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do you know whether a particular financial adviser is the right fit for
you? It's not easy. As Jonathan Burton notes in his Life Savings column
today, financial planners do more than suggest wise money moves. Their
relationship with clients is often akin to therapy. You've got some
deeply ingrained money habits, and if those habits are not serving you
well, the financial adviser has to get you to change.
planners undertake that process more successfully and professionally
than others. Read Jonathan's column today for more on what to expect
from a financial adviser — and five mistakes you don't want your money
manager to make. Plus watch Stacy Delo's video on the mistakes advisers
say their clients are making now.
we've got mistakes advisers make, and mistakes clients make. If we can
get past those errors, your portfolio should hit a home run.
advisers say their clients are living in the past, fearful of another
market collapse: They're reluctant to invest in stocks, and they're too
heavily focused on bonds. Those are serious mistakes, advisers say.
Stacey Delo reports. Watch video: Mistakes investors are making now.
say the estate tax drives small firms and family farms out of business,
but a group of small-business owners challenges that notion. Jerry
Fiddler of VC firm Zygote Ventures says the estate tax is the least of
entrepreneurs' worries. Watch video: Estate tax? Bring it on.
it comes to the asset and wealth management sectors, global is the key
word. A new trends report by Russell Reynolds Associates points to
elevated compensation outside the U.S. in the sector and increased
hiring for those with emerging markets experience. Read more: Hiring, compensation rises for asset management.
Pay or perks: What employees want
are you willing to do for that dream job? Take a 50% pay cut? Or forego
the all-expenses-paid company gym (with spa attached)? If you answered
the latter, you're in very good company. Read more: Pay or perks: What employees want.
ECONOMY & POLITICS
Commentary: Higher inflation, lower rates don't go together
Treasury Department should require regulators to conduct another round
of stress tests on major lenders, focused on the potential costs to
financial institutions from investors seeking to force banks to
repurchase mortgages, a congressional watchdog said Tuesday. Read more: Watchdog calls for second round of stress tests.
moods guide us when it comes to decisions. Now, a new study suggests
that our trading impulses may be affected by what we do over the
weekend, writes David Weidner. Read more: Laughing our way to riches.
Commentary: Is the gold bubble about to go manic?
go through several phases: A bull market can build for years and as it
turns into a boom, the mainstream culture starts to pay attention. But
it's not until the final blowup phase that everyone jumps in, writes
Brett Arends. Read more: Is the gold bubble about to go manic?
Global fund managers at most bullish since April
fund managers last week were at their most bullish since April,
according to a new report, but pollsters cautioned that the positive
sentiment will require continued strong economic data and resolution of
sovereign-debt issues to continue. Read more: Global fund managers at most bullish since April.
Are ETFs a menace — or just misunderstood?
exchange-traded funds blow up and take the markets down with them? A
report released this week argues that ETFs are "radically changing the
markets," raising the prospect of a "panic-driven market meltdown." ETFs
are funds that hold all the securities in an index and themselves trade
like a stock. Read more: Are ETFs a menace — or just misunderstood?
Commentary: Should China's computing feat be feared? The
big news is now official. A Chinese scientific research center has
developed the world's fastest supercomputer, a title it wrestled from
the United States using a combination of Silicon Valley technology and
some major innovations by their own engineers. Read more: Should China's computing feat be feared?
Corker: Change Fed Mandate
Insight on changing the Fed's dual mandate from targeting full
employment and price stability to just targeting inflation, with Sen.
Bob Corker, (R-TN), and CNBC's Steve Liesman. » Watch Video
Nov 16, 2010 Stocks Plummet As Overseas Concerns Take Hold - U.S. Commentary Stocks
ended sharply lower on Tuesday, as concerns about the financial state
of Ireland and the increased likelihood of an interest rate hike by
China prompted heavy selling in the equity markets. Some traders used
the overseas worries as an opportunity to cash in on recent gains. The
major averages moved off their worst levels of the session going into
the close but still ended the day firmly in the red. Full Article
Nov 16, 2010 U.S. Producer Price Growth Misses Estimates In October While
energy prices showed a substantial increase in the month of October,
the Labor Department released a report on Tuesday showing that total
producer prices rose by much less than expected for the month due in
part to a drop in auto prices. The Labor Department said its producer
price index rose by 0.4 percent in October, matching the increases seen
in each of the two previous months. Economists had been expecting the
index to increase by a more significant 0.8 percent. Full Article
Nov 16, 2010 U.S. Industrial Production Unchanged Amid Steep Drop In Utilities Output Industrial
production in the U.S. unexpectedly came in unchanged in the month of
October, according to a report released by the Federal Reserve on
Tuesday, with a notable decrease in utilities output offsetting an
increase in manufacturing output. The report showed that industrial
production was unchanged in October after falling by 0.2 percent in
September. Economists had been expecting production to increase by 0.3
percent. Full Article
Nov 16, 2010 U.S. Homebuilder Confidence Improves For 2nd Straight Month In November Homebuilder
confidence improved for the second consecutive month in November, the
National Association of Home Builders revealed in a report on Tuesday,
with the increase partly due to a notable improvement in expectations
for the next six months. The report showed that the NAHB/Wells Fargo
Housing Market Index rose to 16 in November from a downwardly revised 15
in October. Full Article
Nov 16, 2010 TJX Profit Tops Beats ExpectationsOff-price
retailer TJX Companies Inc. (TJX) on Tuesday reported a 7% increase in
profit for the third quarter, reflecting strong merchandise margins. Net
sales increased 5%. Both earnings per share and revenue for the quarter
topped analysts' expectations. Looking ahead, the company raised its
earnings outlook for fiscal year 2011. Full Article
Nov 16, 2010 Wal-Mart Profit Rises; Lifts ForecastRetail
giant Wal-Mart Stores Inc. (WMT) Tuesday reported higher third-quarter
profit, reflecting a tax benefit and strong international sales. The
Bentonville, Arkansas-based company's total U.S. comparable store sales
declined in the third quarter as Walmart U.S. posted lower comps due to a
decline in store traffic and average ticket. The world's largest
retailer, however, provided earnings outlook for the fourth quarter
above Wall Street analysts' estimate and lifted its earnings guidance
for fiscal 2011. Full Article
Nov 16, 2010 Honeywell Slashes Outlook To Reflect Pension Accounting ChangeDiversified
technology and manufacturing company Honeywell International, Inc.
(HON) announced Tuesday changes in its accounting pattern for pension
expense, which has led the company to slash its earnings forecast for
the fourth quarter and for the full-year 2010. The company also plans
additional pension funding in 2011. Full Article
Nov 16, 2010 GM Lifts IPO Price RangeAutomotive
manufacturer General Motors Co. Tuesday said it lifted the estimated
price range for the Initial public offering, which is set on November
18, and also increased the size of the convertible preferred stock
offering. The media cited strong investor demand for the price increase. Full Article
Nov 16, 2010 Home Depot Profit Tops Estimates; Lifts ForecastHome
Depot, Inc. (HD) reported Tuesday a 21% rise in profit for the third
quarter, boosted by higher comparable store sales as well as expense
control. The results topped market projections. Further, the world's
largest home improvement retailer lifted its fiscal 2010 earnings
forecast, which is expected to beat market numbers, but trimmed its
sales growth view. The Atlanta, Georgia-based company's net earnings
grew to $834 million from prior year's $689 million, and earnings per
share climbed 24.4% to $0.51 from $0.41 a year ago. Full Article
Nov 16, 2010 Dollar Rallies As Focus Shifts To Ireland Rescue The
dollar continued to fight back on Tuesday, hitting its highest level in
almost two months amid growing concerns about Europe's sovereign debt
crisis. All eyes were on Brussels as European finance ministers met to
discuss a bailout for Ireland. The EU is expected to come up with large
amounts of cash to put a firewall around Irish banks in order to prevent
contagion. Full Article
Nov 16, 2010 India A Partner In Non-Proliferation Efforts: U.S.The
United States considers India a partner in its global non-proliferation
efforts and believes the latter can play an important role in
strengthening the overall non-proliferation regime, an American official
said Monday. "One of the criticisms in the past has been that U.S.
sometimes regarded India more as a target than a partner in
non-proliferation," Assistant Secretary of State for South and Central
Asia, Robert Blake, told journalists in New York and Washington during a
digital video press conference. Full Article
Nov 16, 2010 Senate Leadership Remains Unchanged On Both Sides Of The AisleWhile
Democrats will have a much smaller majority in the Senate when the
112th Congress convenes in January, the party leadership in the upper
chamber will remain unchanged. The top Republicans in the Senate will
also be returning to their leadership positions. Following the Senate
leadership elections on Tuesday, Sen. Harry Reid, D-Nev., will remain
the Senate Majority Leader, while Sen. Mitch McConnell, R-Ken., will
remain the Senate Minority Leader. Full Article
Nov 16, 2010 Poll Shows Jobs Are Now Seen As America's Most Important ProblemAmericans
now say high unemployment is the most important problem facing the
country, according to the results of a Gallup poll released on Tuesday,
with the struggling job market climbing above the economy in general to
top the list. The poll showed that 33 percent of those surveyed said
jobs/unemployment is the most important problem facing the country, up
from 28 percent in an October survey. Full Article