Word: mutuals
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Dates: during 1990-1999
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There seems to exist every reason to foresee a crisis in a tacit, longtime, mutual appeasement. Forty five years ago, because of the military intervention of the United States, Mao Zedong, reluctantly gave up his ruthless ambition of sparing none. Across the strait, Chiang Kai-shek thought the same. After spending some time interpreting Mao's "mercy," Chiang also subdued his obsession of recapturing the mainland, and his dream of visiting his hometown one more time gradually faded away. With the United States in between, relative peace was achieved out of a forced balance of explosive tension...
That kind of counterintuition has served Steinhardt well over the years. His funds produced an average annual return of 24%, netting him a personal fortune of $400 million and providing his investors, whose assets total $2.6 billion, with huge profits. Unlike mutual funds, which handle investments of varying sizes from an unlimited number of clients, hedge funds are private limited partnerships of no more than 99 investors, usually with a minimum stake of $1 million. As such, they are not subject to the same regulations imposed on mutual funds by the Securities and Exchange Commission. By selling short securities whose...
...become black again, thanks to Mark Fuhrman, who treated him like a "nigger," and Johnnie Cochran, who made sure nobody forgot it. Once again, blacks and whites are glaring at each other across the color line in mutual incomprehension as yet another trial of American race relations unfolds in the City of Angels. To whites, the central issue is whether Simpson is a murderer, while to blacks it is whether the process that brought him to trial was fatally contaminated by racial bias. Simpson is still no hero to most blacks, but he has become an indelible symbol of their...
...Hmong job-placement counselor. The change has already started. Though 40% of Hmong are unemployed, nearly 90% of Hmong students graduate from high school--the same rate as among their white counterparts. "I don't know how much time it will take," says Peter Yang, who heads the Hmong Mutual Association. "But a Hmong can become mayor of Wausau...
Provoking strong Russian displeasure, NATO announced that any new members from the former Soviet bloc would be given the same offer of mutual defense--including the use of nuclear weapons in case of attack--promised to all members. Said a Clinton Administration official: "There will be no second-class nato members...