Word: mutualization
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...this new burst of demand rapidly pushed up prices and attracted speculators, generating a frenzy in India similar to the ones that engulfed the U.S. and European markets. An Indian auction house, Osian's, even began marketing a sort of mutual fund for fine art. Artists, too, developed unrealistic expectations. "Everyone wants to be Damian Hirst overnight," says Mumbai gallery owner Jai Bhandarkar...
...BILLIONS: $639 Lehman Brothers $328 Washington Mutual $104 WorldCom $82 General Motors...
...hard-liners in Tehran, who oppose détente with the West, to get the three Iranians released. In that case, the U.S. should stand pat. So which way to jump? The U.S. has never been good at making sense of Tehran's knotty power structure, and the distrust is mutual: many in Iran suspect that the U.S. is looking for an excuse to attack their nation, as it did Iraq...
...hinge on what you mean by best and what you mean by long-run. The investment part actually remains pretty cut and dried. Over the past two centuries, stocks have done dramatically better for investors than have bonds or any other asset class. And while, to parrot the mutual-fund prospectuses, past performance is no guarantee of future results, there are sensible economic arguments why stocks should continue to perform best in the future...
...Smith published the results as a book called Common Stocks as Long Term Investments. It was a sensation. Smith--a businessman of no great distinction up to that point--launched a mutual-fund company on the strength of his sudden fame and got an invite from John Maynard Keynes to join the Royal Economic Society. His argument was that stocks would continue to beat bonds because they a) were less vulnerable to having their value eaten away by inflation and b) allowed investors to share in the growth of the U.S. economy in a way that bonds and other assets...