Word: faithful
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Dates: during 1990-1999
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Those close to Steve Forbes know only this about his spiritual life: he's an Episcopalian and attends St. John on the Mountain in Bernardsville, N.J. Perhaps you'd be circumspect about your faith too if your father had made you wear a kilt to Sunday services as a kid. "He hadn't given an awful lot of thought to these kinds of issues until he started running for President last year," says Forbes supporter Gordon Humphrey. Nor had Forbes spent much time communing with the more demonstrative branches of Protestantism. "As an Episcopalian, he never rubbed shoulders too much...
...just need to keep the faith with your fellow believers: the stock-obsessed masses in mutual funds and investment clubs, trading online and standing in line a dozen deep at the corner Fidelity or Schwab office. Only 10 years since the most devastating one-day plunge in history, Americans are married to the market in confounding degrees. They have the trust of a newlywed that stocks will be a lifetime mate. The average person has more invested in the market than in the house that shelters him. Stocks account for more than 40% of the average household's financial assets...
...biggest risk is the one that has trampled investors so often in the past. With a big market drop, the equity culture--the faith--just dies out as investors see other assets start to zoom higher, as gold and real estate did in the '70s. They shift to those asset classes and end up missing huge initial gains when stocks eventually, inevitably, bounce back. That kind of behavior destroys any argument for the public's easily attaining the long-term average annual returns that stocks offer...
Though the story requires one or two leaps of faith along the way, its orchestration is undeniably remarkable. Nicholson begins, cloudily, in medias res, and labors throughout the middle of the novel to thread his scenes together. He presents his readers with a scene and then, subtly, shows how it came to be. The early appearance of Stuart's diary, for example, is explained by a later scene wherein his wife snoops through his desk and alights on a computer disk. His non-linear development echoes the innovation of the cubist painters as it fragments, abstracts and reconfigures the narrative...
...uncommonly wise with a gift for lawmaking and an impeccable moral vision. His legislation is both moral and politic, popular and wise. Of course, the picture isn't completely rosy. Sometimes the people do not understand the message or the messenger. The people of Israel lose faith in Moses; the ten commandments are shattered at the foot of Sinai...