While profits might still grow by double digits, he said, they won't be the 16 or 17 percent gains built into many analysts' estimates.
The gains built on a nearly two-week rally that has brought the S.& P. 500 up 13.2 percent for the year and the Dow up 14.27 percent for the year.
The latest rule, adopted on Jan . 19 should resonate with the many investors who were burned last year by an unfortunate double whammy: growth funds that fell precipitously in value but still distributed big taxable capital gains built up in previous years.
At the close, the American markets had shaved off some of the gains built up over the last three trading sessions that had propelled them to recover from losses in the wake of the Standard & Poor's Aug. 5 downgrade of America's long-term credit rating.
In a system in which one year's gains build on the next, the disaster of 2008 will dent retirement savings long after the recession ends.Over the last 30 years, private pension accounts have largely replaced defined-benefit plans in America and Britain.
Over time, reinvested dividends and capital gains build substantial nest eggs.
Stephen Bowey, a partner at LeapFrog, said the firm works hard to ensure that gains are built upon.
Gain It has a built in gain boost.
Learning from and working with the highest caliber professors and classmates was one of the key drivers that enabled me to gain and build on the aforementioned skills.
He then used his acknowledged popularity to gain or build the narrow margin by which Virginia's ratification of the Constitution was won.
