Word: investments
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Dates: during 1990-1999
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Last week porn star Marylin Star was charged with soliciting insider trading secrets from her "friend" James McDermott, the now former chairman of Keefe, Bruyette & Woods, an investment bank. She made $88,000 investing in companies his firm was about to help merge, and tipped off a buddy, who scored $86,000. I had been missing out on this stock-market craze for too long, and I needed to do something about it. Since no venture capitalists seemed as if they were going to invest in my Jeff Foxworthy tribute site idea, I figured I needed a new plan...
...time he was back in Mainz in 1448, Gutenberg had ironed out enough of these problems to persuade Johann Fust, a goldsmith and lawyer, to invest heavily in his new printing shop. Exactly what happened behind Gutenberg's closed doors during the next few years remains unknown. But in 1455 visitors to the Frankfurt Trade Fair reported having seen sections of a Latin Bible with two columns of 42 lines each printed--printed--on each page. The completed book appeared about a year later; it did not bear its printer's name, but it eventually became known as the Gutenberg...
...success; he gave himself a 30% chance. "That's actually a very liberating expectation, expecting to fail," he says. That's exactly what he told his first investors--family and friends: "I think there's a 70% chance you're going to lose all your money, so don't invest unless you can afford to lose...
...Jeff, after all, and his parents trusted him and believed in him every moment of his life. In the end, "we talked about it for two minutes," says Jackie Bezos. They ponied up $300,000, a huge chunk of the money they had saved for retirement. "We didn't invest in Amazon," says his mother, "we invested in Jeff." The ROJ--return on Jeff--was substantial. Today, as 6% owners of the company, they're billionaires...
...overall economic growth had less impact on Harvard's gains because HMC was limited in the amount of the endowment it could invest in venture capital...