Friday, September 18, 2015

Who is Carly Fiorina

If you know Carly Fiorina is running for the Republican presidential nomination, you probably know at least one other thing about her: that she once ran Hewlett-Packard — and was fired from the company. But did you know she attended high school in … Ghana? That’s one of many places she went to school. Fiorina, 61, was born in Austin, Texas, and had a peripatetic childhood thanks to her law-professor father’s career. Fast forward to the present, and she’s being hailed for a strong performance in Wednesday night’s Republican debate. Here are five things to know about Fiorina — besides the rockiness of her tenure at H-P.

 ‘Perpetually the new kid’: In her memoir, “Tough Choices,” Fiorina describes herself in her early years as “perpetually the new kid in class.” She writes that she went to elementary school in New York, Connecticut and California. Junior high was in California and England. For high school, it was Ghana, California and North Carolina. “In the course of all this moving around, I learned a lot about people and a lot about change,” she writes in her book.

Her favorite college subject wasn’t economics:Fiorina’s academic résumé doesn’t start off sounding like that of a CEO. Though she later got an MBA, her undergraduate degree from Stanford University is in medieval history and philosophy. In a 2001 commencement speech at her alma mater,“The most valuable class I took at Stanford was not Econ 51. It was a graduate seminar called, believe it or not, Christian, Islamic and Jewish Political Philosophies of the Middle Ages.” Why was it so valuable? Distilling “huge texts” into two-page papers was a great intellectual workout, she told students. “Through the years, I’ve used it again and again — the mental exercise of synthesis and distillation and getting to the very heart of things.”
Carly Fiorina

She lost a Senate race by 10 points: If you’re not a political junkie, you may not recall that Fiorina ran for the U.S. Senate from California in 2010. She lost. Barbara Boxer, a Democrat, won the race by nearly 10 percentage points. Yet polls during the race showed Fiorina as close as a point away from Boxer — evidence of her appeal in a traditionally blue state. The race is also remembered — not least by Boxer — for Fiorina’s calling her opponent’s hairstyle “so yesterday.”

She lost a daughter: During Wednesday’s debate, Fiorina said she had “buried a child to drug addiction.” That child was stepdaughter Lori, who died in 2009 at age 35. After relating the experience, Fiorina said the U.S. must invest more in drug-treatment programs. It became the most-searched moment of the debate, the Washington Post reported.

She opposes requiring paid maternity leave: The issue of paid maternity leave didn’t come up in Wednesday night’s debate, but it’s been in the news with Yahoo YHOO, -1.50% CEO Marissa Mayer saying she plans on taking minimal leave after the birth of the twins she is expecting. Fiorina’s take: The government shouldn’t require companies to offer such leave. “I’m not saying I oppose paid maternity leave,” she told CNN in August. “What I’m saying is I oppose the federal government mandating paid maternity leave to every company out there.” On this issue she sounds much different from the only other major female candidate seeking the White House, Democrat Hillary Clinton. “The United States is the only country in the developed world without guaranteed paid leave of any kind. That has to change,” Clinton’s website states.

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Thursday, September 17, 2015

Remittances inch up in July 2015

Metro Manila (CNN Philippines) —A strengthening U.S. dollar and a depreciation of several currencies around the world partly caused a slower growth in personal remittances from overseas Filipinos (OFs) last July, according to the Bangko Sentral ng Pilipinas (BSP). 

 The central bank revealed on Tuesday (September 15) that personal remittances grew by an annualized 0.5 percent to $2.3 billion last July, in contrast to the comparable 7.3 percent increase logged during the same month last year. 

 Such funds from land-based workers with contract of one year or more grew by 5.4 percent, while those from sea-based and land-based workers with contracts of less than a year rose by 2.9 percent. On a cumulative basis, personal remittance for the first seven months of the year reached $15.7 billion, equivalent to a year-on-year growth go 4.6 percent.

Cash remittances from OFs coursed through banks increased by an annualized 0.5 percent to $2.1 billion, bringing the January to July total to $14.2 billion. The January to July total is 4.8 percent higher than the $13.5 billion notched during the same period last year. 

 According to the BSP, the bulk of such funds came from the U.S., the U.A.E., the U.K., Singapore, Japan, Hong Kong, and Canada. 

 Citing figures from the Philippine Overseas Employment Administration (POEA), the central bank noted that total job orders reached 526,345, and that 38.7 percent of which has been processed. Most jobs were intended mainly for service, production, and professional, technical and related workers in Saudi Arabia, Kuwait, Qatar, Taiwan, and the U.A.E.

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Friday, April 17, 2015

What is Mutual Fund?

A mutual fund is a type of professionally managed investment fund that pools money from many investors to purchase securities.[1] While there is no legal definition of the term "mutual fund", it is most commonly applied only to those collective investment vehicles that are regulated and sold to the general public. They are sometimes referred to as "investment companies" or "registered investment companies". Hedge funds are not mutual funds, primarily because they cannot be sold to the general public.

In the United States, mutual funds must be registered with the U.S. Securities and Exchange Commission, overseen by a board of directors or board of trustees, and managed by a Registered Investment Advisor. Mutual funds are also subject to an extensive and detailed regulatory regime set forth in the Investment Company Act of 1940. Mutual funds are not taxed on their income and profits if they comply with certain requirements under the U.S. Internal Revenue Code.

Mutual funds have both advantages and disadvantages compared to direct investing in individual securities. Today they play an important role in household finances, most notably in retirement planning.

There are three types of U.S. mutual funds—open-end funds, unit investment trusts, and closed-end funds. The most common type, open-end funds, must be willing to buy back shares from investors every business day. Exchange-traded funds (ETFs) are open-end funds or unit investment trusts that trade on an exchange. Non-exchange traded open-end funds are most common, but ETFs have been gaining in popularity.


Mutual funds are generally classified by their principal investments. The four main categories of funds are money market funds, bond or fixed income funds, stock or equity funds, and hybrid funds. Funds may also be categorized as index (or passively managed) or actively managed.

Advantages and disadvantages
Mutual funds have advantages over investing directly in individual securities:
Increased diversification: A fund normally holds many securities; diversification decreases risk.
Daily liquidity: Shareholders of open-end funds and unit investment trusts may sell their holdings back to the fund at the close of every trading day at a price equal to the closing net asset value of the fund's holdings.

Professional investment management: Open-and closed-end funds hire portfolio managers to supervise the fund's investments.

Ability to participate in investments that may be available only to larger investors. For example, individual investors often find it difficult to invest directly in foreign markets.
Service and convenience: Funds often provide services such as check writing.
Government oversight: Mutual funds are regulated by the SEC
Ease of comparison: All mutual funds are required to report the same information to investors, which makes them easy to compare.

Low Investment Threshold: Since the portfolio is diversified with a no-load fund, investors may have to pay little or no sales charges to own mutual funds[4]
Mutual funds have disadvantages as well, which include:

Fees
Less control over timing of recognition of gains
Less predictable income

No opportunity to customize

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