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	<title>Business &#38; MoneyCategory: Wall Street &#38; Markets &#124; Business &#38; Money &#124; TIME.com</title>
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		<title>Business &#38; MoneyCategory: Wall Street &#38; Markets &#124; Business &#38; Money &#124; TIME.com</title>
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		<title>5 Tech Stocks You Should Have Bought Instead of Facebook</title>
		<link>http://business.time.com/2013/05/18/5-tech-stocks-you-should-have-bought-instead-of-facebook/</link>
		<comments>http://business.time.com/2013/05/18/5-tech-stocks-you-should-have-bought-instead-of-facebook/#comments</comments>
		<pubDate>Sat, 18 May 2013 12:00:58 +0000</pubDate>
		<dc:creator>Sam Gustin</dc:creator>
				<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80292</guid>
		<description><![CDATA[Facebook&#8216;s intensely hyped initial public offering one year ago today was supposed to be a triumphant moment for Silicon Valley and Wall Street. After years of buildup and a valuation that had ballooned to $100 billion, ordinary investors would finally get the chance to own a slice of the hottest tech company on the planet. In the weeks leading up to the IPO, many tech experts &#8212; including some of the most prominent venture capitalists in the country &#8212; repeatedly insisted that once public, Facebook&#8217;s stock price would soar beyond the $38 per share offering price. Is it any wonder that thousands of ordinary investors clamored for a piece of the action? Easy money, right? One New York man even considered taking $25,000 from his daughter&#8217;s college fund to invest in Facebook&#8217;s IPO. &#8220;She doesn&#8217;t need this money for another eight years,&#8221; Jim Supple told The Wall Street Journal. &#8220;If it goes the Google route, I&#8217;ll be in good shape.&#8221; Google&#8217;s share price has increased by 735% since the Web search giant went public in 2004. (MORE: Shopping for Cool: Yahoo! in Talks to Buy Tumblr) Luckily for Supple&#8217;s daughter, Jade, he reconsidered his plan to gamble her college fund on Facebook shares. The wall-to-wall media hype, it seems, made him nervous. &#8221;I&#8217;m going to sit on the sidelines on IPO day,&#8221; Supple decided. &#8220;We&#8217;re going to have to wait until the smoke clears. Facebook&#8217;s IPO was a disaster for regular investors. After going public at $38 per share, Facebook’s stock price quickly rose to $45 before plunging to $20. One year later, Facebook shares remain 30% below the offering price, and the company is still dealing with the fallout, including lawsuits from irate investors who feel they were duped. Hindsight is 20-20, of course, but one year after Facebook&#8217;s IPO, here are five technology stocks that investors would have been better off buying. Sure, these companies have been around for longer than Facebook, and didn&#8217;t have the white-hot buzz that Facebook had at the time of its IPO. What they did have, however, were business models and<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80292&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Wall Street &amp; Markets</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/rtr3ep8i.jpg?w=240</featured_image>
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			<media:title type="html">Facebook CEO Mark Zuckerberg looks on during a media event at Facebook headquarters in Menlo Park</media:title>
		</media:content>

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			<media:title type="html">shgustin</media:title>
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		<item>
		<title>Stock Market Rises Back Into Record Territory</title>
		<link>http://business.time.com/2013/05/14/stock-market-rises-back-into-record-territory/</link>
		<comments>http://business.time.com/2013/05/14/stock-market-rises-back-into-record-territory/#comments</comments>
		<pubDate>Tue, 14 May 2013 22:12:46 +0000</pubDate>
		<dc:creator>AP / Steve Rothwell</dc:creator>
				<category><![CDATA[Stocks]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80022</guid>
		<description><![CDATA[(NEW YORK) — The stock market marched back into record territory Tuesday as investors seized on the latest encouraging news about the economy. This time, it was a report on the health of small businesses. Small business owners were slightly more optimistic in April, according to a survey released by the National Federation of Independent Business before the stock market opened. That helped push the Russell 2000, an index of small-company stocks, up 1.3 percent, ahead of other major indexes. &#8220;Small businesses are in many ways the backbone of the economy &#8230; to see that index move up was a positive surprise,&#8221; said Quincy Krosby, market strategist for Prudential Financial. &#8220;Overall, the market wants to move higher and it&#8217;s hard to fight that.&#8221; The Russell index is 16.1 percent higher since the start of the year, and is up more than the Standard &#38; Poor&#8217;s 500 index, which includes larger, global companies. Small stocks are doing well partly because they are more focused on the U.S., which is recovering, and don&#8217;t get as much revenue from recession-plagued Europe as larger companies do. (MORE: Dow 15,000: Don’t Fight the Fed, But Be Afraid) The advance in small-company stocks is another sign of how optimistic investors have become. Smaller stocks are more risky than large ones, but also offer investors the prospect of greater returns in a rising market. Another closely watched stock market indicator has also been on a tear: transportation stocks. The Dow Jones transportation average rose 1.9 percent Tuesday and is up 21.8 percent this year, far more than other major indexes. Investors often see these stocks as an indicator of where the economy is headed. When companies make and ship more goods, the thinking goes, truckers, airlines and railways do more business. The market rose from the opening of trading and climbed steadily throughout the day. The Dow Jones industrial average rose 123.57 points, or 0.8 percent, to 15,215.25. The S&#38;P 500 index rose 16.57 points, or 1 percent, to 1,650.34. Both closed at all-time highs after stalling on<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80022&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Stocks</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/investing-wall-street-markets/stocks-investing/</primary_category_link>
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			<media:title type="html">timeassociatedpress</media:title>
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		<item>
		<title>What Bloomberg&#8217;s Snooping Scandal Says About Wall Street&#8217;s Culture</title>
		<link>http://business.time.com/2013/05/14/what-bloombergs-snooping-scandal-says-about-wall-streets-culture/</link>
		<comments>http://business.time.com/2013/05/14/what-bloombergs-snooping-scandal-says-about-wall-streets-culture/#comments</comments>
		<pubDate>Tue, 14 May 2013 09:45:17 +0000</pubDate>
		<dc:creator>Sam Gustin</dc:creator>
				<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=79891</guid>
		<description><![CDATA[On Wall Street, it&#8217;s all about finding an edge — no matter how small or seemingly insignificant. Whether it&#8217;s a snippet of chatter in a restaurant, a stray comment on the squash court, or a scrap of barroom banter after work, Wall Street traders are constantly on the hunt for nuggets of information they can use to gain advantage over rivals. Because success on Wall Street is often measured in seconds, access to information equals money. That mentality also applies to the hypercompetitive world of financial journalism, as the unfolding Bloomberg snooping scandal demonstrates. With its wide-open office layout packed with shirt-sleeved employees hunched over banks of flickering data terminals, Bloomberg&#8217;s newsroom looks like a take-no-prisoners Wall Street trading floor. Apparently, it has been acting like one as well. For two decades, reporters at Bloomberg News have been using special access to Bloomberg&#8217;s ubiquitous financial data terminals to glean sensitive — and potentially proprietary — information about Wall Street banks, hedge funds, and possibly even financial regulators, according to multiple reports. The blockbuster disclosure, first reported by the New York Post, has pulled back the veil on the cozy relationship between the company&#8217;s financial-data service and news-gathering divisions, and could undermine the reputation and client trust it has built over three decades since its founding by Michael Bloomberg, currently mayor of New York City. On Monday, Michael Bloomberg declined to comment on the matter, citing an agreement he made with the city&#8217;s Conflict of Interests Board when he first took office in 2002, in which he said he would no longer be involved in day-to-day operations at the company. Michael Bloomberg has an estimated net worth of $27 billion, thanks in part to his majority stake in the company he founded. (MORE: Aaron Swartz’s Father Calls for U.S. Legal Reforms Ahead of MIT Report) Regulators at the U.S. Federal Reserve and Treasury Department — where Bloomberg terminals are widely used — are investigating whether any of their confidential data has been misused, according to Reuters, and the European Central Bank said it was<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=79891&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Wall Street &amp; Markets</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/rtxzl9r.jpg?w=240</featured_image>
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			<media:title type="html">A Bloomberg terminal displays news on the floor of the New York Stock Exchange in New York City,  on May 13, 2013.</media:title>
		</media:content>

		<media:content url="http://0.gravatar.com/avatar/60187828ab0bda2734e1a17a173fabde?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">shgustin</media:title>
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		<title>Dow 15,000: Don&#8217;t Fight the Fed, But Be Afraid</title>
		<link>http://business.time.com/2013/05/09/dow-15000-dont-fight-the-fed-but-be-afraid/</link>
		<comments>http://business.time.com/2013/05/09/dow-15000-dont-fight-the-fed-but-be-afraid/#comments</comments>
		<pubDate>Thu, 09 May 2013 09:45:53 +0000</pubDate>
		<dc:creator>Rana Foroohar</dc:creator>
				<category><![CDATA[Curious Capitalist]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Stocks]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=79588</guid>
		<description><![CDATA[It’s hard to know what to make of this week’s record Dow performance except to say, “Don’t fight the Fed.” More than four years after the peak of the financial crisis, quantitative easing—the Federal Reserve strategy of buying up assets like bonds and mortgage-backed securities in order to goose the economy – is still going strong, and so is the market. The Fed is on track to purchase $85 billion worth of assets each month for the rest of this year, and “QE3” as this third round of Fed ammo is called may last even longer than that, given the latest jobs report. The Fed has said it won’t let off the monetary gas until unemployment is at 6.5%. April’s jobs numbers were better than expected, bringing the rate down to 7.5%, but most of the growth was in low wage sectors like retail and tourism. What’s more, most of the incoming economic indicators for the second quarter of the year – like factory orders, consumer spending, corporate profit margins, and GDP growth – will likely be weaker than in the first. If the economy remains sluggish, the Fed will remain active. But what’s bad for the real economy is—or at least has been&#8211;good for stocks. As I’ve explained before, the disconnect between underlying economic data and record stock prices is largely down to the Fed and its firepower. It’s worth noting that each round of QE has slightly less of an effect on the markets than the one before. But even people like PIMCO’s Bill Gross, who has publicly fretted for over a year about the bubble making effects of QE, are advising clients to take advantage of the Fed’s largesse and stay in equities for the time being, before gradually reducing riskier positions throughout the year. (Gross has a coffee mug on his desk that reads, “Don’t fight the Fed – but Be Afraid.”) (MORE: Viewpoint: Ben Bernanke, Enabler of America&#8217;s Fiscal Dysfunction) But how afraid should we be? And how soon? That’s the magic question. Almost no<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=79588&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Curious Capitalist</primary_category><primary_category_link>http://business.time.com/category/curious-capitalist/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/168316336.jpg?w=240</featured_image>
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			<media:title type="html">Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, on May 8, 2013.</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/1c372315300738b8325eb1812b2ba263?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">ranaforoohar</media:title>
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		<title>Stripping Jamie Dimon&#8217;s Chairmanship May Feel Good, But Won&#8217;t Fix What&#8217;s Broken</title>
		<link>http://business.time.com/2013/05/09/why-jamie-dimon-is-fighting-for-his-jpmorgan-chairmanship/</link>
		<comments>http://business.time.com/2013/05/09/why-jamie-dimon-is-fighting-for-his-jpmorgan-chairmanship/#comments</comments>
		<pubDate>Thu, 09 May 2013 09:45:51 +0000</pubDate>
		<dc:creator>Christopher Matthews</dc:creator>
				<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Corporate Governance]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Too-Big-To-Fail]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=79538</guid>
		<description><![CDATA[Way back in 2011, JPMorgan Chairman and CEO Jamie Dimon was on top of the world. TIME selected him as one of the 100 most influential people in the world, and even Charles Ferguson, director of the scathing, anti-Wall-Street documentary Inside Job praised his performance during the financial crisis: &#8220;Dimon had the wisdom and the long view to prevent his employees from succumbing to the insane greed that enriched so many bankers while destroying their firms, not to mention ruining millions of lives. As a result, JPMorgan caused far less damage during the financial crisis and emerged more powerful than ever, while Bear Stearns, Lehman Brothers, AIG, Countrywide and WaMu collapsed. For this, Dimon deserves enormous credit.&#8221; Less than a year later, Dimon suffered one of the most humiliating setbacks of his career, when the so-called &#8220;London Whale&#8221; trades cost the firm approximately $6 billion, and shook Wall Street&#8217;s faith that Dimon was adequately managing risk at his too-big-to-fail bank. Dimon did as a good a job as anyone could to reassure the markets and public of his and his firms&#8217; competence. He even went down to Washington to show his contrition and submit himself to a Congressional inquiry into the matter. And for the most part it was effective. The media firestorm over the trading debacle ultimately settled down, and JPMorgan&#8217;s stock price has recovered from the deep hit it took following the loses. (MORE: Too Big To Fail: 3 Lessons of the “London Whale” Debacle) But Dimon isn&#8217;t quite out of the woods yet. Due in part to the London Whale mess, shareholder advisory firms like Institutional Shareholder Services and Glass Lewis are recommending that JPMorgan shareholders vote to split the roles of CEO and Chairman, and hand the Chairmanship over to another director &#8212; effectively demoting Dimon, though he would remain CEO of the bank. Meanwhile, according to The Wall Street Journal, JPMorgan directors are lobbying their biggest shareholders like Blackrock, Vanguard, and Fidelity to vote to keep the positions merged. It&#8217;s worth noting that in the grand scope of these things, $6<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=79538&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Wall Street &amp; Markets</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/</primary_category_link>
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			<media:title type="html">christopherrmatthews</media:title>
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		<title>Viewpoint: Ben Bernanke, Enabler of America&#8217;s Fiscal Dysfunction</title>
		<link>http://business.time.com/2013/05/08/viewpoint-ben-bernanke-enabler-of-americas-fiscal-dysfunction/</link>
		<comments>http://business.time.com/2013/05/08/viewpoint-ben-bernanke-enabler-of-americas-fiscal-dysfunction/#comments</comments>
		<pubDate>Wed, 08 May 2013 09:45:34 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Banking]]></category>
		<category><![CDATA[Bonds]]></category>
		<category><![CDATA[Currency]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Entrepreneurship]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[Government]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Jobs]]></category>
		<category><![CDATA[Management & Leadership]]></category>
		<category><![CDATA[Markets]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Too-Big-To-Fail]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=79402</guid>
		<description><![CDATA[Federal Reserve chairman Ben Bernanke doesn’t get much respect. PIMCO’s Bill Gross, who oversees some of the country’s biggest bond portfolios, has warned that Bernanke risks rousing inflationary dragons.  NYU professor Nouriel Roubini, who correctly anticipated the 2008 financial crisis, has argued that Bernanke’s policies are failing to help the economy and are instead fueling a stock market bubble that will end in a financial crisis. Even experts who are sympathetic have been cutting at times. New York Times columnist Paul Krugman has acknowledged that the Fed chairman is a fine economist.  But his long-running disputes with Bernanke – known in some quarters as the Battle of the Beards – have included charges that Bernanke was assimilated by the Fed Borg, a reference to Star Trek’s collective alien intelligence that overwhelms individuality and personal will. Renowned investor and business magnate Warren Buffett has described Bernanke as &#8220;a gutsy guy,&#8221; but he has also criticized the Fed&#8217;s policies as brutal toward retirees, who depend on interest payments from their investments. Indeed, Bernanke himself acknowledged as much in a 2011 press conference: &#8221;We are quite aware that very low interest rates, particularly for a protracted period, do have costs for a lot of people. They have costs for savers. We have complaints from banks that their net interest margins are affected by low interest rates. Pension funds will be affected if low interest rates for a protracted period require them to make larger contributions. So we are aware of those concerns, and we take them very seriously. I think the response is, though, that there is a greater good here, which is the health and recovery of the U.S. economy.&#8221; (MORE: How Silicon Valley is Hollowing out the Economy) It’s understandable that a public official would feel obliged to do whatever is best for the country at any given moment. If the lack of sound long-term fiscal policies is holding back growth, then up to a point the Fed can justify pumping large quantities of money into the banking system as additional stimulus. But there is a limit. In the long run, excessive money creation may engender<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=79402&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Federal Reserve</primary_category><primary_category_link>http://business.time.com/category/economy-policy/federal-reserve-economy-policy/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/162795895.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2013/05/162795895.jpg?w=240" />
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			<media:title type="html">Ben S. Bernanke, chairman of the U.S. Federal Reserve, during a House Financial Services Committee hearing in Washington, D.C., on Feb. 27, 2013.</media:title>
		</media:content>

		<media:content url="http://2.gravatar.com/avatar/b8875a12f713f52ecc28fe72efed7fd4?s=96&#38;d=http%3A%2F%2F2.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">michaelsivy</media:title>
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		<title>Dow Has Its First Close Above 15,000 Points</title>
		<link>http://business.time.com/2013/05/07/dow-has-its-first-close-above-15000-points/</link>
		<comments>http://business.time.com/2013/05/07/dow-has-its-first-close-above-15000-points/#comments</comments>
		<pubDate>Tue, 07 May 2013 20:14:37 +0000</pubDate>
		<dc:creator>AP / Matt Craft and Steve Rothwell</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Wall Street]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=79462</guid>
		<description><![CDATA[(NEW YORK) — Just two months after recovering the last of its losses from the financial crisis, the Dow Jones industrial average charged higher Tuesday, closing above 15,000 for the first time. It was another milestone in the market&#8217;s epic ascent of 2013. Good economic reports, strong corporate earnings and fresh support from central banks have eased investors&#8217; concerns about another economic slowdown. Many had been on the lookout for signs that a spring swoon would derail the rally, as happened in each of the past three years. Instead, Wall Street has climbed almost 15 percent since Jan. 1. &#8220;The thing that&#8217;s been driving stocks is rising confidence,&#8221; said James Paulsen, chief investment strategist at Wells Capital Management. &#8220;Economic growth, job creation and the housing market have been better than expected.&#8221; News of stronger hiring over the past three months briefly propelled the Dow over 15,000 on Friday, but it ended the week below that mark. Wall Street followed Japanese and European markets higher after they responded to good news about central bank stimulus and the German economy. In the U.S., the market got a lift from higher quarterly profits at satellite TV company DirecTV and watchmaker Fossil. The Dow closed at 15,056.20, up 87.31 points, or 0.6 percent. The Standard &#38; Poor&#8217;s 500 index added 8.46 points to 1,625.96, a gain of 0.5 percent. Both indexes reached all-time highs earlier this year, then kept climbing, largely driven by optimism that the U.S. economy will continue gaining strength. &#8220;We don&#8217;t think people are giving enough credit to the strength of the economy,&#8221; said Ryan Detrick, a senior technical strategist at Schaeffer&#8217;s Investment Research. &#8220;We still like the market.&#8221; The gains piled up with the growing realization among investors that the traditional threats to a rising market — higher interest rates, falling profits, a possible recession — are unlikely to appear anytime soon. What&#8217;s more, with interest rates near record lows, they see few other places to put their money. (MORE: How Silicon Valley is Hollowing Out the Economy) In a round of interviews on<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=79462&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Stocks</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/investing-wall-street-markets/stocks-investing/</primary_category_link>
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			<media:title type="html">timeassociatedpress</media:title>
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		<title>Is the Price of Gold Signaling an Economic Slowdown?</title>
		<link>http://business.time.com/2013/04/29/is-the-price-of-gold-signaling-an-economic-slowdown/</link>
		<comments>http://business.time.com/2013/04/29/is-the-price-of-gold-signaling-an-economic-slowdown/#comments</comments>
		<pubDate>Mon, 29 Apr 2013 09:45:40 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Bonds]]></category>
		<category><![CDATA[Commodities]]></category>
		<category><![CDATA[Economic Indicators]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Emerging Markets]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Markets]]></category>
		<category><![CDATA[New Energy]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Portfolio Strategy]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Wall Street]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>
		<category><![CDATA[World Finance]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=78807</guid>
		<description><![CDATA[Friday’s GDP number was a disappointment. The consensus among economists was that growth for the first quarter would be at least 3% (at an annual rate adjusted for inflation). The actual number was only 2.5%. And even that wasn’t as good as it looked. Growth late last year was very weak, so part of the first-quarter gain was simply a short-term bounce back from the previous quarter. Nonetheless, those results appear to fit with conventional wisdom: A lethargic economy has managed to crank out minimal but steady growth for almost four years. And the outlook is slowly getting better rather than getting worse. Some contrarians challenge that view. They sees signs that the U.S. economy is losing momentum and is heading for another slowdown, if not another recession. The leading indicators of such a future downturn include price trends for important commodities, as well as for Treasury bonds. The most significant bellwether is the recent drop in the price of gold – the sharpest in 30 years. Since the U.S. abandoned the gold standard in the mid-1970s, consumer prices have quadrupled, but gold has risen more than ten-fold. The gold price hasn’t moved higher consistently – it was relatively flat during much of the 1980s and ’90s. But there have been only three periods in which gold prices suffered a significant and rapid decline. The first was from 1980 to ’82, when Federal Reserve chairman Paul Volcker raised interest rates to crush double-digit inflation and the U.S. economy experienced two closely spaced recessions. The second was in 2008, when the financial crisis caused a credit crunch and a worldwide recession. (MORE: A Nation of Renters: Should We Be Worried That Fewer Americans Own Homes?) The third period began in 2011, when gold peaked at $1,896 an ounce. Since then, the price has fallen to $1,440. Strikingly, this decline is occurring at a time when the Fed is pumping money into the banking system, interest rates are extremely low, and the U.S. economy has not had a negative quarter for nearly four years. Why<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=78807&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Economy &amp; Policy</primary_category><primary_category_link>http://business.time.com/category/economy-policy/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/04/rtxymy9-copy.jpg?w=240</featured_image>
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			<media:title type="html">Watches and gold jewellery in a display case inside the Gold Standard jewellery store, specializing in purchasing raw gold and silver in New York City, on April 15, 2013.</media:title>
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			<media:title type="html">michaelsivy</media:title>
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		<title>10 Steps to Spring Clean Your Finances</title>
		<link>http://business.time.com/2013/04/29/10-steps-to-spring-clean-your-finances/</link>
		<comments>http://business.time.com/2013/04/29/10-steps-to-spring-clean-your-finances/#comments</comments>
		<pubDate>Mon, 29 Apr 2013 09:45:18 +0000</pubDate>
		<dc:creator>Martha C. White</dc:creator>
				<category><![CDATA[401(k) Savings]]></category>
		<category><![CDATA[Banking]]></category>
		<category><![CDATA[Decision Making]]></category>
		<category><![CDATA[Financial Planning]]></category>
		<category><![CDATA[Health Insurance]]></category>
		<category><![CDATA[Insurance]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[Taxes]]></category>
		<category><![CDATA[401k]]></category>
		<category><![CDATA[budgeting]]></category>
		<category><![CDATA[credit cards]]></category>
		<category><![CDATA[insurance]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[saving money]]></category>
		<category><![CDATA[savings]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=78144</guid>
		<description><![CDATA[When it comes to spring cleaning, you probably haul the junk out of your garage, scrub your fridge, and wash the rugs and drapes. But don&#8217;t forget about your personal finances. Just after tax season is the perfect time to perform an annual evaluation and tidying up of your budget, bank accounts, debts, and investments. Here are ten steps for straightening up your finances: Evaluate your debt load. How much do you owe, and how much are you paying the lenders in interest? Comparison shop what you&#8217;re paying in interest with what&#8217;s available now, and consider refinancing your mortgage or asking your credit card company for a lower interest rate. If you want to take advantage of the 0% balance transfer offers that are all over the place, make sure you’ll be able to pay off the transferred balance in full before the promotional period expires — and resist the temptation to run up new debt on the old card. Chip away at that debt. The question has always been whether you should you start paying off the balance with the highest interest or knock out the smallest bills first. Although starting with the highest interest rate makes the most sense mathematically, researchers found that people are more motivated to continue with a debt-reduction plan if they knock out a small debt in its entirety rather than merely a chunk of a bigger one. Also known as the &#8220;snowball approach&#8221; as advocated by personal finance expert Dave Ramsey, paying off one debt gives you the momentum to keep chipping away until that debt is history. Update your budget. If you’ve undergone a major job-related change like getting a big promotion or switching from two incomes to one, revisit your household budget. If you&#8217;d like to have one partner stay home with a child or go back to school full-time in 2013, the best way to adjust to being a single-breadwinner family is to start living like one six months beforehand. This will expose any weak spots in your budget or expenses you’ve<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=78144&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Personal Finance</primary_category><primary_category_link>http://business.time.com/category/personal-finance-2/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/04/145629365-copy.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2013/04/145629365-copy.jpg?w=240" />
		<media:content url="http://timebusinessblog.files.wordpress.com/2013/04/145629365-copy.jpg?w=240" medium="image">
			<media:title type="html">Piggy Bank</media:title>
		</media:content>

		<media:content url="http://0.gravatar.com/avatar/9a5a9e4f28beb5afb59b1202632d219a?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">marthacwhite</media:title>
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		<title>Trouble With Your Investment Portfolio? Google It!</title>
		<link>http://business.time.com/2013/04/26/trouble-with-your-investment-portfolio-google-it/</link>
		<comments>http://business.time.com/2013/04/26/trouble-with-your-investment-portfolio-google-it/#comments</comments>
		<pubDate>Fri, 26 Apr 2013 17:06:48 +0000</pubDate>
		<dc:creator>Christopher Matthews</dc:creator>
				<category><![CDATA[Google]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Markets]]></category>
		<category><![CDATA[Portfolio Strategy]]></category>
		<category><![CDATA[Technology & Media]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=78731</guid>
		<description><![CDATA[In the stock market, there are countless strategies for making a buck. Some investors like to focus on the fundamentals of the companies they invest in &#8212; poring over financial statements to figure out which firms are over- or under-valued. Others invest based on trends or macroeconomic events, like whether the Fed is raising or lowering interest rates. These may be effective approaches, but the greatest trading strategy of all &#8212; were it possible &#8212; would be to simply learn how much a particular asset will, in the near future, be valued by everybody else in the market. After all, all the hard data in the world cannot compel a seller or buyer to give you the price you want. That&#8217;s why, at the end of the day, stock markets are about mass psychology as much as anything else. And with the proliferation of the internet, it has never been easier to tap into moods and feelings of the masses. This is what researchers Tobias Preis, Helen Moat, and Eugene Stanely had in mind when they set out to prove that you can make money in the stock market just by following what people are searching for on Google. (MORE: How Does One Fake Tweet Cause a Stock Market Crash?) In a study published yesterday in the journal Nature, these researchers showed that from 2004 through 2011, by making trades purely based on the prevalance of specific search terms, they could earn outsized returns. The most lucrative search term these researchers found was, unsurprisingly, &#8220;debt.&#8221; The researchers found that if they had sold a Dow Jones Industrial Index fund during times when the search term &#8220;debt&#8221; spiked, and consistently did this over the 7-year-period between 2004 and 2011, they would have earned a healthy 326% return. By contrast, had they simply bought a broad stock market index fund in 2004 and held it until 2011, they would have earned just 16%. Some of the other terms that would have yielded hefty returns were a little less intuitive, like &#8220;color,&#8221; &#8220;stocks,&#8221; and, oddly enough, &#8220;restaurant.&#8221; The<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=78731&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Portfolio Strategy</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/investing-wall-street-markets/portfolio-strategy/</primary_category_link>
		<media:content url="http://2.gravatar.com/avatar/8f9a71742e964af96ca58c01a0577a0d?s=96&#38;d=http%3A%2F%2F2.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">christopherrmatthews</media:title>
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		<title>How Does One Fake Tweet Cause a Stock Market Crash?</title>
		<link>http://business.time.com/2013/04/24/how-does-one-fake-tweet-cause-a-stock-market-crash/</link>
		<comments>http://business.time.com/2013/04/24/how-does-one-fake-tweet-cause-a-stock-market-crash/#comments</comments>
		<pubDate>Thu, 25 Apr 2013 02:34:20 +0000</pubDate>
		<dc:creator>Christopher Matthews</dc:creator>
				<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=78472</guid>
		<description><![CDATA[At 1:07 p.m. on Tuesday, the Twitter feed of the Associated Press told us that Barack Obama had been injured in an explosion at the White House. The tweet was fake &#8212; the product of a hack &#8212; but given the events in Boston last week, the news spread like wildfire, garnering more that 4,000 retweets. The AP quickly addressed the situation, suspending its Twitter account, and alerting readers through associated accounts that the tweet describing an explosion at the White House was the result of a hack.  No harm, no foul, right? Well, not exactly. According to the Financial Times, that one tweet sent shock waves through the stock market &#8212; causing the S&#38;P 500 to decline 0.9% &#8212; enough to wipe out $130 billion in stock value in a matter of seconds. The market quickly recovered that value, but the breakneck pace at which the stock market tumbled reminded many people of the infamous 2010 &#8220;flash crash,&#8221; or last year&#8217;s crisis at Knight Capital Management, in which a computer glitch cost the firm $440 million and nearly sent it into bankruptcy. (MORE: High Frequency Trading: Wall Street’s Doomsday Machine?) Both of these events were caused by the proliferation of high-frequency trading, or the practice of Wall Street firms using high-powered computers to execute thousands or millions of trades per second, making miniscule profits &#8212; that add up in a big way &#8212; on each trade. Though nobody knows for sure what exactly precipitated Tuesday&#8217;s volatility, many market watchers blamed high-frequency traders, and more specifically the variety that use algorithms to comb through the internet at lightning-quick speeds, actually &#8220;reading&#8221; news items and tweets, and making trades based off of that information. How do these computer programs do this? According to Irene Aldrige, managing partner and quantitative portfolio manager at ABLE Alpha Trading, and author of a new book on high frequency trading, the &#8220;method is actually quite simplistic.&#8221; High frequency traders compile a list of news sources like SEC filings, business publications, and, yes, Twitter, and tell their computer programs to comb through those sources looking for specific words or phrases like &#8220;bankruptcy&#8221; or<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=78472&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Wall Street &amp; Markets</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/01/twitter1.jpg?w=240</featured_image>
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			<media:title type="html">Twitter</media:title>
		</media:content>

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			<media:title type="html">christopherrmatthews</media:title>
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		<title>The Real Reason Wall Street Is Fighting the Online Sales Tax</title>
		<link>http://business.time.com/2013/04/23/why-is-wall-street-fighting-the-online-sales-tax/</link>
		<comments>http://business.time.com/2013/04/23/why-is-wall-street-fighting-the-online-sales-tax/#comments</comments>
		<pubDate>Tue, 23 Apr 2013 18:35:36 +0000</pubDate>
		<dc:creator>Christopher Matthews</dc:creator>
				<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=78218</guid>
		<description><![CDATA[It&#8217;s rare these days to find a bill that garners bipartisan support, but members of both parties in the U.S. Senate are getting behind the Marketplace Fairness Act, which will enable states to collect sales taxes on products sold by online, out-of-state vendors. The goal of the bill is to level the playing field between online retailers — which don&#8217;t have to collect sales taxes on items sold to customers in states where they have no physical presence — and brick-and-mortar vendors. (MORE: Why Pension Funds Are Hooked on Private Equity) Predictably, the bill has the support of big brick-and-mortar retailers like Walmart, and is being fought by online outfits like eBay. More surprisingly, Wall Street jumped into the fray yesterday, with one industry group — the Securities Industry and Financial Markets Association (SIFMA) — coming out against the measure. Needless to say, SIFMA probably isn&#8217;t concerned about you paying sales tax the next time you buy a blender on Amazon. Here&#8217;s what SIFMA had to say: We believe the impact of this legislation on trade in services has not been adequately explored by Congress. The bill could lead to unexpected costs being passed on to consumers of financial services, including sales taxes on services or state-level stock-transaction taxes. So while the bill&#8217;s stated goal is simply to force online retailers to collect sales tax that is now going uncollected by states, Wall Street sees it as a Trojan horse that will allow state governments far away from New York City to soak the financial-services industry with new sales taxes on financial transactions. This strikes me as a rational fear given Wall Street&#8217;s unpopularity, and the fact that, though it has the ear of Washington and Albany, its lobbyists are far less influential in most state governments across the country. And if there&#8217;s anything the financial-services industry is opposed to, it&#8217;s a financial-transaction tax. The industry is currently trying to beat back a European financial-transaction tax that is being implemented in 11 countries in the E.U. The E.U. tax would charge a 0.1% tax on transactions involving equity or debt<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=78218&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Wall Street &amp; Markets</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/</primary_category_link>
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			<media:title type="html">christopherrmatthews</media:title>
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		<title>Stocks Briefly Drop, Recover, on Fake Bomb Tweet</title>
		<link>http://business.time.com/2013/04/23/stocks-briefly-drop-recover-on-fake-bomb-tweet/</link>
		<comments>http://business.time.com/2013/04/23/stocks-briefly-drop-recover-on-fake-bomb-tweet/#comments</comments>
		<pubDate>Tue, 23 Apr 2013 18:02:40 +0000</pubDate>
		<dc:creator>AP / Steve Rothwell</dc:creator>
				<category><![CDATA[Stocks]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=78349</guid>
		<description><![CDATA[(NEW YORK) — The stock market briefly dropped, then recovered, after the Associated Press&#8217; Twitter account was hacked and a fake tweet about an attack on the White House was posted. The AP released the following statement at 1:12 p.m.: &#8220;The (at)AP twitter account has been hacked. The tweet about an attack at the White House is false. We will advise more as soon as possible.&#8221; The Dow Jones industrial average fell more than 150 points after the fake Twitter posting, then quickly recovered. Other markets also reacted to the fake posting. (LIST: Top 10 Twitter Controversies) The price of crude oil fell, then rose back. The yield on the benchmark U.S. government bond, the 10-year Treasury note, briefly dropped as traders shifted money into low-risk investments. The turmoil lasted for about five minutes. By about 1:13 p.m., stocks, bonds and crude oil were all trading about where they were before the fake tweet was posted. The stock market started higher Tuesday following strong earnings across a range of U.S. industries. Makers of handbags, jet planes and chemical products all turned in good results for the first quarter, reviving investors&#8217; confidence after a sharp downturn in the stock market last week. Coach, Lockheed Martin, DuPont and Travelers were among the winners after they reported results that were better than analysts expected. The Dow Jones industrial average and the Standard &#38; Poor&#8217;s 500 index both rose nearly 1 percent in morning trading, putting them on track for a third straight day of gains. A resurgence in corporate profits after the Great Recession has been one of the drivers that pushed both the Dow Jones industrial average and the Standard &#38; Poor&#8217;s 500 index to record levels this year. However investors are starting to question how much further company earnings can improve without the outlook for growth in the global economy improving as well. Tuesday&#8217;s upturn in stocks put both indexes back in the black for April and closer to the record high closes they reached on April 11. It was a sharp<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=78349&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Stocks</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/investing-wall-street-markets/stocks-investing/</primary_category_link>
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			<media:title type="html">timeassociatedpress</media:title>
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		<title>Europeans Are Thinking the Unthinkable: That Debt Defaults Might Make Sense</title>
		<link>http://business.time.com/2013/04/23/europeans-are-thinking-the-unthinkable-that-debt-defaults-might-make-sense/</link>
		<comments>http://business.time.com/2013/04/23/europeans-are-thinking-the-unthinkable-that-debt-defaults-might-make-sense/#comments</comments>
		<pubDate>Tue, 23 Apr 2013 07:00:01 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Banking]]></category>
		<category><![CDATA[Bonds]]></category>
		<category><![CDATA[Currency]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Government]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Labor]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>
		<category><![CDATA[World Finance]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=78185</guid>
		<description><![CDATA[The euro-zone crisis has slipped off the radar screen during the past couple of weeks as gun control and the Boston bombers have dominated U.S. news. But none of the euro zone’s problems have gone away. Political crises beset France, Italy and Spain. Smaller countries, from Portugal to Cyprus, face even more pressing financial troubles. Germany grows less and less willing to foot the bill for bailouts. And for the first time, serious public figures in Europe have begun openly discussing the pros and cons of allowing countries to default on their national debt. There is, in fact, a historical case for tolerating default. Argentina suffered a financial crisis in 1999 that led to a period of high unemployment. Over the next several years, it became harder and harder to maintain the value of currency. In 2002, the country defaulted on more than $100 billion in debt. Inflation soared, and workers&#8217; purchasing power plummeted. Savers lost a big chunk of their money. But a year later, growth bounced back to an 8% to 9% annual rate, and wages rose even faster. The same issues arose during the 2008 banking crisis. Ireland bailed out its banks, while Iceland couldn’t afford to and allowed a partial default. The results were that Ireland had no inflation, but unemployment topped 14% as growth ground almost to a halt. By contrast, in Iceland the currency lost almost half its value and inflation reached 5.4%. However, economic growth picked up slightly and unemployment didn’t rise much above 6%. (MORE: Why the Case for Austerity Took a Big Hit) In all these cases, policymakers had to choose whether working people or financial interests should be the ones to suffer most during a serious economic crisis. Default hurt affluent savers and financial institutions, but proved to be better for ordinary workers over the long term. What is happening now in Europe is that populations are resisting further austerity. In response, politicians and technocrats are beginning to question whether default might ultimately be less painful than doing what will be required to keep<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=78185&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Europe</primary_category><primary_category_link>http://business.time.com/category/economy-policy/europe-economy-policy/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/04/biz-euro-default-130422.jpg?w=240</featured_image>
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			<media:title type="html">A man walks past a closed down business in Madrid</media:title>
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			<media:title type="html">michaelsivy</media:title>
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		<title>Tale of Two Supermarkets: Why Fresh &amp; Easy Flopped and Fairway Flies High</title>
		<link>http://business.time.com/2013/04/18/tale-of-two-supermarkets-why-fresh-easy-flopped-and-fairway-flies-high/</link>
		<comments>http://business.time.com/2013/04/18/tale-of-two-supermarkets-why-fresh-easy-flopped-and-fairway-flies-high/#comments</comments>
		<pubDate>Thu, 18 Apr 2013 09:45:48 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Food and Beverage Industry]]></category>
		<category><![CDATA[Future of Retail]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Saving]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[Aldi]]></category>
		<category><![CDATA[Arizona]]></category>
		<category><![CDATA[california]]></category>
		<category><![CDATA[Fairway]]></category>
		<category><![CDATA[Fairway Market]]></category>
		<category><![CDATA[Fresh & Easy]]></category>
		<category><![CDATA[groceries]]></category>
		<category><![CDATA[grocery store]]></category>
		<category><![CDATA[las vegas]]></category>
		<category><![CDATA[Nevada]]></category>
		<category><![CDATA[New York]]></category>
		<category><![CDATA[supermarket]]></category>
		<category><![CDATA[Tesco]]></category>
		<category><![CDATA[Trader Joe's]]></category>
		<category><![CDATA[Whole Foods]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=77975</guid>
		<description><![CDATA[This week, the death of one high-profile grocery chain, and the ascendancy of another, tells us a lot about what Americans want in a supermarket—and what we&#8217;re just not buying. On Wednesday, Fairway, the beloved New York-centric supermarket chain, went public, and shares of the company quickly shot up 39%. Born as a produce stand on Manhattan&#8217;s Upper West Side, Fairway now has a dozen locations, and it plans on opening as many as 300 stores around the country. Also on Wednesday, news spread that Fresh &#38; Easy, the supermarket brand launched in the U.S. five years ago by Tesco, Britain&#8217;s biggest grocery company, was officially a failure. Tesco announced it would cut its losses on Fresh &#38; Easy, taking a write-off of roughly $1.8 billion. The 200 existing Fresh &#38; Easy stores, all in the American West, are up for sale. Most would agree with Philip Lempert, editor of Supermarket Guru, who said in a phone interview, &#8220;Tesco is one of the smartest retailers on the planet. They&#8217;re not a dumb company at all.&#8221; And yet, as Burt Flickinger III of the retail consulting firm Strategic Resource Group put it in a Los Angeles Times article, &#8220;Tesco&#8217;s failure will rank as one of the biggest among food retailers in modern supermarket history.&#8221; (MORE: The 5 Big Mistakes That Led to Ron Johnson&#8217;s Ouster at JC Penney) What happened? And what has Fairway done differently that has it headed in exactly the opposite direction of Fresh &#38; Easy? While both are in the same business, Lempert said, &#8220;They really represent the two extremes of what&#8217;s going on in grocery retail.&#8221; Here are a few of areas where the differences are readily apparent. Understanding Customers &#38; Locations The first Fresh &#38; Easy opened in the U.S. in 2007. Tesco originally planned on having 200 stores by the end of 2009, and upwards of 400 locations by early 2013. Instead, by the fall of 2010, when the total stood at 168 U.S. locations, the company announced it was &#8220;mothballing&#8221; 13 stores, including<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=77975&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Food and Beverage Industry</primary_category><primary_category_link>http://business.time.com/category/companies-industries/food-and-beverage-industry/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/04/166829339.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2013/04/166829339.jpg?w=240" />
		<media:content url="http://timebusinessblog.files.wordpress.com/2013/04/166829339.jpg?w=240" medium="image">
			<media:title type="html">Fairway Group Jumps in Trading After Pricing IPO Above Range</media:title>
		</media:content>

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			<media:title type="html">bradtuttle</media:title>
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		<title>What&#8217;s Behind the Crash in the Gold Market?</title>
		<link>http://business.time.com/2013/04/16/whats-behind-the-crash-in-the-gold-market/</link>
		<comments>http://business.time.com/2013/04/16/whats-behind-the-crash-in-the-gold-market/#comments</comments>
		<pubDate>Tue, 16 Apr 2013 16:39:00 +0000</pubDate>
		<dc:creator>Christopher Matthews</dc:creator>
				<category><![CDATA[Commodities]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=77839</guid>
		<description><![CDATA[One of the more interesting phenomena to take place in the markets in recent memory has been the seemingly invincible rise in the value of gold. In the decade between 2001 and 2011, the price of gold rose from $256 per oz. to a high of $1,920 — a whopping 650% return for those lucky enough to have timed the trade perfectly. But since 2011, the gold market has shown signs of weakness, culminating in a multiday crash that began on Thursday and continued into Monday. According to the Wall Street Journal: Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974. So what&#8217;s behind the remarkable rise in the value of gold — and what changed in recent days that has undermined investor confidence in it? (MORE: The Real Significance of the Bitcoin Boom (and Bust)) The first thing gold skeptics like Warren Buffett will remind you about the precious metal is that it doesn&#8217;t have nearly the utility of other commodities like oil or copper. Sure, we use it for jewelry or dental fillings, but mostly we just let it sit there. In 1998, Buffett famously quipped: &#8220;Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.&#8221; It&#8217;s true: unlike stocks, gold doesn&#8217;t pay a dividend. And unlike oil, it isn&#8217;t a vital commodity that powers other parts of the economy. Though Buffett may be justified in personally shying away from investing in the shiny metal, in other respects he underplays its significance. Gold has held an enduring place in<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=77839&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Commodities</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/commodities-wall-street-markets/</primary_category_link>
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			<media:title type="html">christopherrmatthews</media:title>
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		<title>What the Boston Bombing Means for the Economy and the Stock Market</title>
		<link>http://business.time.com/2013/04/16/what-the-boston-bombing-means-for-the-economy-and-the-stock-market/</link>
		<comments>http://business.time.com/2013/04/16/what-the-boston-bombing-means-for-the-economy-and-the-stock-market/#comments</comments>
		<pubDate>Tue, 16 Apr 2013 12:23:11 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Bonds]]></category>
		<category><![CDATA[Commodities]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Exchanges]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Markets]]></category>
		<category><![CDATA[Mutual Funds]]></category>
		<category><![CDATA[Portfolio Strategy]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Tourism]]></category>
		<category><![CDATA[Travel]]></category>
		<category><![CDATA[Wall Street]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=77856</guid>
		<description><![CDATA[Terrorism poisons everything. The greatest damage, of course, results from the lives that are lost and the people who are injured. Nonetheless, it’s natural to wonder whether an event such as yesterday’s bombing at the Boston Marathon is likely to have a longer-term impact on the economy and the stock market. Anything that makes people more anxious and uncertain about the future has a negative effect on business and on stocks. The bombing occurred shortly before 3 p.m. E.T., and the Dow — which had earlier in the day started to rally from the day’s lows — fell another 120 points in the last hour of trading. Is that likely to be it? Or should investors expect further big losses over the coming days and even weeks? The attack on September 11, 2001, seems to suggest that the effects of a terrorist attack might be long lasting. Following that tragedy, the Dow dropped 1,400 points and needed more than two months to get back to even. However, it’s worth noting that at the time of the attack on the World Trade Center, the Dow was already down 1,500 points from the year’s high. And after the market made up its losses from 9/11, it went on to gain another 1,000 points in the first four months of 2002. So clearly there were other factors driving stock prices. Moreover, not all incidents have such a drastic impact. In fact, it’s possible to divide terrorist acts into four categories with dramatically different economic results: Attacks on individual companies. Terrorism that targets a specific company — such as the kidnapping of employees or the bombing of offices — has a damaging effect on the shares of the company targeted. In some cases, a stock can be hit hard and have a sizable loss. But overall, the effect tends not to be very great. A recent study found that in 75 incidents, the average stock-market loss was only 1% or 2%. Competitors were not affected one way or the other. Attacks on the energy sector.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=77856&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Wall Street &amp; Markets</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/</primary_category_link>
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			<media:title type="html">michaelsivy</media:title>
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		<title>A Bentley Boom? Rising Sales for Luxury Automakers Like Bentley, Jaguar, Porsche</title>
		<link>http://business.time.com/2013/04/15/a-bentley-boom-rising-sales-for-luxury-automakers-like-bentley-jaguar-porsche/</link>
		<comments>http://business.time.com/2013/04/15/a-bentley-boom-rising-sales-for-luxury-automakers-like-bentley-jaguar-porsche/#comments</comments>
		<pubDate>Mon, 15 Apr 2013 14:48:29 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Autos]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Economic Indicators]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Odd Spending]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[Audi]]></category>
		<category><![CDATA[Bentley]]></category>
		<category><![CDATA[BMW]]></category>
		<category><![CDATA[BMW M5]]></category>
		<category><![CDATA[elite]]></category>
		<category><![CDATA[horsepower]]></category>
		<category><![CDATA[Jaguar]]></category>
		<category><![CDATA[land rover]]></category>
		<category><![CDATA[Porsche]]></category>
		<category><![CDATA[rich]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=77553</guid>
		<description><![CDATA[So much for scaling back. The world&#8217;s rich and elite &#8212; or those who just want to appear so &#8212; have been cracking open their wallets in a big way lately, and luxury automakers are the beneficiaries. Bentley Motors announced that sales in the first quarter of 2013 were up 26% globally compared to the same period last year. Sales in the Americas increased 35% for the same time frame. The automaker, which is known for high-price, high-end models like the new Flying Spur (MSRP from $200K), still has a very small portion of the auto market. Just 2,212 new Bentleys were delivered to customers worldwide during the first three months of 2013, compared to 1,759 the year before. Even so, Bentley isn&#8217;t a mass-market type of operation, and the automaker is on pace for what it would consider a huge year. In 2011, for example, global sales hit 7,003, a 37% increase over the previous year. This year, Bentley should easily top that 2011 sales total. More importantly, in terms of gauging the state of the global economy (and the willingness of the rich to drop big bucks on plush, pricey new toys), it&#8217;s noteworthy that Bentley is hardly the only luxury automaker doing brisk business lately. USA Today reported that Porsche just had its best January ever for sales, up 32% compared to January 2012. Once February and March sales totals were in, Porsche Cars North America announced it had experienced its best-ever first quarter, with 9,650 vehicles sold, a rise of 35% compared to the same period last year. Audi also said that it just had the &#8220;strongest first quarter in its history&#8221; with 369,500 units sold, up around 7% from the January-March period in 2012. Jaguar Land Rover sales were up 17% in the first quarter, according to the Guardian. (MORE: Luxury Wheels, Honda Price: New Breed of Upscale Cars Selling for About $30,000) Given the numbers, it&#8217;s unsurprising that expensive new luxury models have been flooding auto shows. A recent New York Times piece offered<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=77553&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Wealth</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/wealth/</primary_category_link>
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			<media:title type="html">bradtuttle</media:title>
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		<title>The Real Significance of the Bitcoin Boom (and Bust)</title>
		<link>http://business.time.com/2013/04/12/the-real-significance-of-the-bitcoin-boom-and-bust/</link>
		<comments>http://business.time.com/2013/04/12/the-real-significance-of-the-bitcoin-boom-and-bust/#comments</comments>
		<pubDate>Fri, 12 Apr 2013 09:45:40 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Banking]]></category>
		<category><![CDATA[Currency]]></category>
		<category><![CDATA[E-commerce]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economics & Policy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Financial Privacy]]></category>
		<category><![CDATA[Financial Regulation]]></category>
		<category><![CDATA[Government]]></category>
		<category><![CDATA[Information Technology]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Saving]]></category>
		<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Technology & Media]]></category>
		<category><![CDATA[The Economy]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[World Finance]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=77371</guid>
		<description><![CDATA[The volatile rise-and-fall of Bitcoin has prompted lots of stories explaining why the online virtual currency is a classic bubble. Many compare it to tulip mania in 17th century Holland, where prices of rare tulip bulbs soared to absurd heights and then crashed, ruining the speculative investors who had bought them. But the Bitcoin phenomenon is more than a bubble. It says something important about the current and future state of the global economy. The scale of the recent boom-and-bust has been staggering indeed. At the start of the year, a Bitcoin was worth $13.51. Earlier this week, it traded as high as $266. And on Thursday, it plummeted to less than $100, as one of the exchanges where Bitcoins are traded closed temporarily. This would be comparable to the exchange rate for the British pound soaring from $1.62 (where it was on Jan. 1) to $31.90 and then falling back to $12. Such monumental appreciation and volatility are clearly the result of speculation — people buying the online currency just because they think its value will rise, not because they want to use it to purchase goods and services. But Bitcoins’ gains are not the result of speculation alone. They partly reflect the fact that the Bitcoin system is much better designed than previous online currencies. And more significantly, the run-up also reflects anxiety about the safety of the global banking system and the stability of major international currencies. (MORE: No Money, No Problems: Canada Considers Completely Digital Currency) The technicalities of the Bitcoin system are complex, but to make this online currency more successful than previous versions, the designers overcame two key challenges. First, to prevent counterfeiting, they attached a history of transactions to each currency unit — but allowed users to keep their transactions nearly anonymous. Counterfeiting is hard because fake Bitcoins would need an authenticated history to pass muster. Second, they strictly controlled the supply of Bitcoins outstanding — thereby saving it from the disastrous fate of, for example, the paper currency known as assignats that were issued during<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=77371&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>World Finance</primary_category><primary_category_link>http://business.time.com/category/world-finance/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/04/biz-bitcoin-130412.jpg?w=240</featured_image>
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			<media:title type="html">Bitcoin Value Soars And Drops</media:title>
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			<media:title type="html">michaelsivy</media:title>
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		<title>10 Biggest 401(k) Mistakes—and How to Avoid Them</title>
		<link>http://business.time.com/2013/04/10/10-biggest-401k-mistakes-and-how-to-avoid-them/</link>
		<comments>http://business.time.com/2013/04/10/10-biggest-401k-mistakes-and-how-to-avoid-them/#comments</comments>
		<pubDate>Wed, 10 Apr 2013 18:14:43 +0000</pubDate>
		<dc:creator>Martha C. White</dc:creator>
				<category><![CDATA[401(k) Savings]]></category>
		<category><![CDATA[Financial Planning]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Portfolio Strategy]]></category>
		<category><![CDATA[Retirement]]></category>
		<category><![CDATA[Saving]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>
		<category><![CDATA[401k]]></category>
		<category><![CDATA[401k Contribution]]></category>
		<category><![CDATA[401k Fees]]></category>
		<category><![CDATA[401k Match]]></category>
		<category><![CDATA[401k Savings]]></category>
		<category><![CDATA[retirement investing]]></category>
		<category><![CDATA[Retirement Plan]]></category>
		<category><![CDATA[Retirement Savings]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=76088</guid>
		<description><![CDATA[As traditional defined-benefit pensions become increasingly rare, more Americans instead are offered employer-sponsored 401(k)s, defined-contribution plans that require participants to be more proactive and educate themselves. Here are the biggest pitfalls experts say can do the most damage to your nest egg. Not having one. Let’s get this one out of the way. The experts unanimously agree that the biggest mistake you can make is to not have a 401(k), especially if your employer matches your contributions. Collectively, we’re ridiculously underfunded for retirement Going with the default contribution level. Some people assume that their plan’s &#8220;default&#8221; contribution level is sufficient to fund retirement: It’s not. The most common default contribution level is 3% of an employee&#8217;s income, but Stephen Utkus, principal and director in the Vanguard Center for Retirement Research says people with a household income of between $50,000 and $100,000 should be saving 12% to 15%, between their contributions and whatever their company matches. People who make more than that should aim to save 15% to 20%, and workers earning below $50,000 should ideally be socking away 9% to 12%. Abandoning a 401(k) after you switch jobs. With all of the upheaval that comes with switching jobs, it can be easy to forget about rolling over your 401(k). But letting one languish can have serious consequences, says Dana Levit, owner of Paragon Financial Advisors, a fee-only financial planning firm. The funds themselves where your money is parked could change to the point where they no longer fit your investment goals, and if the plan changes hands, your money could get dumped into cash by default, where it won&#8217;t even keep up with inflation. So don&#8217;t put off a rollover once you&#8217;re eligible to join your new company&#8217;s plan. (MORE: We Talk a Big Game But Don&#8217;t Follow Through When it Comes to Saving for Retirement) Withdrawing funds too soon. Cashing out your retirement fund is a horrible idea all around. The money will be taxed at your regular income tax bracket, plus you&#8217;ll get hit with a 10% penalty fee. On top of this,<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=76088&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>401(k) Savings</primary_category><primary_category_link>http://business.time.com/category/personal-finance-2/401k-savings-personal-finance/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/04/91830055-1.jpg?w=240</featured_image>
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			<media:title type="html">marthacwhite</media:title>
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