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Here's how they work: an etf share represents a basket of stocks or bonds typically pegged to a major index such as the S&P 500 or Morgan Stanley Capital International's benchmark foreign index, eafe (Europe, Asia, Far East). There are now 102 such ETFs in the U.S., including some that target specific industries and countries. They can be bought and sold through any broker and can be traded through...

Author: /time Magazine | Title: Buy the Basket | 9/2/2002 | See Source »

After a final push downward last October, most rates bounced back so quickly that many consumers couldn't seize the moment. Now rates are even lower than they were last autumn, and they may be headed lower still. Lehman Bros., Goldman Sachs and Deutsche Bank all predict that the benchmark short-term federal-funds target rate--at just 1.75%--will go to 1% by the end of the year as Fed Chairman "Sir" Alan Greenspan (soon to be knighted for his role in the global economy) dons armor against the double-dip recession dragon. A quarter-point cut could come...

Author: /time Magazine | Title: Can It Be Refi Time Again? | 8/19/2002 | See Source »

...After a final push downward last October, most rates bounced back so quickly that many consumers couldn't seize the moment. Now rates are even lower than they were last autumn, and they may be headed lower still. Lehman Bros., Goldman Sachs and Deutsche Bank all predict that the benchmark short-term federal-funds target rate - at just 1.75% - will go to 1% by the end of the year as Fed Chairman "Sir" Alan Greenspan (soon to be knighted for his role in the global economy) dons armor against the double-dip recession dragon. A quarter-point cut could come...

Author: /time Magazine | Title: Is it Time to Refinance Again? | 8/12/2002 | See Source »

...designated as Palestinian Authority-controlled territory. Despite a three-week lull in suicide bombings, there's little reason to believe Israel's reoccupation of West Bank cities will break the pattern of Israeli-Palestinian violence. Whatever Washington's own priorities, its interventions in the Israeli-Palestinian conflict remain the benchmark against which Arab public opinion measures U.S. bona fides. And under present circumstances, the regimes in Jordan and Saudi Arabia may be risking their own overthrow if they now backed a U.S. attack on Iraq...

Author: /time Magazine | Title: Why Bush Is in No Hurry on Iraq | 7/9/2002 | See Source »

...France, Poland, Sweden and Germany and is due shortly in Norway, Russia, Hungary and Lebanon. But Arthus-Bertrand's work is about much more than pretty pictures. The Parisbased photographer has assigned himself "the toughest project" - the open-ended task of recording the earth's environment as a benchmark for the future and accompanying his photos with words and statistics that place his images in a decidedly environmentalist context. "My job is to do a very strong picture that will give an emotional response," he says. "And the text is very, very important. My picture is nothing without...

Author: /time Magazine | Title: Earth's Album | 6/30/2002 | See Source »

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