Word: risklessly
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...confronted with my folly a few years ago, while interviewing a marketing guru. "When you make a large purchase," he theorized, "there is a simple formula everyone follows -- risk reduction." His prime example, reading me perfectly, was the little blue Tiffany box, which he called "an expensive sign of riskless excellence...
...easy to flee back to Tiffany, that bastion of riskless excellence. But bravely I hold my ground on 47th Street, like a World War I doughboy dug in on the Marne, because I have finally absorbed an enduring life lesson: children play with the box; adults care about what's inside. So to Tiffany Ariana Trump, I wish a childhood filled with blue boxes with her first name on them. And if in later life she feels compelled to live up to her first name, may she skip the diamonds and instead open a homey little restaurant. Anyone for Breakfast...
...take more chances on lending? One reason is that the current interest-rate structure has provided them with a rare opportunity to make a sure-thing return, which banks are exploiting. They can get money from depositors at only 3% interest, then turn around and invest it in riskless medium-term Treasury securities that earn about 6%. The three-point spread is almost pure profit, with few administrative costs. In the past 12 months, lenders have increased their holdings of Treasury bills and notes 23%, to $630 billion, while their portfolio of business loans dropped 4%, to $594 billion...
Cabot said the University held down its losses by cutting down its stock holdings and keeping more money in riskless cash holdings...
Real estate is no longer a nearly riskless investment. Instead of rising 10% to 15% a year, the median sales price of an existing home has fallen 1.3% from its high last year, to $67,200. Moreover, those statistics understate the amount of decline because they do not include attractive financing concessions that many sellers are now making. In California buyers with cash can sometimes get a 10% discount. A few New York City developers are offering special mortgages on cooperative apartments, like 12.5%, compared with a bank rate of 17% or more. For someone who borrows $100,000, that...