Word: predictabilities
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Dates: during 2000-2009
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Given the serious flaws of the SAT and other standardized tests that purport to measure general reasoning abilities, including a limited ability to predict success in college compared to other measures, there is no justification for continuing to require it for college admissions. Bates College made the SAT optional in 1984, and other schools, such as Sarah Lawrence College, have followed suit. Harvard and other institutions of higher education nationwide should do the same...
...import taxes (up to 50% for watches) and its shabby retail environment (there are no upscale shopping streets and few malls). But today India is experiencing a mall-building boom, perhaps a response to the sharp rise of newly affluent consumers?many under age 25. Analysts at Bain & Co. predict that the luxury market could grow 25% a year over the next three years?a far cry from the days when it was the exclusive preserve of Cartier-bedecked maharajas...
Forget about stealth wealth. The Russian luxury consumer wants to flaunt economic status?whether buying fashion or fine jewelry. One telltale sign: the new Millionaire Fair, where vendors come to show off big-ticket items like helicopters, jewel-encrusted pencils and baby bottles made of gold. Analysts predict this market will grow at least 15% over the next five years...
...emotional toll on the Crimson of the last-minute loss at Holy Cross in the season opener—the undefeated season, the perfection of ’01 and ’04, gone in the flash of a Dominic Randolph deep ball—is impossible to predict. It’s a sensation that no one on the team has felt before in his collegiate career, having a midseason winning percentage of .000. 10-0 is off the table. But 7-3 and an Ancient Eight crown? That would probably suit Harvard just fine...
That's not to say that I think the economic news will improve or that markets are poised for a sustained surge. Media pundits, economists and market seers vastly overestimate their ability to predict such things. What I do know is that smart investors yearn for this kind of turbulence. As Warren Buffett once put it: "The true investor welcomes volatility" because it often produces "irrationally low prices" for "solid businesses...