Mutual funds are supposed to be relatively safe, but a subset known as leveraged funds can be riskier than most because they use complex and aggressive trading strategies. One retiree shared her story with the Chicago Tribune. It even affected her relationship with her sister. The end of my Tribune story includes a helpful explanation of how leverage funds work.
In 2012, Cecilia Kruczek, of Schaumburg, learned that a brokerage employee had lost $100,000 of her money in a leveraged, actively traded fund just when she needed the cash. Recently, the Financial Industry Regulatory Authority issued an investor alert about alternative or “alt” mutual funds, which use strategies that differ from the industry’s more typical buy-and-hold practice. (Terrence Antonio James, Chicago Tribune)
Lincoln Park Capital of Chicago will invest up to $27 million in a Maryland company that plans to use some of the money for medical marijuana research, the Chicago Tribune reported recently.Jars containing various strands of medical marijuana sit behind a display case for awaiting patients. (Anthony Souffle / Chicago Tribune)
I never realized that there are companies who provide services to the funeral-home industry, so when I found out about a family-owned Joliet, IL, business, Deaton-Kennedy, that was bought by a private equity company, Prairie Capital, I just had to write about it for the Chicago Tribune.
Discover, the Riverwoods, IL-based credit card company, plans to introduce an app enabling customers to access basic account information on their wearable Google Glasses, the Chicago Tribune reports.
Many insurance companies have programs in which they monitor policyholders’ driving in return for potential discounts, but Progressive is the first major one to test tracking of location as well, the Chicago Tribune recently reported.
A recent Page 1 story in the Chicago Tribune examines what the eventual coming of driver-less cars will mean for the auto insurance industry.
This Mercedes-Benz S500 Intelligent Drive was tested driving autonomously in Germany. (Mercedes-Benz / July 14, 2013)
I recently wrote about how the U.S. Postal Service is considering adding new financial products, including its own reloadable prepaid card and small loans, as a way to generate traffic and revenues as mail volumes decline, according to a report from the agency’s inspector general. It would mean competition for the payday loan industry. Bill Moller recently had me on his TV show to discuss the topic.