Word: mutuals
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...Belgium has faced long political deadlocks before: it endured six months of coalition negotiations and caretaker governments from October 1978 to April 1979 before a compromise was agreed. But this time, the politicians appear to have reached new levels of mutual incomprehension. "The north and south don't know each other any more," says Peter Vandermeersch, editor of the Flemish daily newspaper De Standaard. "Old-guard politicians would meet, if not publicly, then privately. They would play the parts of the staunch Fleming or Walloon, but they would strike a deal...
Pichuzhkin said he made his first kill when he was 18. At the time, he said he was conducting an affair with a girl named Olga, who lived next door. When she dumped him up for a mutual friend named Sergei, Pichuzkin says he killed Sergei by throwing him out a window. Though he was originally under suspicion, Pichuzkin says police finally concluded that Sergei's death was suicide. He did not kill again until five years ago, when the Bitzevsky Park murders started. Pichuzkin now claims to have killed his former girlfriend Olga as well, apparently after luring...
There is also Ethiopia's mutual enmity with its immediate northern neighbor Eritrea. After a 30-year struggle for independence, Eritrea seceded from Ethiopia in 1993, and the pair fought a border war in 1998-2000 in which tens of thousands died. Wounds from that fight are still fresh, and the border dispute remains unresolved. On occasion, Somalia has served both countries as a battleground for proxy wars. With such a confluence of conflict, the nightmare scenario has long been a regional war that engulfs the Horn, perhaps impeding Suez Canal shipping traffic. According to a Western official in Addis...
...Princeton economics major Jack Bogle wrote a senior thesis extolling the virtues of the small but growing mutual-fund industry. At the time the reigning view of the stock market was that expressed 1 1/2 decades earlier by the great English economist (and speculator) John Maynard Keynes: it was a "casino," a "whirlpool of speculation," a "game of Snap, of Old Maid, of Musical Chairs." Young Bogle argued that the growth of professionally managed funds would bring a new age of calm rationality to the market and thus "militate against Lord Keynes' dismal and socialistic conclusions...
After graduation, Bogle went into the mutual-fund business, later founding the Vanguard fund family, now the country's second largest. As he had predicted, mutual funds became an ever bigger force--they and other institutional investors now own more than 70% of U.S. stocks, up from about 10% when Bogle wrote his thesis. Professionals managing other people's money dominate almost every financial market, from bonds to pork-belly futures to collateralized debt obligations...