Word: investors
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Dates: during 1990-1999
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Outside of the temples of high finance, Soros was almost unknown until the early 1990s. On Wall Street he is judged the greatest hedge-fund investor of our time. With characteristic candor, he says he "carved myself a place on Mount Rushmore as a money manager." An investment of $100,000 with Soros in 1969 would be worth $300 million today...
...terminals, manned by frantic traders looking for profits in the interstices of monetary flows. His best-known division, the Quantum Fund, is a so-called hedge fund that invests for rich clients. (See box.) The company itself has $18 billion in assets under management. It is also a vulture investor, taking positions in distressed companies in anticipation of a turnaround, and it is a part owner of businesses ranging from food companies to airlines. Soros has not actively managed the funds in years. That responsibility falls to Stanley Druckenmiller, who by most accounts has done brilliantly...
...opening was created in 1994 when Treasury concluded in a little-known ruling, unrelated to the travel industry, that an American company can invest in a foreign firm that has business in Cuba--as long as the U.S. investor is a minority holder and the foreign company doesn't earn most of its money in Cuba...
...just follow the bouncing ball. Price is an activist investor who has made millions buying large chunks of companies and then fomenting change to boost the stock price. He forced the merger of Chase and Chemical banks in 1995. He is currently engaged in a public battle with Dow Jones & Co. as well as ITT. And, oh, yes, little more than a year ago, Price, a 21% owner of Sunbeam, got Dunlap hired as CEO. The pay was right: Dunlap got 2.5 million stock options that, if all could be exercised today, would bring him $70 million. So when Dunlap...
...reluctant to say anything about contingency planning out of concern that it would be misinterpreted as a statement on the market--something they want no part of. Early last week Rubin was asked if he believed stock prices were too high. "Those are the kind of judgments each investor has to make for himself," he demurred...