Hedge fund Senator Investment Group told clients on Thursday that its founding partners are splitting up, ending one of the industry's more profitable and durable professional marriages.
Former U.S. senator Alan Simpson summarized the argument well: seniors fighting Social Security benefit cuts were nothing more than "greedy geezers" stealing from young people "who are going to get gutted." The Wyoming Republican's memorable phrase from 2012 is a good example of the colorful language of so-called intergenerational warfare - pitting generations against one another with zero-sum-game economic arguments.
T. Rowe Price Group Inc said on Thursday it would ratchet up the risk in its target-date retirement portfolios, boosting stock allocations to as much as 98% for younger investors.
When former investment manager Ron Cordes started a charitable foundation in 2007, he got frustrated because he could only "do good" when he was actively giving the money away to needy causes.
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