Word: betting
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...West Side, but Bloomberg is pushing hard for one anyway. In his mind, the stadium, which will double as a massive convention center and could also be the center of the 2012 Summer Olympics, for which New York is making a bid, is the kind of long-term economic bet that great cities, like great companies, have to make. "It is investing for the future," Bloomberg declares, sounding suspiciously like a politician, before adding a key, most impolitic warning, "with no guaranteed return...
...convalescing Ronald Reagan, dutifully passed out the standard presidential cuff links. Back on Capitol Hill, Kennedy showed the gift to some of his Democratic colleagues with a wry boast: "I can help you get some of these." The Republican stalwart, Barry Goldwater, caught the irony. "I'll bet," he kidded, "they have line-item veto written on the back...
Until last year, Keillor wrote almost the entire show, parody songs, phony commercials and all. Now Writer Howard Mohr pitches in on the Raw Bits and the Minnesota Language Systems ads, which peddle cassettes that teach visitors to answer "You bet" for approval, and "That's different" for confusion or doubt, like real Minnesot'ns. But the wondrous, spooky monologues that carry the show are Keillor's. He works without a net. On Wednesday or Thursday he will have started to think seriously about the piece, and by Saturday, most weeks, he will have written out a fairly complete narrative...
...capita income is soaring 11% a year, and Indian corporations are more competitive than ever before. Yet this flood of hot--and often naive--foreign money into Indian stocks has me spooked. The Indian market has often proved a terrific place to lose money. If you had bet on the Sensex in, say, 1992, you would have been 30% poorer by 2003. But today there is an endless new supply of India-focused mutual and hedge funds, many with wonderfully alluring names like (my favorite) the Monsoon India Inflection Fund...
...most voguish are Indian mid-cap funds, which bet on riskier companies that may one day grow up to be blue chips. In November and December alone, the CNX mid-cap index jumped 28%. Returns like those make life worth living, but gravity has a way of bringing things back to earth. When I met him in Bombay, Nilesh Shah, head of equity strategy at Kotak Securities, seemed pleased but perplexed by the performance of his team's fledgling mid-cap fund, targeted at foreigners willing to pony up $100,000. Six months after its launch last August, he marveled...