The Securities and Exchange Commission (SEC) just adopted new rules to their oversight of money market funds — revisions that include increasing credit quality, improving liquidity, shortening maturity limits, and requiring the disclosure of a fund’s actual “mark-to-market” net asset value, known as a “shadow NAV,” on a delayed basis.
This SEC action grows out of [...]
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Bill Miller Revisited
Now that they’re more bulls in the stock market than there are in Pamplona, I thought I would see what’s going on with Bill Miller, the legendary value investor and recent pariah of the mutual fund world. One can’t fully dismiss a lifetime of exemplary performance based upon a handful of poor choices, including Freddie [...]