Personal Finance Daily: Tax deadline looms for Roth IRA do-over

Personal Finance Daily OCTOBER 03, 2011 Tax deadline looms for Roth IRA do-over By MarketWatch Don't miss these top stories: Tax deadline for Roth IRA do-over coming up fast Don't blame ETFs for the actions of rogue traders Auto Review: 2011 Mitsubishi Lancer Ralliart Applying for scholarships? Think small Some retirement savers might rue the big tax bill that came from their decision to convert a traditional individual-retirement account to a Roth IRA, Andrea Coombes writes in her Ways and Means column. But those who made a conversion in 2010 still have a couple of weeks left to undo that move: You can undo your conversion for any reason, but time is running short for those who converted to a Roth in 2010. The deadline for a do-over is Oct. 17 this year. Also in MarketWatch's Personal Finance section, Chuck Jaffe writes that exchange-traded funds have taken a hit to their reputation recently, thanks to the actions of rogue traders. Plenty of people have wondered whether high-frequency trading — rapid-fire flipping typically done with ETFs — has heightened market volatility and had adverse effects on average investors. But, he notes, the fact that ETF trades happen independently from the underlying securities has made most observers conclude that trading in these securities is not to blame for events like the Flash Crash. Nor should the product be blamed for the actions of rogue traders. —Anne Stanley , managing editor, Personal Finance Tax deadline for Roth IRA do-over coming up fast Some savers might rue the big tax bill that came from their decision to convert a traditional individual-retirement account to a Roth IRA. But those who made a conversion in 2010 still have a couple of weeks left to undo that move. Read more: Tax deadline for Roth IRA do-over coming up fast. Don't blame ETFs for the actions of rogue traders Two high-profile misuses of exchange-traded funds has some investors worried. Those concerns are wildly overblown, says Chuck Jaffe. They stem from a public desire to spread and pin blame, and from a lack of understanding of how ETFs work. Read more: Don't blame ETFs for the actions of rogue traders. Auto Review: 2011 Mitsubishi Lancer Ralliart The company continues to crank out sports cars that are big on acceleration and handling, writes reviewer Ron Amadon. Read more: 2011 Mitsubishi Lancer Ralliart. Applying for scholarships? Think small Forget about scoring that one big scholarship or grant to cover the rising cost of college. Students are finding that smaller is often more lucrative. Read more: Applying for scholarships? Think small. The 10 best rock-and-roll movies ever made What are the 10 greatest rock-and-roll movies of all time? It is a matter of opinion, of course. Read more: The 10 best rock-roll movies ever made. INVESTING Bond-fund investors waltz to Fed's Twist It was a history-making third quarter in financial markets, which were routinely rocked by volatile events that renewed investor demand for the relative security of bond funds. Read more: Bond fund investors waltz to Fed's Twist. Small-cap and value stocks hate October For certain sectors of the market, October does deserve its bad reputation. Read more: Small-cap and value stocks hate October. Why U.S. stock funds could see year-end rally This was supposed to be another fruitful year for U.S. stocks. So far, not so good. Now, after enduring a summer-long market drought and geopolitical wildfires, investors in equity mutual funds and exchange-traded funds aren't expecting much of an annual harvest, but they shouldn't rule out a year-end rally. Read more: Why U.S, stock funds could see year-end rally. 8 stocks to consider when volatility falls Will October finally be the month in which it is safe to get back into the market? A simple VIX-based, market-timing model suggests it is too soon to act right away. Read more: 8 stocks to consider when volatility falls. ECONOMY & POLITICS Manufacturing activity edges up in September Manufacturing activity picked up a bit in September, according to a key survey that suggests a slow-growing economy has nonetheless avoided falling into recession. Read more: Manufacturing activity edges up in September. Greece to miss deficit targets; more cuts loom The Greek government says it won't meet its deficit target this year and agreed to additional austerity measures demanded by international lenders ahead of a meeting of euro-zone finance ministers. Read more: Greece to miss deficit targets. Get the latest news on our mobile site: http://www.marketwatch.com/m MarketWatch has sent you this newsletter because you signed up to receive it. To ensure you receive this newsletter in the future, please add marketwatchmail.com to your list of approved senders. 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