Word: puree
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...pure form, index arbitrage involves the simultaneous purchase of stock index futures contracts and the sale of the stocks that make up the index, or vice versa, to make a profit on the temporary "spread" or price difference between the two. Supporters of this classic kind of arbitrage say it provides a useful and necessary link to equalize prices between the stock markets in New York City and the futures exchanges in Chicago. But recently some Wall Street firms have taken to delaying one or the other leg of the two- part transaction, depending on which way the market...
From the start, the Kennedy School's mission -- to create a "public policy profession," in Harvard President Derek Bok's words -- has been controversial. To the tweedy professors at the university who like their professions traditional and their academics pure, the new training ground smacks of a trade school for bloodless bureaucrats. To those who think governing emanates as much from the heart as the brain, the Kennedy School is, like Dukakis, too systematic and process-oriented. It is politics for non- emoters comfortable with decision trees and regression analyses...
Prestowitz does not suggest that the U.S. copy Japan's symbiotic relationship between government and industry. But he argues that Washington must offer limited support and protection to crucial industries. "At issue is not pure free trade or total protectionism," he writes, since "we have never had and never will have either one; but rather what combination of free and managed trade we will have." He suggests, for example, that military research and development might be redirected toward commercial applications that could lead to increased exports. Some of Prestowitz's prescriptions are vague and put too much faith in Government...
...volunteers say they seek to accomplish something much more basic than pure academic instruction. By socializing with the prioners, tutors say, they hope to help the inmates reintegrate themselves into mainstream society. "We're trying to give them an outlet to the outside world," Walter says. "Exposure to nice, happy people who aren't involved in crime is good for them...
...Quick: That's what defines the Harvard team. Pure and simple... and fast...