Word: indexation
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Dates: during 2000-2009
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...millionaire, Sanford is known for frugality. Former employees said he required them to use both sides of index cards and Post-it notes. In Congress, he slept on a futon in his office...
Upon that basis, economists and finance scholars cleared the way in the 1970s for a new approach to investing and risk management that included index funds, risk-weighted portfolio allocation and mathematical models to price options and other derivatives. A lot of this was, as with Fisher's economics, useful. But a basic assumption underlying much of it--that prices were reliable reflections of economic reality--was problematic...
...when a book editor suggested Bernstein write a memoir, he countered with an ambitious proposal for an intellectual history. The result was Capital Ideas: The Improbable Origins of Modern Wall Street, an improbably charming tale of index funds, mathematical options-pricing models and new theories of corporate finance. It was a success, and Bernstein followed it in 1996 with a big best seller, Against the Gods: The Remarkable Story of Risk...
...criticism that they were tweaking pollution data to artificially raise the number of so-called "blue sky" days when emissions fall below official targets. American environmental consultant Steven Q. Andrews accused the government of switching to monitoring stations in lower pollution areas, changing the makeup of the air pollution index to focus on less prevalent pollutants, and reporting a disproportionately large number of days with pollution measurements just below the "blue sky" cutoff. Du Shaozhong, the deputy head of the Beijing Environmental Protection Bureau, denied the allegations. In a recent paper, Andrews reported on similar "blue sky" biases in several...
...better gamed, is still unclear. The city's hot, humid summers and occasional sandstorms mean that air quality can turn bad with surprising speed. Without real-time reporting, the official data are more a matter of historical interest. This afternoon the Ministry of Environmental Protection reported the air pollution index for the 24 hours ending at noon on Friday was 159, or "slightly polluted." That's still pretty bad. But had you gone outside you might have thought things were much worse...