SURVEY SAYS – Who's Your World Series Pick?

October 28, 2009 (PLANSPONSOR.com) - This week's survey question is simple.

I asked readers who you were rooting for in the World Series; the Yankees (or anybody who plays the Yankees), the Phillies (or anybody who plays the Phillies) – or none of the above?  

A clear plurality thinks it will be a six-game series – in fact, nearly half ( 48.4% ) were of that opinion.   The next most common response was the 18.7% that thought it would last 5 games, while nearly as many ( 16.8% ) thought the series would go the distance (seven games).

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Just about 1% thought it would be over in four – but 14.8% were of the opinion (apparently no matter how long it ran) that it would run “too many” days (as one reader said, “more than 1 game is too much baseball!” – or another who said “I am rooting for whomever ends the series first” ).

Discont “Adds?”


Now, most of the respondents this week were FOR one team or the other (more on that in a minute) – but there were some voices of “discontent”:

“I am rooting for whomever ends the series first.”

“This couldn’t be a worse World Series as far as I’m concerned. I am a Mets fan and despise both the Yankees and the Phillies. If I had to choose I would go with the lesser of the two evils – the Phils. But whatever happens, happens. Maybe the weather will be so bad that all of the games will be cancelled.”

And a good number of folks (presumably on the West Coast) had been hoping for a different combination:

“Once the Dodgers and Angels were done, so was I!”

“My interest in baseball is limited under the best of circumstances. After watching both Southern California teams self-destruct, I have no interest in the World Series. Bring on football and hockey.

“Nobody west of the Pennsylvania cares! (from poor sport in SoCal – Editor’s Note: their characterization, not mine).”

As for which team was favored, well this year the Phillies have it - and then some.   First off, a clear plurality - 33.5% - said they were rooting for the National League champs, well ahead of the 22.6% who were favoring the Yankees.  

What I found interesting, however, was that an additional 26% said they were pulling for the Phillies - but only because they were rooting AGAINST the Yankees!   Even more interesting - not a single survey respondent said they were pulling for the Yankees as a proxy for rooting against the Phillies.

The remaining 18% ?   Well, they were in the "neither/none of the above" category.

"Favorite" Comments

There were the general intriguing assortment of verbatim comments - but these were my favorites:

"Born and raised in Philadelphia, and married to a die-hard Phillies phan, it would be a death sentence if I were to be anything other than a Phillies Phan!"

"I'm in New York and ordinarily I'd be for the Yankees. But my ex is a huge Yankees fan, for his sake, I'd love to savor their sweet defeat. Ah glorious. Not going to happen though. I'm guessing Yankees in five."

"I was born in the Bronx and now live outside of Philly. While I am big Yankees fan, my boys (ages 18 and 16) are diehard Phillies fans. The trash talk has been going on for quite some time. My poor wife, who is a Mets fan, can't stand either team. Should make for some interesting evenings!"

"The first time I introduced my (now) husband to my parents, my father told him that they raised me "to be a Yankees fan, a NY Giants fan and a Roman Catholic .... in that order."

"For the first time in a while the two best teams appear to have made it to the Series."

But this week's Editor's Choice goes to the reader who observed, "This could be a classic!"

Thanks to everyone who participated in our survey!

  • Still sore about players and owners who would let a World Series be cancelled.   It dawned on me that these "heroes" of my youth were not people I would want to emulate or have my children (and now grandchildren) emulate.   And, with the media now making it more than ever about the individual (usually the individual broadcaster), I have lost all interest since there is no "team" involved or any attributes like sacrifice, commitment, honesty, etc.   It's all about "me and my money".
  • Two big market teams buying thier way to the title. Who cares.
  • Yankees SUCK!   (Can you tell I live in MA and I'm a Red Sox fan?)
  • With out the Umpires the Yankees don't make the World Series, you think MLB does not know which teams draw the most money.
  • It will most definitely be the Yankees...I saw a catchy phrase yesterday.   It said "Silly-delphia" really can't believe they'll win, do they?!   That about sums it up, don't you think?!   Go Yankees!
  • I was born in the Bronx and now live outside of Philly.   While I am big Yankees fan, my boys (ages 18 and 16) are diehard Phillies fans.   The trash talk has been going on for quite some time.   My poor wife, who is a Mets fan, can't stand either team.   Should make for some interesting evenings!
  • I lived in the Phila area before moving to central PA in 2006. I had partial season tickets to the Phila Phillies from 1976 (year I graduated from college) to 2005. the Phils played well as soon as I left for State College. I will be at game 4 of the World Series and I remain a huge fan.
  • the picture of Victorino on the Post yesterday was the first volley of the battle and the phillies are up for the challenge -- we'll just take the high road and beat them!!!
  • It will be decided in the bottom of the 9th.
  • I plan on coming down with 'Yankee fever' the day of the Tickertape parade in lower Manhattan.   I skipped school on parade day every year during their 98/99/00 three-peat, and even though I am now working in DC, I am willing to miss important meetings just to go back and wait in the Canyon of Heroes to take part in the insanity that is a Yankee parade.   Go Yankees!!
  • Jimmy Rollins predicted Phils in 5.   He's been right so far, and I anxiously await this year's sea of red up and down Broad Street as the World Champion Phillies celebrate their repeat victory with the world's greatest fans!!! Go Phillies!
  • If I wasn't already a Phillies fan, I would have to say I would root for anyone but the Yankees.
  • Go Phillies.   I think A-Rod is "cycling" again. Actually had some hits in the post-season?   The Phillies bats will prove too much for the Yanks starters/middle releif. Mariano won't get a opp to close it out.   Brad Lidge picked a REALLY GOOD time to figure things out and will have just enough gas left to close out the Yanks in 6.   CC, (MIL) rocked him in the NLCS last year and expect much of the same tonight. "Whose your Daddy" throws at Yankee stadium for Game 2, just gotta love that!   A game 7 in New York would be nice though, have to admit so Jimmy Rollins can work his late inning magic, again.
  • People need to remember that the Yankees are more than just the person who happens to own them.   They are a team of great players.
  • Since the Cubs are not playing, I don't really care who wins....although I will root for the Phillies because Jason Werth is our hometown kid.
  • ANYONE who can beat the Yankees is who I will root for; any game, any year, any series.
  • I'm in New York and ordinarily I'd be for the Yankees. But my ex is a huge Yankees fan, for his sake, I'd love to savor their sweet defeat. Ah glorious. Not going to happen though. I'm guessing Yankees in five.
  • Baseball would be much more enjoyable if it did not seem that the camera men enjoy getting a close up of grown man spitting.   It gets worst if you have HDTV.
  • Based in the stats, records and place in popular culture, the Yankees are the best base ball team ever.
  • I live and work in Philly!   We will REPEAT as WORLD CHAMPIONS!
  • I hope every game is played in cold (40 degrees or below), misty or rainy weather so that someone may realize that the baseball season is too d**m long!   The idea of baseball in November is NUTS!   This is a warm weather game and the championship should not be decided under sub-optimal conditions.
  • Phillies...Phillies....Phillies !!!   I could comment on their great talent and all that's good about the team (key word is "team") as opposed to the purchased group known as the Yankees.   But I'm actually looking forward to the football-snob comments that come this time of year!!!
  • I was routing for the West--Angels or Dodgers.   So now I don't care.
  • Red Sox fans only like TWO teams: The Red Sox, and whoever is playing the Yankees!
  • How can you root for a sport where all of the best players are on so few teams. If any player distinhuishes himself in a smaller market team, those teams snap him up and expectedly end up in the World Series (i.e. CC Sabathia form Milwaukee). It was much better when it was a game.
  • The first time I introduced my (now) husband to my parents, my father told him that they raised me "to be a Yankees fan, a NY Giants fan and a Roman Catholic .... in that order."
  • This couldn't be a worse World Series as far as I'm concerned.   I am a Mets fan and despise both the Yankees and the Phillies.   If I had to choose I would go with the lesser of the two evils - the Phils.   But whatever happens, happens.   Maybe the weather will be so bad that all of the games will be cancelled.
  • Red pinstripes over blue pinstripes!
  • I am rooting for the Phillies as I am from PA but must admit I despise the Yankees wealth and ability to "buy" championships to the disadvantage of nearlly every other team. Does that sound resentful??? Guess it is but imagine I am in good company!
  • I no longer watch professional sports - too many players and teams are involved in things that have nothing to do with the sport and don't represent themselves well.   I used to enjoy some basketball and football but the likes of Dennis Rodman and Michael Vick (and others of their ilk) are distracting and certainly not good role models - for anyone.   I watch college sports now.   They play to win and that's much more fun anyway (and they have the good sense to play on Saturday, as a rule, so they don't muck up the whole week's TV programs).
  • Born and raised in Philadelphia, and married to a die-hard Phillies phan, it would be a death sentence if I were to be anything other than a Phillies Phan! My father took me to at least one game each season since I was young, and my husband and I have attended 3 or more games each season for the past 15 years! He lives in Philles tee's spring, summer and fall, and Eagles tees or ND tees all winter! Of course, I am rooting for the Phillies!
  • But if the umps are still rooting for the Yankees (like the two earlier series), then I say Yankees in 7.   Yeah, I smell conspiracy.
  • For the first time in a while the two best teamsappear to have made it to the Series.
  • Baseball is dragging out to long. It should not be scheduled to go this late in the year. Next thing it will be at Thanksgiving.
  • I am a Yankees fan and have been for over 30 years...since I was probebly 5 or 6.
  • If i don't have a vested interest, i always root for the underdogs. The Yankees have won more WS than anyone else by a large margin. They have done this by outbidding other clubs for the best talent. I love when teams like the   Tampa Rays win the WS. Their entire team payroll is not equal to that of Jeter or A Rod. Until baseball is run like the NFL with a even salary cap, they will continue their descent in popularity. America's Pastime?   Maybe in the past...not in the current or future.
  • My interest in baseball is limited under the best of circumstances.   After watching both Southern California teams self-destruct, I have no interest in the World Series.   Bring on football and hockey.
  • This could be a classic!
  • "I've been a die-hard Yanks fan since the 80's (when a World Series title was just a prayer!) and I sincerely hope the ""real"" Yankees can get one last ring as their careers wind down (the only ""real"" Yankees in my mind are: Jeter, Mariano, Posada, Pettite, and I'll even throw Matsui in there too!).
  • Although it would have been nice to welcome Joe Torre back to the Bronx..."
  • Playing baseball into November gets the cold shoulder from me.
  • As a die-hard Yankees fan, I'm loving this post-season!   And how I wish everything could be as perfect and as simple as baseball - three strikes and you're out, four balls and you walk, three outs and the other team's up to bat.   If the world could only run on baseball rules!
  • Go Phils!
  • Always root against the evil empire.
  • Once the Dodgers and Angels were done, so was I!
  • more than 1 game is too much baseball!
  • The Eagles have been such a heartbreak that who can blame us for wanting 2 in a row for the home town Phils.
  • As a die-hard Red Sox fan, I root for two teams, the Red Soxs and whoever is playing the Yankees.
  • I'm actually a forlorn Cubs fan and only sort of rooting for the Phillies out of National League loyalty. Plus, its more fun to trash talk with my Yankee loving friends.
  • I'm originally from New York State (small upstate city), so I'd like to see the Yankees win.   Unfortunately, when I fly back to my hometown, most of the time I have to fly through Philadelphia.   What a pain! You're on your own!
  • After last year's semi-rain-out in Philly, this year's snow out in the NLDS in Denver, and the possibility of another rain-out tonite, there should be a rule that any team that builds a new stadium outside cannot participate in post-season playoffs.   The Twins are all excited about leaving the Metrodome for outside baseball.   Minneapolis in November is a lovely time for baseball.
  • The Phils will take one of two in New York.   They will then sweep in Philadelphia as they did with the Dodgers.   I suffered through the 1964 collapse and many other less than stellar Phillies teams.   It's wonderful to take back-to-back Series wins.   But, when next season rolls around the Phillies will still not garner the respect of the baseball world (writers and other media types) and again will be mentioned as not quite among the elite teams.
  • The Phillies have heart.   A championship team will always beat a team of champions.

Target-date Fund Practices Targeted in Senate Hearing

October 28, 2009 (PLANSPONSOR.com) - Congress once again turned its attention to target-date funds this afternoon.

In opening the hearing of the U.S. Senate Special Committee on Aging, titled “Default Nation: Are Target-Date Funds Missing the Mark?”, Chairman Herb Kohl (D-Wisconsin) noted that this was the third hearing in a series the committee had held on the subject of strengthening the 401k system (see  Senate Hearing Asks, Are Target-Date Funds Missing the Mark? ).   He also noted that target-date funds were “developed for the average worker who may understand the importance of saving, but may not appreciate the complexities of investing.”

However, regarding target-date funds, Senator Kohl said “the more we learn, the more concerns we have.”

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Citing data that suggests that 96% of Fidelity-administered plans that had implemented automatic enrollment as of March 2009 had chosen target-date funds as their default investment option, Kohl said that “a conversation about target-date funds is really a conversation about the future of America’s retirement security.

“Inappropriately High Level of Risk”

He went on to note that the composition of target-date funds “vary widely”, and said that many contained “an inappropriately high level of risk”, noting that many invested in 2010 series funds “lost as much as 41% of their 401(k) savings in 2008.”

Kohl referenced the hearing the Committee held in February (see  Senate Committee Takes Aim at Target-Dates ), and said that at that point discovered that there was “no standard” on what was labeled as a target-date fund, nor was their any regulation on their composition.   He noted the Committee’s call for regulators to look into the matter, and referenced a joint hearing held by the Department of Labor and Securities and Exchange Commission in June in response (see  EBSA/SEC to Hold Target-Date Fund Hearing ), saying he was “Hopeful that we’ll see more oversight of this product”, which he said was “on track to become the #1 savings vehicle in America.”  

Key Problems

That said, Kohl said there were three “key problems” with target-date funds that the Committee was focused on; a lack of transparency in design, that many funds charged “excessive fees” that eroded the value of assets over time, and that “fund managers have a conflict of interest in constructing target-date funds and must resist the temptation to put their interests above those of the participants.”

Kohl noted that the Committee had previously addressed the issues of hidden fees in 401k plans that can have a big impact on 401(k) balances, and that he had introduced legislation with Senator Harkin (D-Iowa) to require disclosure of 401k fees.   He also said that the Committee had examined the long-term effect of 401lk loans and withdrawals – and that he would soon introduce a bill to implement GAO’s recommendations to reduce the effects of those activities.  

“For after all,” he said, “in our efforts to encourage Americans to save for retirement, we must also make sure that they are also able to save smartly.”

Testimony was offered by representatives from several regulatory bodies and institutions.   Speaking to the issue of potential conflicts of interest, Michael Case Smith of Avatar Associates raised concerns about the fiduciary status (or lack thereof) of the firms that put together target-date funds, often with proprietary offerings, and on platforms where participants - and even plan sponsors - didn't really have access to the full variety of choices in the marketplace (see http://www.marketwire.com/press-release/Avatar-Associates-975144.html ).   He said that when target-date funds own shares of other mutual funds - typically proprietary funds, and that that can "imbed conflicts of interest" when the fund company determines its own mix, a structure that he said "can, directly or indirectly, influence their compensation."   Since the shares of the underlying fund assets aren't plan assets, rules against self-dealing don't apply - and Smith said his firm does not think that ERISA's exemption was not designed with target-date fund structures in mind.

SEC Focus

Also testifying was Andrew Donahue, Director of Investment Management, United States Securities and Exchange Commission, who said that there two areas of focus where enhanced regulation may be appropriate; fund names (if the name is materially misdirecting or misleading) and fund sales materials.   There was discussion that the use of a date in the fund name may convey a sense of appropriateness to an individual situation that may not apply.   Additionally, he noted that fund sales materials may effectively be conveying a sense that the structure/operation of the funds is simple when it isn't, or perhaps suggesting "uniformity or simplicity when those are not present."   He noted that the marketing materials for target-date funds were not as "nuanced" as the prospectus materials for those offerings.

In prepared testimony, Assistant Secretary of Labor Phyllis Borzi acknowledged that the differences in funds and performance "generate questions", and that Labor Department was concerned that these investments provide workers with a secure retirement.   She also expressed concern not only that plan participants don't understand what's inside these funds, but that plan fiduciaries don't, either.  

However, on the topic of participant disclosure, she acknowledged "You can have the best disclosure in the world, and you can't make people read it."  


The hearing is viewable online at http://aging.senate.gov/

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