Specialist Man
The Wall Street Journal – September 19, 2003 Well-deserved attention has been focused on the $140 million compensation package received by Richard Grasso, the recently departed chairman of the New…
The Emperor’s New Mutual Funds
The Wall Street Journal – July 8, 2003 Congress is now considering legislation that would strengthen the independence of mutual-fund boards of directors from fund managers and require cost disclosures…
Mutual Fund Secrecy
The New York Times – December 14, 2002 When I founded what is now the country’s second-largest mutual fund organization 27 years ago, I did my best to create a…
Remaking the Market: Reality Bites
The Wall Street Journal – November 21, 2002 Considerable attention has been focused on the role of Wall Street’s “sell-side” analysts in generating so much of the hot air that…
How Mutual Funds Lost Their Way
The Wall Street Journal – June 20, 2000 In the past 50 years, mutual funds have gone from a $2.5 billion also-ran in the financial-services industry to a $7 trillion…
The Wall Street Casino
The New York Times – August 23, 1999 Feverish transaction activity in the stock market has become one of the hallmarks of our great bull market. So far, on every…
Krugman on Oligarchs
In this morning’s New York Times, columnist Paul Krugman reinforced my criticism of today’s version of capitalism, writing: . . . we’re seeing the rise of a narrow oligarchy: income…