Word: contract
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First, you'll need money. How much? Let's say you want to trade one contract of crude oil on the New York Mercantile Exchange (NYMEX). Since you're not a member of the exchange, and no one will really trust your new oil venture, you're going to need to start with at least $10,000 in your margin account (similar to a brokerage account, but it lets you leverage your bets to the hilt) as collateral to comfortably trade one contract. That might sound like a lot for just one contract, but a single contract on NYMEX represents...
...time to trade. So where do you start? With a clear idea of what you're trading: you're not trading oil. You're trading a contract obligating you to buy or sell it at a specified delivery date in the future. But don't worry: as long as the number of contracts you buy equals the number of contracts you sell, you won't have to worry about the physical barrels...
...indoor/outdoor Italian boîte as sleek as the museum itself. Designed by local architect Dirk Denison, Terzo Piano begins with a presentation kitchen at the entrance showcasing cheese, meats and salads. Further on, a clutch of 11 custom-designed mobile panels helps create individual dining zones that can contract and expand according to crowd levels. Smaller tables, accented by original George Nelson swag-leg chairs, have been rendered from resin and glow from within via abundant natural light. Outside, the designer name-dropping continues unabated via Bertoia chairs and Durat tabletops crafted from recycled plastic. It's all capped...
...whopping $2.4 billion write-down linked to construction troubles with its Finland reactor. The Finnish project was supposed to showcase Areva's third-generation earthquake- and missile-proof design, known as a European Pressurized Reactor (EPR). Areva beat out Westinghouse and General Electric-Hitachi in 2003 to win a contract with Finland's main utility Teollisuuden Voima Oyj (TVO) to build the plant. GE-Hitachi, Mitsubishi and Westinghouse all sell their own third-generation reactors, which are more efficient and safer than previous designs. But Areva's EPR boasts innovations that led the U.S.-based Union of Concerned Scientists...
...however, both the President and his backers and foes are sailing in uncharted waters. The rupture in the regime - and in its constitutional contract with the Iranian people, which allows them to democratically choose their President, even if from a limited palate of options - that occurred after June 12 has not been healed. In his second term, Ahmadinejad will have to navigate both the ongoing socioeconomic crisis in Iran, and the international battle of wills over its nuclear program, from a position of diminished political authority and legitimacy. And his domestic political opponents are showing no sign of easing...