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...government study of mutual funds revealed??that they were, on average, average, or worse. This was an affront to many on Wall Street who assumed that, of course, professional investors beat the market. It was left to legendary investor Benjamin Graham to explain in a speech to securities analysts that "neither the financial analysts as a whole nor the investment funds as a whole can expect to 'beat the market,' because in a significant sense they (or you) are the market...

Author: /time Magazine | Title: Hedge Funds Head for Mediocrity | 2/1/2007 | See Source »

...deal had been struck between Ford and Nixon in the fateful early days of August: Nixon would quit if Ford would agree to pardon him at the earliest feasible moment. But that seemed highly unlikely, particularly considering that the pressures on Nixon to resign grew irresistible after it was revealed???three days before he quit?that Nixon had long been involved in the Watergate cover-up and had repeatedly lied to the nation about his actual role...

Author: /time Magazine | Title: The Pardon That Brought No Peace | 9/16/1974 | See Source »

...presidential concurrence even to make such an offer, if it was made in, so to speak, good faith. Why the Kalmbach pledge was not fulfilled was not revealed???and Kalmbach cannot testify about his conversations with Nixon unless the President waives their attorney-client privilege...

Author: /time Magazine | Title: WATERGATE: Seven Charged, a Report and a Briefcase | 3/11/1974 | See Source »

...Stalin, who is studying chemistry to become the manageress of a Soviet rayon mill, has been cutting classes?the Moscow Press startlingly revealed???and worse than that, two books which she had borrowed from the Chemical Institute's library were overdue last week! For these faults Mrs. Stalin's name was chalked with those of 50 other sinners on the Chemical Institute's black (bad) list. To Moscow newshawks Mrs. Stalin's professors explained very, very carefully that ordinarily she is prompt about returning library books, she had only cut three classes when reprimanded, she is really an exemplary student...

Author: /time Magazine | Title: RUSSIA: His Salary, Her Sins | 4/11/1932 | See Source »

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