Word: junks
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...older sister, Kelsey, is now an alumna, and her time here has affected my current experience in a number of ways. For one thing, I live in the same house she did, and even have the same Harvard mailing address. As a result I keep getting junk mail that is addressed to her, and I think my friends are starting to get creeped out when I keep pulling Ann Taylor and Victoria’s Secret catalogues out of my mailbox...
...little attention to what could go wrong. Prices of almost all financial assets were high by historical standards, and especially risky assets were especially high priced. That is, emerging-market stocks were expensive relative to U.S. stocks, small-company stocks were expensive relative to big-company stocks, speculative junk bonds were expensive relative to Treasury bonds ... you get the picture...
...lots of people had warned was overpriced-fell 8.8%. Stock prices began dropping in Europe, then in the U.S. There was a perfectly rational pattern to the way prices tumbled: emerging-market stock prices fell more than those in developing countries. Small stocks lost more value than big stocks. Junk-bond prices fell while Treasury bonds rose. But why then...
...little attention to what could go wrong. Prices of almost all financial assets were high by historical standards, and especially risky assets were especially high priced. That is, emerging-market stocks were expensive relative to U.S. stocks, small-company stocks were expensive relative to big-company stocks, speculative junk bonds were expensive relative to Treasury bonds ... you get the picture...
There was a perfectly rational pattern to the way prices tumbled: emerging-market stock prices fell more than those in developing countries. Small stocks lost more value than big stocks. Junk-bond prices fell while Treasury bonds rose. But why then...