Window Dressing Your Mutual Funds

To many of us, this time of year means stringing holiday lights outside, bringing out the inflatable candy canes and decorating windows with frosty snowflakes highlighted by fake candlelight. To financial advisors, this time of year brings another type of behavior: “window dressing” of mutual funds by portfolio managers. Let’s examine what mutual fund window dressing is, how you can spot it and what you should do. As you probably know, all mutual funds must list their actual holdings four times a year at the end of every quarter and many fund companies send investors copies of these reports (or they can be found online too). But what you might not know is that the list of fund holdings is only a snapshot on one particular day – not all the actual holdings that were owned throughout the quarter. Knowing this fact, some portfolio managers will sell certain stocks and …

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A Genetic Test to Spot Health Risks

Scientists first mapped the human genome 14 years ago. Since then, they have learned a lot about genetics, and someday that wisdom may lead to a cure for many diseases. But we’re not there yet. There’s “a ton we don’t understand,” says Lawrence Brody, director of the genomics and society division at the National Human Genome Research Institute. Keep that in mind if you take advantage of the first “direct to consumer” genetic test for health risks. That test became available in the spring, when 23andMe, a DNA testing firm, was the first company to win approval from the Food and Drug Administration to sell directly to consumers–without a prescription–a genetic test that screens for certain health risks. Here’s how it works: You pay $199 to order a Health and Ancestry kit online from 23andMe.com. When it arrives, you spit into a tube and mail it back. Two months later, …

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