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...Charles Schwab reported weaker than expected revenue in the third quarter, as the reverberations of higher interest rates that pushed clients into higher yielding money market funds during the banking crisis...
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...The inflows marked a reversal from the first quarter as investors pulled money out of passive funds while the benchmark S&P 500 repeatedly hit record highs....
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...Welcome to the Five Minute Investor from Money Clinic....
...But most of the ETF providers attracting these inflows — even early winners such as BlackRock and Fidelity — have yet to make much money on their products, as they have cut fees for early investors to nothing...
...It was one of the hottest tickets of a week when thousands of money managers, bankers and investors descended on Beverly Hills for junk bond king Michael Milken’s annual jamboree....
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