Word: investors
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Dates: during 1990-1999
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...Mahathir's plan, of course, baldly flouts all the IMF's ?- and nearly everyone else?s -- current wisdom on saving Asia. According to their formula, a package of stopgap loans and high internal interest rates can protect the currency and attract foreign capital in the short term by restoring investor confidence. Follow that with swift and painful economic reforms, and recovery should be imminent. But for Mahathir, flipping the Western economic establishment the bird is part of his plan?s allure. The West, Mahathir insists, fears a ascendant Asia, with its large Muslim populations and strong governments, and is gleefully...
...individual investor will never be king on Wall Street. But you've come a long way in the '90s, baby, and at least now you're living on the palace grounds. That's why institutional brokerages have been rushing to merge with retail houses, and mutual funds have been multiplying like rabbits. Everyone wants to serve the little guy, who these days may have $100,000 or more sitting in a 401(k) plan. Titans of finance haven't yet figured out how to sell you a fairly priced IPO, but there are enough of you out there to make...
...error occurred while processing this directive]Fortune Investor Data All in all, a poor performance from the markets closest to the eye of the storm. But it's a picnic compared to the continuing collapse in Asia. The Nikkei sank to a 12-year low. Hong Kong, which had seemed immune on Thursday, plummeted on news that it had joined Japan in the recession club. The former colony's economy shrank a whopping 5 percent in the second quarter, virtually wiping out all of 1997's gains in one go; officials had originally predicted 3.5 percent growth. "This is outside...
...error occurred while processing this directive]Fortune Investor Data Not to mention a return to the days of brinksmanship and bomb shelters. "Traders look at Russia, and they see Indonesia with nukes," says Baumohl. "The same failing economy, the same social unrest. But with Russia, there's that spectre that if the wrong people come to power, we've got the Cold War all over again." Baumohl looks at Viktor Chernomyrdin's return to the Kremlin as a "soft coup" -- but what comes next could be very, very hard...
...error occurred while processing this directive]Fortune Investor Data Although the exposure of U.S. investors to the Russian markets is minimal, the country's woes hit Europe hard, and that comes home to America. Not to mention the chilling prospect of the crisis toppling Yeltsin's government and bringing to power a host of ex-Communists with itchy trigger fingers. It's not yet time to vacuum out the ol' fallout shelter -- but if you're looking for some kind of refuge from this economic Chernobyl, Baumohl recommends bonds. "Foreign markets are getting hit hard, and foreign investors are going...