Retirees: "Let The Force Be With You" (and Your Grandchildren) Albert Einstein is credited with saying that compound interest is “the most powerful force in the universe.” I would add that education combined with the miracle of compounding may be the real power we are seeking. Who can have this super-power? Baby Boomers.
Former Wells Fargo Employees Charged With Insider Trading On Analyst Research Reports Perhaps signaling new scrutiny on what has been described as the "netherworld" of Wall Street, the Securities and Exchange Commission has charged two former Wells Fargo employees with violating federal securities laws by using knowledge of nonpublic impending analyst upgrades or downgrades in certain securities to generate more than $100,000 in illicit gains. Gregory T. Bolan, Jr., 37, and Joseph C. Ruggieri, 35, are charged with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Notably, the Commission has chosen to file the action as as administrative proceeding, and is seeking injunctive relief, disgorgement of ill-gotten gains, and the imposition of civil monetary penalties. Due to the highly expedited nature of administrative proceedings, an evidentiary hearing must take place within 60 days.
In an Order Instituting Administrative Proceedings, the Commission alleges that Bolan, a former analyst in Wells Fargo's research department, repeatedly tipped Ruggieri and an unnamed deceased individual of impending upgrades and downgrades to various securities he covered in the health care industry. Bolan was widely followed and respected in the health care sector, and his ratings had the ability to significantly influence the short-term price direction of various securities. Ruggieri was a senior trader of health care securities at Wells Fargo, and was responsible not only for entering customer orders but also for placing principal trades for Wells Fargo's account. After Bolan's tip of an impending upgrade or downgrade, Ruggieri would then purchase or sell short the relevant company's stock ahead of the announcement.
Six Ways To Stop Spending Too Much On Your Kid's Birthday Party Whether you're planning a party for your child that costs thousands of dollars with a ferris wheel and food stalls or pulling together a festive event on a single income, everyone tends to go overboard at birthday time. We can all afford to take a minute to look at the budget and curb the madness.
The Seven Most Indebted Nations Trends are often missed because we dismiss data too quickly. There has been a global trend unfolding which could cause a serious financial shock if it continues. Learn more about global government debt and why it's so important.
Paying For College: A 21-Step Guide To Preserving Wealth If you are the parent of a college-bound child—of any age--you should be thinking right now about how your family will finance the degree. The difference between doing it right and not doing it right could easily be worth between $10,000 and $200,000.
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