Word: lessons
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Even as the carnage at Lehman Brothers left thousands of employees stranded, the next generation of Wall Street hopefuls began filing back to class this month at business schools across the country. The storied banking giant's demise was an illustrative lesson for the industry and for academics - one that may lead to lasting changes in business-school curriculums. "I predict that people will spend a lot more time than they used to learning about risk management and understanding the subtleties," says Awi Federgruen, chair of the Decision, Risk and Operations Division at Columbia Business School...
...firm to Bank of America in an all-stock transaction worth about $29 per share for Merrill shareholders - which means Temasek could walk away with about a 20% return should it sell it shares. The Temasek deal last December, banking sources say, taught everyone in the region a lesson: If you're talking to Wall Street, drive as hard a bargain as you possibly can - or walk. They need you much more than you need them...
...Sept. 15, the Dow fell 504 points. Pretty drastic. The next day it gained 142 points. The lesson: these are volatile days and weeks, and timing the market is a crapshoot, even for the pros. The ability of ordinary investors to move in and out of investments at the right moment tends to be pretty bad anyway. A longitudinal study by the research firm Dalbar shows that as mutual-fund investors increase the length of time they hold their funds, they do better relative to stock and bond indexes. "Our emotions are backward-looking, but the market is always about...
Georgiana, Duchess of Devonshire (Keira Knightley), was an 18th century scandal magnet for having both a swine and a swain--an icy, cheating husband (Ralph Fiennes) and a Whig politician lover (Dominic Cooper). This middling drama is less a history lesson than a tour of sumptuous real estate. The loveliest acreage is Knightley's alabaster back...
...path of the storm. This domestic anxiety may, in part, be attributed to the remaining fears about our own disaster relief preparedness. The United States’ near avoidance of disaster with Hurricanes Gustav and Ike has renewed speculation into a lingering question: has the government learned its lesson from Hurricane Katrina? Although New Orleans was largely spared during this bout of severe weather, snafus from both storms indicate that the Federal Emergency Management Agency (FEMA) still has no broad, comprehensive flood management plan, and lacks the ability to coordinate effectively with state and local officials. Chairman of FEMA, Michael...