Word: marginals
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Dates: during 1980-1989
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...month or less. Thus the Chicago Merc is used primarily by brokerage firms and speculators seeking quick profits, and by money managers who want to hedge their portfolios against losses in the stock market. The rules of the two games are wildly disparate. In the stock market, the margin requirement -- the percentage of down payment that an investor must make to buy shares on credit -- is 50%. In Chicago, investors can buy into the futures market with as little as 12% of the value of the contract purchased...
...tried it on Black Monday, the technique has fallen into disrepute and relative disuse. But profitable index arbitrage is still popular and may have been responsible for a big part of last Friday's plunge. The Brady report suggested that such volatility might be curbed if the 12% margin needed for buying a stock-index future were brought more into line with the 50% required for stocks. That might dampen speculation at the Chicago Merc. Critics of this idea, however, point out that the big institutions that play the index arbitrage game generally pay cash for their contracts...
...those who went to the polls voted in favor of both issues on last week's referendum, both were defeated. Only 44% of Poland's 26 million eligible voters responded affirmatively to a question on economic reform, and 46% okayed a related query on "democratization" in Poland. The decisive margin belonged to the one-third of eligible voters who chose not to participate, many to defy the regime...
...which maintains 40,000 troops in South Korea and regards the country as a crucial buffer against North Korea and the Soviet Union, is an impartial but uneasy spectator. To the Reagan Administration, the question is less who wins than the size of the victory margin. "We can work with anyone," says a State Department official. He fears, though, that a razor- thin win by any of the candidates would leave the new President without a clear mandate and lead to renewed instability...
Both games were low-scoring struggles. In the March ECAC semifinals the Crimson held New Hampshire to four goals, and managed to put one puck past the Wildcat goalie. In regular-season action, Harvard tallied twice against UNH, losing by a respectable 4-2 margin...