Word: investor
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Dates: during 1990-1999
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...having sold every seat for every game in a popular new stadium for three years running. They're in first place in the American League's Central Division this year and have become mainstays in post-season play. Cashing in on that success, the club's controlling shareholder, Cleveland investor Richard E. Jacobs, sold 4 million shares at $15 each to raise $60 million. One hopes his many new partners are rabid baseball fans with no economic need for the stock actually to rise. Because...
Imagine that you run a mutual fund where the only investors are 98 rich people (minimum net worth: $5 million). You get paid a percentage of the gains and make nothing if the fund loses money. The risks are large, but if you're good, so are the rewards. You've just imagined my job. I'm a hedge-fund manager, a term that conjures up swashbuckling billionaires like George Soros, whose trades can drive down entire foreign economies. I'm a much smaller fish: my partner and I manage about $360 million, investing almost...
...Russia and Asia, think of this week as a second chance to prepare for more pain, possibly something much worse. Even the mutual-fund industry, arguably the biggest beneficiary of perpetual bullishness, is preaching caution. At the industry's recent annual conference, which I attended, the theme was "building investor knowledge." The effort smacks of self-interest; the subtitle might well have been "how fund companies can avoid blame when the bubble bursts." But the basic message--that the market cannot keep going straight up--is a good one. Any stocks or stock funds that you can't hold through...
...Since antitrust first surfaced as an issue for Microsoft in 1990, the stock has fallen 10% or more 21 times, according to researchers Birinyi Associates. The average dip was 17% and lasted slightly more than a month. The average recovery was 47% the ensuing four months. On average, an investor who bought at the worst moment (the day before one of those declines) got even in six months--and has shared in Microsoft's glory ever since. The stock has doubled three times in the past four years. Microsoft is now in the midst of a 14% pullback that began...
...Japan: Moody's Investor Service, whose job it is to tell you which banks your money is safe in, downgraded five key Japanese banks, and is looking at four more. Result: The Japanese yen continues to fall -- and the Japanese economy continues to atrophy...