Word: junks
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Dates: during 1990-1999
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...worth tied up in stocks, to pros whose sophisticated strategies for dealing with risk have come unglued. The trend is very good for safe havens like T-bonds (zeros or plain old bonds) or even tax-free municipal bonds, which now offer enticing yields. It means that relative to junk and high-grade corporate bonds, emerging- market stocks and bonds, and even U.S. stocks, T-bonds will attract more money. Their yields must be driven so low that riskier assets finally look preferable again. And that could be low indeed, given the bloodletting under way on Wall Street...
...junk bonds; this time it's derivatives. Buying a derivative is taking a bet -- called an option -- on the price of a stock at some future point. The plutonium of the financial world, derivatives are complex financial instruments that, in steady economic times, can churn out megatons of money for investors. Bet badly, though, and you get a meltdown. When Long-Term Capital Management, a high-risk, high-rolling hedge fund based on the formulas of two derivatives Nobelists, went belly-up last month, Greenspan realized that the damage wasn't restricted to the brandy-and-cigars crowd. Banks...
After all the winners had been announced, thefour Nobel laureates auctioned off personal itemssuch as chewed bubble gum, supermarket shoppinglists and junk mail. Glashow's cigar butts fetchedthe highest...
Scott does almost all her collecting these days on an auction site called eBay. A sort of digital swap meet, the service allows users to sell and bid for antiques and junk of all kinds--old milk bottles, vintage postcards--even U.S. Grant memorabilia. "I've tripled my collection in two years," says Scott, who has amassed nearly 8,000 items, including a $4,500 signed letter and a $20 embossed pillowcase...
Tired of digging through junk mail to get to your bills? Net surfers will soon be able to enjoy electronic bill presentment, which "sends" digital copies of bills to websites for easy payment. Users of Quicken or Money, and customers at banks like Wells Fargo or Citibank (which just invested in Microsoft's online-billing venture) can get billed by utilities and telephone companies without any paper cuts...