Word: creditably
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...probably right. At $15, anyone can sell these sneakers. Give Marbury credit for being the first...
...succumbed was Hong Kong resident Chor-pat Wong, whose betting habit took him to Hong Kong's horse-racing tracks three times a week. By the time his wife left him in 2004, Wong had drained the couple's $25,000 savings and racked up $90,000 in credit-card debt. Homeless, the 55-year-old bus driver made plans to jump from his sister's ninth-floor apartment. She talked him out of it, and, after she stepped in to help him start over financially by declaring bankruptcy, he hasn't made a single wager. "If I gamble again...
...Then the subprime credit crisis hit, and suddenly some high-flying hedgies had their heads handed to them. Two Bear Stearns hedge funds worth a total of $1.5 billion collapsed due to their exposure to toxic subprime debt, a debacle that was preceded by the subprime-fueled demise of a hedge fund run by Swiss bank UBS. Basis Capital, an Australian firm with more than $2 billion in assets, was forced in August to liquidate its Basis Yield Alpha Fund, which had previously been one of Australia's best-rated hedge funds. Numerous quant funds, which use computerized analysis...
...Although financial-market stability appears to have returned, for a few weeks this summer an LTCM-like collapse seemed like a possibility as the credit crunch intensified. That's one reason why there's growing urgency to understand how these huge pools of private capital can disrupt markets. In the U.S., California lawmakers and regulators are pushing a proposal that would require larger hedge funds that have fewer than 15 clients to register and to open their records to state oversight. In Europe, the German government is spearheading an inquiry into the subprime crisis by the G7 group of industrialized...
...very low this year. “It’s just trying to rebuild our reputation with the campus,” Creamer said. “I think that we really do offer a great service and its bizarre that we’re not given enough credit and students seem to be less convinced...