Word: magellans
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Dates: during 1980-1989
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...become a cliche that the Indians would have made out like bandits if they had merely invested the $24 they got at 8% (let alone in Fidelity's Magellan mutual fund). They'd have had $32 trillion by now. But the point is, they didn't take cash and invest it, they took trinkets. Today we're taking Nintendo games and Honda Preludes...
...panic-prone. That is not the mood this time around -- at least, not yet -- and markets rarely hit their peak until all types of stocks are overbought, professionals become exuberant, and even small investors are snapping up stocks with abandon. Peter Lynch, manager of Fidelity's $11.5 billion Magellan mutual fund, recalls that "in the summer of 1987, torrents of cash were coming at us out of money-market funds." There is only a dribble this year...
...next liftoff should come in April, when the shuttle Atlantis is scheduled to send a craft called Magellan on its way to Venus. The space probe will begin orbiting the planet next year, using radar to map its cloud-hidden surface. The best maps now in existence, compiled by Soviet spacecraft, show features as small as a quarter-mile across, but Magellan is expected to do about ten times as well...
...space agency has learned not to raise hopes too high. Galileo, Magellan and the Hubble telescope were scheduled to be launched in 1986, which NASA had confidently proclaimed to be the Year of Space Science. That "year" ended in flames on Jan. 28 with the death of Challenger...
...shuttle. Its high-resolution "keyhole" photo-reconnaissance satellite, which will be used in part to monitor Soviet compliance with nuclear-arms-reduction treaties, will be aboard the next shuttle. Scientists too have been granted accommodations -- aboard the Atlantis in April 1989, the next opportunity to launch the Magellan mission, and the following October for the Galileo probe. The Hubble telescope may finally get off the ground in February 1990, and Ulysses in October of that year...