Last July, when Federal Reserve Chair Janet Yellen spurred a sell-off in healthcare stocks by saying that valuations in shares of biotech companies looked "stretched," portfolio manager Graham Tanaka saw an opportunity.
Where they've been tried, the evidence shows, well-designed carbon taxes have succeeded in reducing greenhouse-gas emissions. But that doesn't necessarily end the debate over their effects—nor should it.
Princess Diana famously remarked that there were three people in her marriage to Prince Charles once you included Camilla Parker Bowles, whom he later married. Companies seeking cross-border mergers in Europe need to be wary of ending up in similarly overcrowded relationships as governments start to demand dowries and a share of the marital bed.
Pete Nessler, CEO of FCStone Group, was raised in Chicago but earned his stripes in the grain fields of Iowa. Working with elevators and farmers, he helped turn Farmers Commodities Corp. from a group of co-ops into the international brokerage firm INTLFCStone that it is today.