Word: broker
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Dates: during 1990-1999
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Investors clearly think the game is over, rewarding pure-play e-tailers with market capitalizations that dwarf their off-line competitors--Amazon's $32 billion, vs. Sears' and K Mart's combined $17 billion; eToys' $4.5 billion, vs. Toys "R" Us' $3.6 billion; and, even more amazing, airline-ticket broker Priceline.com's $8.3 billion, vs. the combined $8.6 billion market cap of Continental Airlines, US Airways and United Airlines...
When Dana Giacchetto was flying high, they called him the rock-'n'-roll broker. His client list was more Melrose Avenue than Wall Street: Leonardo DiCaprio, Cameron Diaz, Matt Damon, Michael Ovitz. For the club-hopping Giacchetto, the line between client and buddy was as thin as a supermodel. He put DiCaprio up in his SoHo loft and vacationed with Courtney Cox's family. He had a knack for wrapping himself in buzz. In a New York Times profile of Ovitz last May, Giacchetto dropped names the way most brokers drop bad stocks. "Get me Michael!" he reportedly shouted...
Typically, this kind of rapid-fire turnover is unrewarding because of transaction costs and taxes. But sometimes it is worth sharing a 130-point one-week gain with the broker and the taxman...
...make money," he said in Spanish. "I'm not studying the way I want. I want to work less and study more." To supplement his income he invests in the stock market. "I've been investing for the last twelve years. Right now I have Internet access and a broker." His current hot pick? AI solutions, a company that provides human resources. "Last year was very bad, because of the markets in Asia," he explained. "This year, I'm not sure. The governmentis threatening to raise interest rates, which would hurt'things. They donit want the market...
...golf sweater, "Masa" Son is the unlikely man who would be emperor of the Internet. He has a 300-year--yes, that's 300-year--plan to invest in so many companies on the Web that no matter what country you're in, whether you're looking for a broker or a bouquet of flowers, a car or a doctor, you'll have to enter his realm...