Word: mutuals
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Dates: during 1990-1999
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Abdi and the others can still scarcely help themselves when it comes to blaming America for Iran's ills. Asgharzadeh says he is willing to say he's sorry if the repentance is mutual, but Mirdammadi disagrees: "I am sure that we will never apologize to America." Abdi is not looking for a lovefest but wants mutual respect and diplomatic relations for the sake of Iran's national interest. As he puts it, "The Americans were a nuisance to us, and we were a nuisance to them. Perhaps now we can talk to each other on an equal footing...
...There's a very mutual respect between them," he said, "particularly for their mutual interest in race relations...
...teeth this decade, starting in 1990 with a Fed decision allowing J.P. Morgan to begin underwriting securities. In 1997, Bankers Trust (now owned by Deutsche Bank) bought the investment bank Alex. Brown and officially married two businesses divided since the Depression. Meanwhile, banks had begun marketing annuities and mutual funds, and brokers had begun offering CDs and loans. Leaders in all corners had come to agree that Glass-Steagall was obsolete. They just couldn't compromise and find a solution...
...First, take heart. You aren't the only one dumb enough to bet on a great company during a period of unsettling sales growth and a Fed turned hostile to higher stock prices. If you haven't taken a hit in your personal portfolio, you can bet that your mutual-fund managers have their own shrapnel collection...
BLUE-SKY INVESTING Your mutual-fund manager may start betting on the weather, literally. This month two energy firms are expected to issue some $100 million in "weather bonds," whose returns are based solely on average temperatures. These new bonds, rated in the BB range, allow weather-sensitive businesses--utilities, ski resorts--to hedge against losses caused by extreme temperatures. If Mother Nature behaves, holders can expect 10% to 30% returns; but a mild winter or scorching summer could melt profits and principal. On another front, the Chicago Mercantile Exchange started trading weather futures in September. Along with pork bellies...