Word: misreadings
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...combined. And we're at it again. Since Oct. 31, the S&P 500 is up 5.2%, the Dow 5.2%, the NASDAQ composite a heady 19%. Yet many investors are sitting on the sidelines, waiting out the Y2K fiasco. (You know, mayhem that would make Moses proud when computers misread 00 as 1900 on Jan. 1.) Yes, stock prices could unravel if Y2Khaos really occurs, or if anything else for that matter ignites a panic. Can you say higher interest rates? But serious jitters seem a long shot. The market has already stood firm against three interest-rate hikes...
...excellent and provocative study of Joe Tsien and his colleagues will, one may safely predict, be widely misread in the false light of this age-old hope--combined with some equally age-old fallacies of human reasoning...
...statement to TIME, Freeport argues that its stock is "significantly undervalued," in part because Wall Street has misread Indonesia's political mood. Freeport notes it will reduce debt $200 million in 1999, and has received permission to boost ore production at Grasberg from 220,000 tons a day to 300,000 tons in exchange for doubling its royalty payments to the government...
...that Freeport has misread Indonesia's political mood. If the reform-minded parties capture the majority of votes, as looks likely, and the military does not intervene, which seems plausible, popular resentment over the company's connections with Suharto might encourage the new government to re-evaluate even the revised contracts, or to further jack up royalty payments, just as copper prices seem to be turning up. That in turn could erode the firm's low-cost structure. Even worse, Jim-Bob Moffett's old friends in high places would no longer be there to help...
...Senate Republican leaders finally realized they had handed the Democrats a choice issue," says TIME White House correspondent Jay Branegan. "They opted to play their base but they misread the current public mood." Ever since the Littleton massacre, the NRA and its allies in Congress have known that more gun control legislation was headed their way. The issue was how to deflect the effort without looking insensitive. "Republicans thought they could get some cover with their voluntary proposal," says TIME congressional correspondent John Dickerson, "but it didn?t work." A big question now, says Dickerson, "is whether they will have...