Word: approaching
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...more, trading pollution allowances could raise hundreds of billions of dollars. Clinton and Obama want all the allowances auctioned to the highest bidder, a position McCain would not accept. The fossil-fuel industries want them given away. Lieberman-Warner uses a mix of giveaway and auction, a seemingly fair approach but one that has split enviros--some of whom see the bill as weak. Industry is ambivalent too. The National Association of Manufacturers is dug in against the bill. A large and growing number of corporations know that a cap is inevitable, though few have come out in favor...
...already be so well diversified that you need not make many adjustments. A disciplined investment approach through good times and bad is ever the best policy. Trying to time the stock market is especially futile. In the 20 years through 2006, the Standard & Poor's 500 returned an average annual 11.8%, but the typical stock-fund investor earned only 4.3%, according to a study by research firm Dalbar. Fund fees play a role in that gap. But investors' errant attempts to move in and out of stocks at lows and highs are mostly to blame...
Even a disciplined approach, though, allows wiggle room to get more or less aggressive. Right now it pays to play things safe, says Richard Bernstein, chief investment strategist at Merrill Lynch: "There is nothing wrong with cash." Yet be warned: yields on money-market funds and bank CDs are low and going lower. Don't plan on holding lots of cash for more than six months. One good option, says Bernstein, is Treasury bonds, which on a total-return basis have outperformed stocks in five of the past eight years--a first since the Depression. He believes that trend will...
...what may well be a preview of the approach he takes in the debate, Obama responded to the elitist charge at a town hall for veterans earlier this week by turning the accusation around. "I am amused by this notion of elitist given that - when you are raised by single mom, when you are on food stamps for a while when you're growing up, you went to school on scholarship," Obama said "So when someone makes that argument, particularly when I've spent my entire life working with workers in low-income communities to try to make peoples lives...
...influence he expected - Blair "massively overstated the importance of personal charisma and personal connections," says Katwala - and Britons became disenchanted with their then leader precisely because of this closeness and the sulfurous taint of the Anglo-American alliance on Iraq. Katwala maintains that Brown's businesslike approach to foreign leaders is in tune with the times. Denis MacShane, a former Labour Foreign Office Minister, echoes the point: "Brown wants respectful state-to-state relations with tricky countries like Russia and China, but he's not getting into that schmoozy clinking of beer glasses in the best Tony...