Word: bolsa
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Dates: during 1990-1999
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Behind the dramatic renovation is a major new force in Argentine real estate: Inversiones y Representaciones S.A., better known as IRSA, a company that has made its mark on the financial markets in the past six years. IRSA's shares trade on the Buenos Aires bolsa, but they are also listed as the only Argentine real estate play on the New York Stock Exchange. IRSA's American connection is gold plated: much of the firm's capital comes from U.S. hedge-fund billionaire and philanthropist George Soros. IRSA's president and CEO, Eduardo Elsztain, 37, met Soros...
...seen a lot of market drops, but he can recall only one case in which the prices bottomed out in the first week. That was in the U.S. -- after Black Monday, Oct. 19, 1987. The dean of foreign investing wouldn't be surprised if the Mexican Bolsa heads lower before it heads higher...
...lessons already. The first is that emerging markets are particularly jumpy, with 200% gains one year and 60% drops the next -- as we've seen, for instance, with Turkey. And the drops get far more attention than the gains. Who remembers that the recent 30% fall in the Mexican Bolsa was preceded by a 70% rise in the NAFTA year...
Many have found success and prosperity in their new home. A decade ago, a 1 1/2-mile strip of Bolsa Avenue between Garden Grove and Westminster in Orange County, Calif., was a ragged quilt of vacant lots and small stores, bean fields and discount emporiums. Today the stretch is as alive as payday in a port city -- specifically, Saigon. Between 20,000 and 50,000 Vietnamese flock each weekend to 800 shops and restaurants, buying herbal medicine and dining out on snail-tomato-rice-noodle soup. In the mornings people may attend Buddhist ceremonies in makeshift temples; in the evenings they...
More than 80,000 refugees have made the area, known locally as Little Saigon, the center of one of the largest Vietnamese enclaves outside Indochina. Says Frank Jao, the Vietnamese-American developer of Bolsa Avenue: "The Chinese, the Japanese, the Italians and the Jews grouped together when they came to the U.S. There seemed to be no reason why the Vietnamese wouldn't follow the same tradition...