Word: exoticisms
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Taste is a disappearing commodity. Today a Russian oligarch or a Park Avenue hedge-fund manager might still have the bucks to buy Saint Laurent's Matisse, but the real investment is in something far scarcer: Saint Laurent's eye, his love of beauty and mannerisms and the exotic dream...
Trading on Zimbabwe's volatile stock market made Wall Street's dubious derivatives look like Treasury bills. With an economy locked out of the global financial system, daring foreign hedge funds and institutional investors saw this obscure market - much like emerging investment funds in wine and fine art - as an...
Why lower the principal of the mortgages instead of reducing the interest rates of the loans? Because it creates far more incentive for homeowners to continue making mortgage payments. Moreover, with all the exotic loans out there, many with adjustable rates, the principal is the only standard across all mortgages...
The Afghan government seems largely unwilling to curtail the power of the warlords, whose wealth and influence have only increased in the new Afghanistan. These days, Dostum strides across the marble-inlay floors of his new mansion--a pink, three-tiered wedding cake of a house. The foyer boasts a...
The role of unifier and diplomatist for all of Africa might not seem naturally suited to Gaddafi, but his persona will ensure that his efforts receive plenty of publicity. In his 40 years of dictatorial rule, Gaddafi has reinvented his identity as a leader almost as many times as he...