Word: broker
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...will begin the task in Pristina. In particular, he is hoping he can get the Kosovo Liberation Army to cooperate with the U.N. That may be tough. K.L.A. insiders say Holbrooke's word doesn't mean as much as that of State Department spokesman James Rubin, who helped broker the deal that gave the K.L.A. a political boost. U.S. intelligence officials in Pristina are openly questioning the wisdom of cooperating with the K.L.A., which so far has delivered little more than revenge killings, rapes and headaches...
When buying on margin, an investor who wants, say, $5,000 of AOL shares need put up only 50% of his own money. The rest ($2,500) is borrowed from a broker. It's a tantalizing deal. If AOL's stock moves up, you make twice as much profit as if you had paid all cash. If the stock dives, though, that leverage works in reverse. But few investors seem to focus on the downside...
...dread words "margin call." It means you've lost so much money on the stock you bought with borrowed funds that you have to dig into your own pocket to meet the margin requirement or dump stocks you already own to raise the money. If you don't, the broker can sell your securities--and will he ever!--without notifying you. Given the historic level of margin debt out there, a wave of forced selling could lead to a violent downdraft in prices and possibly end the nine-year economic expansion...
...Senate race against Hillary Clinton, Rove made it known through intermediaries that Governor Bush wanted Pataki to patch things up. The reason: an easy ride for Hillary would hurt Bush's chances of being competitive in New York against the Democratic presidential nominee. (Rove claims he did not broker the peace between Pataki and Giuliani, but two other sources close to the negotiations say Rove got the ball rolling...
Both trends are new. For as long as there have been stocks, we've been taught that you need a professional broker to help figure out your finances. But the Web has brought monumental changes to investing. Individuals can trade for the same low costs as institutions and can get plenty of timely information. The Web has empowered many people to take over the reins of their portfolios...