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...guess the rest of the story. The dotcoms imploded; the price of oil climbed, climbed and climbed some more--and Rainwater's energy bet came to look like one of the better investment calls of our time. It has netted him about $2 billion, vaulting him from the mid-200s on Forbes magazine's 1999 list of the 400 richest Americans to No. 91 last summer (with $3.5 billion overall...

Author: /time Magazine | Title: Will the Oil Bubble Burst? | 6/5/2008 | See Source »

...definitely thinks oil prices are due for a fall. That's why he sold. But he makes no claim to having gotten the timing perfect. After he sold out in May and oil kept rising, past $135 per bbl., Rainwater briefly thought he'd made a terrible mistake. The price has since subsided a little, and he has calmed down a little. Still, he says, "It's a call that I've made, but who knows? Who knows if I'm early...

Author: /time Magazine | Title: Will the Oil Bubble Burst? | 6/5/2008 | See Source »

...Rainwater expects is a "little lull" in energy prices; after that, "I will reload, and then I'll go off again." He is vague about what exactly would prompt this reload. "I'd like to re-enter at a good price, and I'd like to re-enter at a good time, and I'd like to make another couple billion dollars," he says. Who wouldn...

Author: /time Magazine | Title: Will the Oil Bubble Burst? | 6/5/2008 | See Source »

...larger policy issue: "If these wars are important enough," asks Thompson, our national-security correspondent and a Pulitzer Prize winner, "isn't it important to have sufficient troops so that the Pentagon doesn't have to keep recycling troops into combat like mental cannon fodder, without consideration to the price they ultimately have to bear?" The answer, of course...

Author: /time Magazine | Title: The Big Stories | 6/5/2008 | See Source »

...Allowing the open sale of tickets would have many benefits. Since it would likely increase the supply of tickets more than the demand—because people who need extra tickets are often more willing to break the rules than those who have extra tickets—the price would likely be lower than the current black market price. Permitting the market would also decrease the number of people being ripped off. On house open lists, tickets often sell at prices ranging from $50 to $100, but it is likely that students often pay more than that, since the secretive...

Author: By Daniel P. Robinson | Title: Harvard’s Black Market | 6/5/2008 | See Source »

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