Word: investors
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Dates: during 1990-1999
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Virginia lottery officials suspect that an Australian investor group, which regularly places huge sums of money in foreign lotteries, was behind the mass purchase. The group apparently located Virginia lottery outlets that were willing to churn out mass quantities of tickets in order to reap huge sales commissions...
...network -- NBC seems tantalizingly vulnerable -- and remake it in his own image, with spikier programming, homemade stars and a skeletal news staff; he could even sell the network's local stations. "Whatever happens," says David Geffen, the movie- and-music magnate who has been mentioned as a potential Diller investor, "he won't rest for long. He loves a challenge. He's not afraid. He's got elephant balls...
PERFECT, THAT IS, only for those interested in keeping baseball in Seattle. Despite lip service to the contrary, local ownership has never been a priority for Major League baseball, as was demonstrated again in the flap created by Minoru Arakawa's nationality. He and the potential investor--Nintendo, owned by his father-in-law--are Japanese...
This doesn't mean that investors should rush to put their nest eggs into Zimbabwean stocks. The risk to a hard-currency investor of losing on conversion what has been won in local currency is only one of the hazards. All markets fluctuate, but small exotic markets, often thin and subject to political instability, are apt to fluctuate more. Nonetheless, sophisticated investors and their brokers cannot ignore the opportunities provided by the extraordinary diversity of market performance. Nowadays there is always money to be made somewhere in the world...
Picking individual stocks in faraway places is not for the fainthearted, but with exotic stocks packaged in funds, an investor undeterred by transaction costs can even daydream of multiplying his gains by surfing around the world, taking a short, profitable ride on each cresting wave. All he needs is a globe, a pin and some strong hunches. In the '90s even distant neighbors have no trouble keeping up with the Dow Joneses...