Personal Finance

Your Money in the News

Fischer Praises Economy, Straddles FOMC Liftoff Date Camps

Federal Reserve Vice Chairman Stanley Fischer left open the option of an interest-rate increase next month, walking a line between officials who want to delay due to market turmoil and those who say the economy is strong enough to handle a move.

While Many Panicked, Japanese Day Trader Made $34 Million

While a lot of investors were hitting the panic button Monday, a Japanese day trader who’d made a big bet against the market timed the bottom almost perfectly and narrated a play-by-play of the trade to his 40,000 Twitter followers. He claims to have walked away with $34 million.

Markets

Hedge Funds Ditch Alibaba for Rival JD.com

Less than a year ago investors were scrambling to pick up shares in Alibaba Group Holding Ltd. when Asia’s largest e-commerce company made its record debut on the New York Stock Exchange. Now sentiment is changing as JD.com Inc., its smaller competitor, is becoming a hedge fund favorite.

Retirement

How to Find -- and Afford -- Your Second Act

Stat

$5.7 billion

The Internal Revenue Service collected about that much in 2011 from penalties for early withdrawals from 401(k) retirement savings accounts

Videos: In The Money

Are Global Markets in a Currency War?

Harvard's Gita Gopinath discusses the outlook for global currencies with Bloomberg's Brendan Greeley at the Jackson Hole economic symposium in Jackson Hole, Wyoming. (Source: Bloomberg)

Inflation Expectations Add to Fed Rate Hike Dilemma

James Rickards, portfolio manager at West Shore Group, discusses the Federal Reserve's inability to spark inflation and the cross-influence of markets and the Fed. He speaks on "Bloomberg Markets." (Source: Bloomberg)