Deals & People November 30, 2010

Falcon Named JPAM Retirement Chief

J.P. Morgan Asset Management hired Michael Falcon as Managing Director and Head of Retirement in the U.S. and Canada.
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A news release said Falcon will be based in New York at the firm’s headquarters and will report to George Gatch, Chief Executive Officer of J.P. Morgan Investment Management Americas. Pam Popp, CEO of Retirement Plan Solutions, and David Musto, Managing Director, DC Investment Solutions, will report to Falcon (see “J.P. Morgan Asset Management Realigns DCIO Teams“). 

Falcon has 25 years of experience in personal finance, investments, banking and consumer products. Most recently, Falcon has been managing a financial media and consulting firm founded by NBC’s Today financial editor, Jean Chatzky, as well as serving Knowledgent Group and BrightScope.com as a senior adviser, according to the announcement.

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Between 2000 and 2008, Falcon was a senior executive in Merrill Lynch’s Wealth Management business, where he ran the retirement group, providing 401(k), DB, NQDC, IRA, 529, Equity Award and Retirement Planning solutions to corporations, individuals and financial advisers.  He began his career at The Chase Manhattan Bank in 1985 and later spent 11 years with Sara Lee Corporation in Chicago, Paris and North Carolina.

Data & Research November 30, 2010

Schwab Study Finds Active Traders Like Volatility

Charles Schwab released a study today that found although active traders are feeling more optimistic, being properly hedged against risk is a concern for many.  
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The latest “Charles Schwab Active Trader Sentiment Survey” polled more than 500 individual investors who trade frequently (at least 36 times per year). Of those, seven out of ten (71%) currently consider market volatility a friend, compared to 29% who view volatility as a foe.

Thirty-eight percent expressed a bullish outlook for the market in the next six months; up from 28% in the last survey published in April. Only 16% are bearish, compared to 21% in April. As bullish sentiment ticks up, traders are putting more money to work. Thirty-six percent of traders recently changed their portfolio allocation to include more cash, down from 43% in April.

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However, only 14% of those surveyed say they are very confident that their portfolios are properly hedged against risk.

The study also found that nearly half (46%) of respondents report they are regularly trading options as a potential method of generating extra income. Ownership of foreign equities is also becoming more common. Fifty-six percent of active traders surveyed say they are exposed to foreign equities, predominantly through exchange-traded funds (ETFs) or American Depository Receipts (ADRs) of non-U.S. based companies.

Traders participating in the Schwab survey also show a clear preference toward technology stocks. Thirty-eight percent say they are now the most bullish on the technology sector, followed distantly by materials (17%), financials (12%), industrials (10%) and consumer discretionary (6%).

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