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“You do understand the function of the magician’s assistant, don’t you?” “Yeah. She’s there to distract them as he sets up the trick.” That exchange occurs between characters played by Morgan Freeman and Mark Ruffalo in the 2013 film Now You See Me. If you prefer a musical reference here’s a favorite Pearl Jam lyric [...]
Years ago I was in the office of a friend and colleague who was purchasing tickets from Ticketmaster. He wished to take his young child to the circus. A fairly straightforward and common transaction. At the end of the call the Ticketmaster rep summarized the transaction. "The cost per ticket is $x including a convenience [...]
The U.S. Supreme Court recently ruled in the case of Tibble v. Edition International. The decision will surely have unintended consequences. A bit of background: Current and former employees sued Edison (a California-based utility) claiming breach of fiduciary responsibility. The claim? Retail mutual funds in the 401(k) charged higher fees than identical Institutional funds available [...]
Not long ago a prospective client inquired about Apollo’s views of the fixed income markets and, specifically, muni bonds. It was a simple discussion – one we’ve had with our clients a number of times since the ‘market meltdown’ of 2007-2009. We explained that with ‘risk-free’ 10-year Treasuries yielding 2% and the questionable balance sheets [...]
On August 17, 2006, President Bush signed The Pension Protection Act of 2006 (“PPA”). Contained therein are lots of things for Corporate America to act upon but tucked away in the close to 400 pages of legalese are several important changes that will impact individuals – particular emphasis given to retirement savings and charitable giving. [...]