Gold keeps shining
Gold got off to a fast start in 2006, hitting a high of $725 an ounce in May. Though it has lost about $80 since then, it remains well above the $500 an ounce it was fetching when we suggested in last year's Investor's Guide that it still had room to run. Many of the factors we cited in making our call are still influencing the market, including strong demand from China and India, a weak dollar, and global worries about terrorism and political tensions. We'd add to that list the threat of renewed inflation in a world so awash in liquidity that private-equity mega-deals are now weekly events. So if you liked gold in 2006, chances are you'll want to stick with it in 2007.
Ten rules for building wealth
After all the bruising and pounding that portfolios have taken in the past decade, it'd be easy to mistake investing for a contact sport. (The crushing blows of the tech bust! The rush of buying Google at $100!) But building a portfolio shouldn't be brutal--and it doesn't take fancy plays. It takes patience and discipline. What follows are ten rules for building wealth, whether you're starting early or catching up. It might not feel as if you're wowing the crowd, but follow these guidelines and when it's time to retire, you'll be dancing in the end zone.
Money maker
I've been working here since 1974. At that time, I was an illustrator but had never sculpted. Since then I've designed 35 medals and 43 coins. We are all classically trained, and we demand a lot [of ourselves] because the Mint is known for its beautiful coins. I've made quarters for Pennsylvania, North Carolina, Iowa, West Virginia, and Arkansas. The individual states supply the Mint with a written concept. My division comes up with the visual interpretations. Then the state votes on them, or sometimes the governor makes the decision, but the Treasury Secretary has to sign off on everything we do. Ultimately the [state] picks the design, and we begin sculpting it. We transfer our design to an eight-inch round clay model, which in turn is transferred to plastic. An engraving and transferring machine, called a Janvier, reduces the artwork to a coin size on a piece of steel. It can take months to make one. The best part of my job is seeing the finished product--holding the coin in my hand. It's satisfying to see them all over the country.
The millionaire mentor
For two decades Janet Hanson was a typical Wall Street workaholic. She started her career at Goldman Sachs in 1977 straight out of Columbia Business School, quickly mastered the 18-hour day, and became the first woman promoted to sales management.
Creating the right retirement mix
When it comes to saving for retirement, it's natural to think you can never have too much of a good thing: The more you sock away in tax-deferred IRAs and 401(k)s the better, right? Not so fast. If you're not careful about the way you save--and how you start withdrawing money as retirement nears--you or your heirs may watch your hard-earned savings disappear into the hungry maw of the Internal Revenue Service.
Genentech to unveil more on key cancer drug
Genentech will unveil new details this weekend on tests of Avastin, one of its biggest-selling medicines, as it seeks to find new markets for the cancer drug.
Can you say guacamole in Chinese?
For years, Mexican economists and businessmen have blamed economic woes on China, a country that has sucked away hundreds of thousands of manufacturing jobs and that exports to Mexico 17 times what Mexico sends to it. (Last year's trade deficit was $14 billion.)
A post-coup bounce – but can it last?
Bangkok traffic is jammed again. The tanks and soldiers that cleared the Thai capital's boulevards during the September coup have gone back to their barracks. The crowds who cheered them on--gleeful at the ousting of Prime Minister Thaksin Shinawatra--have returned to work.
Stocks stuck on earnings
Stocks remained mixed in late Friday afternoon trade as Wall Street was hesitant to embrace better-than-expected results from such Dow components as IBM and Citigroup as the earnings season begins to pick up steam.