Word: assets
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Dates: during 1990-1999
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...still summon U.S. Senators--the Keating Five--to his defense at the touch of a phone pad? Or procure the services of top law and accounting firms? Or hire Alan Greenspan, who, before he became Fed chairman, gushed over the "outstanding success" of Lincoln Savings & Loan, Keating's star asset? No. All that happened before Lincoln crashed in a $3.4 billion pile of broken dreams, the most costly savings and loan failure in U.S. history...
...year's results suggest the gap is widening, indicating that something more than fees is the problem. Ironically, no one seems to pin it on the influx of thirtysomething fund managers hired as part of the industry's explosive growth. "In a bull market like this, youth is an asset," argues Michael Lipper, president of Lipper Analytical. The young have no recollection of, and thus no fear of, a declining market. That translates into being fully invested and having got the most out of stocks during this exceptional rally...
...students say an exhaustive knowledge of the surroundings is not always an asset...
...Malaysia, where Nicholson arrived in 1992, he was what the CIA calls a declared asset, meaning the U.S. informed the Malaysian government, though no one else, that he was a spy. In the expatriate community, he made little impression except as a genial neighbor and a leader of the Eagle Scout troop that included son Jeremiah. During Nicholson's two years in Kuala Lumpur, one of the main jobs for American intelligence agents was tracking leads in the terrorist bombing of the World Trade Center in New York City. The suspected mastermind of the bombing, Ramzi Yousef, had passed through...
...prices are governed purely by supply and demand, so they frequently trade above or below the underlying value of the stocks in the portfolios. Today the average country fund trades at a discount of 15%. Now, that's a bargain. Not since 1990 has the average discount to net asset value on country funds been so large, a reflection of investors' strong preference for U.S. stocks at the moment. But "if you can find a country you like, and a fund at a deep discount, you've got an enticing package," says analyst Donald Cassidy at Lipper Analytical Services...