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...crowd won't touch them. "I don't buy prime merchandise," he says. "I buy stuff that's fraught with discomfort. I buy some terrible things." Yet these terrible things produce terrific returns. Wadhwaney's $1.26 billion mutual fund has racked up annualized gains of 22.5% since its birth three-and-a-half years ago?double the rise of a comparable index of non-U.S. stocks. (I've entrusted his firm, Third Avenue Management, with some of my own money for nearly a decade, though I don't own any of the stocks mentioned in this column.) At times...

Author: /time Magazine | Title: Hidden Assets | 5/23/2005 | See Source »

...Holy Eucharist. Much precious energy is wasted by women fighting to become a priest. They could, instead, use that same energy to do most of the things that a priest does. What is wrong with a few positions in the world belonging exclusively to one sex? Only women give birth to children. Surely that is at least equal to a priestly vocation...

Author: /time Magazine | Title: Letters: May 23, 2005 | 5/15/2005 | See Source »

What the study doesn't show, however--despite what some scientists claimed--is that sexual preference is biologically hardwired and thus present from birth. That idea is pretty much accepted by most gays and by many biologists as well. But it is refuted by those--generally on the religious right--who have a stake in believing that homosexuality is a personal choice rather than an inborn trait...

Author: /time Magazine | Title: Behavior: The Scent of a Man | 5/15/2005 | See Source »

...Festival in 1996, shifts almost imperceptibly between Western and Eastern sounds, from contrabassoon to erhu (as bridegroom and bride), in a sliding scale of culture. With Inguz (1996), named after a Viking rune symbolizing fertility, the clarinet threatens to soar at any moment into Gershwin-like rhapsody, but gives birth to something else - music as anthropology. For her 2000 opera Moon Spirit Feasting, the composer spent time in Malaysia observing the Hungry Ghost Festival, when Chinese communities entertain ancestral spirits with a month of street theater and song. In this sense, Lim's music is a votive offering...

Author: /time Magazine | Title: Off the Scale | 5/15/2005 | See Source »

...requirements would entail some heavy lifting by state authorities and "would be hard for the Federal Government to handle, let alone state governments," says David Quam of the National Governors Association, which opposes the bill. For example, if a driver applied for a license in Massachusetts with a Maryland birth certificate, Massachusetts DMV officials would need to check with Maryland to make sure the document was legit. "You're no longer going to get same-day service," predicts Cheye Calvo of the National Conference of State Legislatures...

Author: /time Magazine | Title: Revamping Your Driver's License | 5/9/2005 | See Source »

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