In December 1991, Ray DeChaine got an ugly Christmas present. Wrapped in an envelope from his Merrill Lynch broker was some bad news. It seemed the $80,000 he'd invested back in 1985 wasn't worth $80,000 anymore.
IF MANAGING MONEY SEEMS COMPLICATED. lit may not be nearly as complex as finding the right financial planner. The struggle begins when you try to figure out the string of acronyms, from PFS to CFA, that some advisers flaunt.
STOCKS MAY BE DOMInating the headlines, but they're not the only investments that have hit hard times. Bonds have been under siege since early February, when the Federal Reserve jacked up short-term interest rates to smother signs of impending inflation.
WHEN PAINEWEBBER introduced its new ad campaign in 1991, retail chief Joe Grano saw several thousand of his brokers do a double take. If you watch any television, you've seen the ads: a happy customer is telling a less happy friend how good they have it.