Word: funds
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Dates: during 1990-1999
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...collective security that have prevented another world conflagration. The whole system of international cooperation stems from his commitment. It was President Roosevelt, after all, who conceived and named the United Nations, and he was one of the visionaries behind the establishment of the World Bank and the International Monetary Fund. In one of his last messages to Congress, he said their creation "spelled the difference between a world caught again in the maelstrom of panic and economic warfare, or a world in which nations strive for a better life through mutual trust, cooperation and assistance...
...high-flying Giacchetto has crash-landed. His glitziest investors--Matt, Cameron, Leo--have abandoned him. A high-profile venture-capital investment fund he helped set up with a subsidiary of the Chase Manhattan Bank to attract celebrity dollars has disintegrated. And the once worshipful buzz has suddenly turned ugly. In Hollywood, a town built on tales of golden boys brought down, the wags are debating the reasons for his steep descent...
...Giacchetto's real undoing may have been the ill-fated alliance he made last fall with Jeffrey Sachs, a principal of the Chase Capital Entertainment Partners investment fund. Cassandra-Chase looked perfect on paper: Chase brought the structure to do private equity investment, and Giacchetto brought his high-wattage clients. But friction developed fast. Among the sore points, Cassandra-Chase's investment in Digital Entertainment Network, an Internet start-up whose chairman resigned after the out-of-court settlement of a suit that alleged he had molested a 13-year...
Cramer is a hedge-fund manager and writes for thestreet.com This column should not be construed as advice to buy or sell stocks. His fund currently has positions in Microsoft, Yahoo, JDS Uniphase, Intel and Sycamore
VENTURE OUT Sick of reading about venture capitalists making a mint by investing in dotcoms before they go public? Well, thanks to a newfangled mutual fund announced last week, you can plant seed capital. To be eligible for the fund, which VC Draper Fisher Jurvetson will roll out next year with meVC.com investors must earn $50,000, have $50,000 in the bank and plunk down at least $5,000. Just remember: most venture-capital bets are losers. Yours could...