 percent of premiums.
MENTIONED IN THIS ARTICLE
California
A.M. Best Co
Best
Bond funds shine in 1993 as rates drop lift returns
Bond funds benefited from a steep rate decline in 1993, outperforming stock funds in many cases. Lipper Analytical Services found 19 of 78 bond fund categories posted total reinvestment returns above 12.54 percent, the average for general equity funds, while 44 delivered double digit returns.
MENTIONED IN THIS ARTICLE
Lipper Analytical Services, Inc
Lipper
Local Stocks and Market Update Mentioned
Local interest item notes dial 865 5000 then enter. stock market update appears on 9100 and 6730 with a complete wrapup promised in Saturday Journal World.
MENTIONED IN THIS ARTICLE
Journal-World
Midland Elevator Prices and Friday Livestock Quotes Across Markets
Morning quotes show Midland Elevator in Lawrence posting Wheat at 3.89, corn 2.96, milo 4.87, soybeans 6.84. St Joseph reports hog receipts 1,200 with barrows and gilts 1.00 higher. 1-3 230-270 Ib 41.50-42.00, 2-3 270-290 Ib 40.00-41.00. sows mixed by weight. Dodge City notes trade slow to moderate with steers and heifers steady to higher, 12,200 steer and 1,700 heifer sales Thursday. weekly total 87,300 head confirmed. Kansas City reports mixed weekly movements with 61,800 slaughter steers and 27,100 heifers sold, plus extensive weight brackets and Holstein prices. Omaha quotes hogs up 1.00 to 1.50, cattle and calves unchanged, sows higher. rates from Commerce Bank of KC reflect interbank trades as of 8 a.m. today.
MENTIONED IN THIS ARTICLE
Midland
Lawrence
St. Joseph
St. Josefu
Dodge City
Kansas
Kansas City
Omaha Livestock Omana, Neu
Uspay
Omaha
Also Mentioned on This Page
David Shulman
Itale
VOW
Brian Sipple
Wal-Mart Stores Inc
Kmart Corp
Sears, Roebuck and Co
du Wees
Ian
J.C. Penney Co. Inc
Dayton Hudson Corp
Eee Eterna SS
Allied Sig O'Reilly Auto
Applebee's
JC Penney
Buckle Inc
Pepsico
CommBancsh
Quaker
Dayton-Hudaities
Railroad
Fleming
Sallie Mae
FMC
Santa Fe
Seafield
Goodyear
Sealright
Hercules
Sears
HORL
Sthwest Bell
ANY Kmart
TRW
Kroger
Trinova
Lone Star Sticks
Utili Corp
May
Wal-Mart
Mercantile
Western Res
Merckdase
Williams
Met Fintener
Woolworth
Edward D. Jones & Co
Cee
Commerce Bank of
N.A
Commerce Bank
Canada
France
Germany
Great Britain
Italy
Mexico
Switzerland
Treasury
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