The work that earned Eugene Fama the Nobel Prize in economics provided the intellectual foundation for index-tracking funds, which have upended stock picking as investors abandon active money managers.
Fidelity Investments, the largest provider of 401(k) plans, is putting more stocks into its target-date retirement funds in anticipation that returns for bonds will weaken after a historic bull market.
John Kinnucan ’s questioning by the FBI in a broad insider-trading investigation has put the spotlight on money managers and their use of a burgeoning breed of firms selling research and access to industry experts.
O. Mason Hawkins and G. Staley Cates, having made Southeastern Asset Management Inc. the second-largest investor in Dell Inc., told clients last year the computer maker was worth more than its sliding stock price suggested when viewed as a private company.
Invesco Ltd ., Franklin Resources Inc . and Janus Capital Group Inc. , reported higher profits for the three months through December, as the stock-market rally boosted assets, offsetting client withdrawals at most firms.