Portfolio

It's difficult to overestimate the cost of hiring wrong. According to Top Grading by Dr. Bradford Smart, the average cost for a bad hire, earning between $50,000 and $100,000, is $80,000. While, there is no foolproof method that guarantees consistently good hires, here are some tips to maximize the chances of success.

First investment banks developed tools to act like hedge funds. Now their risk strategies are spreading to traditional money management.

Ultra-wealthy investors, with their $25 million in household net worth, might be a tempting lure for advisors who want their business. But any professional money manager who wants them as clients has to sharpen his or her knowledge about alternative investments.

Approach with caution though, Spectrem says, as 46% of ultra-rich individuals say they feel they could manage their investments better than a professional.

First investment banks developed tools to act like hedge funds. Now their risk strategies are spreading to traditional money management.

Tax-exempt money market funds posted only modest gains this week, increasing by $718.2 million and ending with $327.09 billion in total net assets, but that halted a month-long streak of outflows in the week ending Nov. 8, according to the Money Fund Report, a service of iMoneyNet.com.

Many investors think the expiration of the Build America Bond program would actually be good for existing BABs because the entire universe of taxable bond buyers will be fighting over a finite and relatively small pool of available debt.

The SEC should rein in the ABA's CUSIP Service Bureau and prevent it from charging financial market participants unreasonable and unwarranted fees, say three trade groups.

Surprisingly, most Americas (88%) showed understanding of diversification and asset allocation (79%) while flunking basic questions about other financial concepts in a survey for Northwestern Mutual.

Investors poured over $26.8 billion into long-term mutual funds in October, nearly twice the assets added in September, Morningstar reported on Wednesday.