Word: fund
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Dates: during 1990-1999
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...received support from a variety of sources, including Cambridge music clubs like the Middle East, T.T. the bear's and the Lizard Lounge, as well as private grants. The organization raised enough to fund its $50,000 budget for the year...
...about both men's no-tech dogma since last spring. That's when Buffett told thousands at Berkshire Hathaway's annual meeting cum Buffettfest that he won't buy tech stocks because he doesn't know how to value them, and Lynch glibly confessed to thousands more at a fund-industry conference that he doesn't know how to turn on a computer. Lynch's point, as ever a good one, was that you shouldn't own what you don't understand--most things tech, in his case...
Technology isn't weird science; it's everyday life. It's e-mail. It's the government wanting to bust up Microsoft, Y2K threatening the globe, the Internet challenging the mall. Ignore it? O.K. But then forget about beating the market, and go buy an index fund. Really. You'd get a market weighting in tech stocks (24% of the S&P 500) along with low expenses and tax-efficient management. That's a great deal...
Wait, though. That's only the beginning. Estimates are that with no change in current policy Washington over the next 10 years will collect a mind-boggling $2.9 trillion more than it spends--$1.9 trillion in the Social Security trust fund, and $1 trillion as an excess of tax collections over spending for everything else the Feds do. The $1 trillion overage is the size of the entire federal budget in 1987 and, paradoxically, creates a problem for politicians that they have never faced before: How best to channel that torrent of cash...
...WESTERN STUDENTS A Colorado billionaire is leaving most of his fortune to fund college scholarships for poor kids in Colorado, New Mexico, Wyoming and Utah. The Bill Daniels Fund, named after the cable TV mogul, will receive most of his $1.1 billion estate and will become Colorado's largest charity upon his death...