As the nation's money managers return from their summer respites, they're finding that Hurricane Katrina has left a host of questions marks within their portfolios.

As The Wall Street Journal reported last week, this is traditionally a time when investment professionals tweak their portfolios for the industry's final quarter, but this year they might have to rethink their strategies. Before Katrina rocked the Gulf Coast, the industry knew what might impact equities: the Federal Reserve's monetary policy, volatile energy prices and sure-footed corporate earnings. Now, however, they're trying to figure out if Katrina's impact on distribution channels might pinch corporate profits, force oil prices even higher and ultimately hamstring the stock market.

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