Funds' risk changes at disclosure times, study says
By: The Washington Post (Mar 2004)
The Washington Post's "Funds' risk changes at disclosure times, study says" mentions Dr. O'Neal's research on window-dressing that was presented to SEC staff members who asked O'Neal to identify specific mutual funds with the most striking trading patterns.
Concentrated Stock Dangers
By: On Wall Street (Mar 2004)
On Wall Street's "Concentrated Stock Dangers" describes research conducted by Dr. McCann and Dr. Luo on the disastrous results from the strategy recommended by some brokerage firms to borrow against a concentrated position and buy additional stocks to diversify.
Fund Group Pushes New Disclosures
By: The Wall Street Journal (Feb 2004)
The Wall Street Journal's "Fund group pushes new disclosures" quotes Dr. O'Neal, saying "Surprisingly, commission levels do not appear in most fund prospectuses and therefore most investors are completely unaware of the magnitude of these costs of trading."
Can the Muni Market Be Made Safe for Investors?
By: Joe Mysak, Bloomberg News (Feb 2004)
Joe Mysak's column "Can the Muni Market Be Made Safe for Investors?" for Bloomberg News reviews Dr. Piwowar's research on trading costs in the municipal bond market.
Muni Bonds Can Cost More to Trade than Stocks
By: The Wall Street Journal (Feb 2004)
The Wall Street Journal's "Muni Bonds Can Cost More to Trade than Stocks" extensively cites research by Dr. Piwowar on secondary trading costs in the municipal bond market.
Pricey Municipal Bonds
By: The San Francisco Chronicle (Feb 2004)
The San Francisco Chronicle's "Pricey Municipal Bonds" extensively cites research by Dr. Piwowar on secondary trading costs in the municipal bond market and features the finding that complex bonds (bonds with a lot of "bells and whistles") are more expensive to trade than simple bonds.
Muni Trading Costs High
By: Bond Buyer (Feb 2004)
Bond Buyer's "Muni Trading Costs High" extensively cites research by Dr. Piwowar on secondary trading costs in the municipal bond market.
Study finds large mutual funds have undisclosed trading costs
By: The Boston Globe (Jan 2004)
The Boston Globe's "Study finds large mutual funds have undisclosed trading costs" quotes Dr. O'Neal, saying "the true or total cost of investing in mutual funds is substantially higher than is disclosed by the expense ratio."
Massachusetts Financial in Talks to Settle Fund Probes
By: The Los Angeles Times (Jan 2004)
The Los Angeles Times' "Massachusetts Financial in Talks to Settle Fund Probes" cites study by Dr. O'Neal that shows fund trading costs are substantial in certain fund families.
