Word: morganize
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...surprise. He launched an antitrust suit that demanded the breakup of Northern Securities, a holding company organized to consolidate three railroads in the Pacific Northwest. By targeting that company, Roosevelt had also chosen to move against the man who epitomized the empire of money, New York financier J. Pierpont Morgan...
Beefy, saturnine and phenomenally wealthy, with a plump red nose caused by the skin disease rhinophyma, Morgan held immense power over the U.S. economy. In a day when there was no Federal Reserve to control the money supply or tweak interest rates, he operated at times as the nation's one-man central bank. By withdrawing his approval from a shaky deal, he could cause a panic. By pouring millions into tottering banks, he could end one. He did more than assemble capital for new ventures. He took over mismanaged companies, installed his own men and supervised operations...
...India been? Foreign institutional investors poured $30 billion into the Indian market in three years--double the amount they had invested in the previous decade. Firms like JP Morgan and Fidelity raced to set up India-focused mutual funds. An Indian student at Harvard Business School told TIME that one of the U.S.'s best-known hedge funds had given him $5 million to invest in Indian stocks--never mind that he hadn't yet graduated. "The joke going around was that if you had an Indian girlfriend when you were at college in Boston," says Manish Chokhani, director...
India also has a younger population than any other major country. According to Ridham Desai, Morgan Stanley's head of Indian equities research, about 125 million Indians will join the workforce in the next decade, and they will be key to the country's growth. Foreign firms will hire legions of them to drive down costs, and their prosperity will fuel demand for stylish clothes, cars and other baubles. Thanks to this demographic advantage, "India will grow faster than the rest of the world," says Desai...
...question for investors is how richly to pay today for a stake in companies that will profit from these trends in the future. The Indian market trades at a 20% premium over other emerging markets, making it too pricey to jump into now, says Adrian Mowat, JP Morgan's chief Asian equities strategist. Jon Thorn, a portfolio manager at India Capital Fund, disagrees. "The long-term case for investing there is without question the best in the world. I'm going around to all my investors saying, Now is the time," Thorn says. "You need to buy when there...