Word: sankes
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Dates: during 1990-1999
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...Soros sank $10 million into the company, and his timing--as usual--was impeccable. In 1991 Argentina's battered economy turned around; an independent currency board has maintained a rock-solid one-to-one parity between the peso and the U.S. dollar, which in turn encouraged Soros to increase his investment; it totals around $250 million. Flush with cash, IRSA has been on a buying spree, investing in everything from a $50 million sports complex to major office buildings to $450 million worth of swank shopping malls. In the posh ski resort of San Carlos de Bariloche in the Andes...
America Online faces a struggle to convert loyal CompuServe users following an unexpected takeover of their rival (TIME Daily) ... Hundreds of passengers are feared dead after a ferry sank off the coast of Haiti (Reuters) ... Paula Jones' lawyers want out of her suit against President Clinton (TIME Daily) ... The illness that helped bring down Mobutu Sese Seko finally killed the former Zairean dictator (TIME Daily) ... Mir's main computer fails, but the crew sleeps on (TIME Daily) ... Palestinians are cracking down on Islamic militants as Madeleine Albright prepares for her Mideast peace mission (Reuters) ... Mourning continues for Princess Diana (People...
Hooray, the long-term capital-gains tax rate has been cut. That's good news--if you know how to use it. The last two times the rate fell, in 1978 and 1981, some distinct patterns emerged: the stock market sank but ultimately staged a powerful recovery. There was also a noticeable flow into the stocks of small companies. The problem is that in this so-called new-era economy, historical benchmarks have been about as useful as an abacus in Silicon Valley. To borrow a phrase from the new-era crowd, it's different this time...
Your review of Sebastian Junger's The Perfect Storm [BOOKS, June 23] recounted a dramatic sea story but was incorrect in some facts. I am the owner and captain of the sailing vessel Satori, which your reviewer said sank in the fierce 1991 storm off the East Coast. In fact, before evacuating the vessel, I lashed the helm, sheeted in the storm jib and checked the compass. Seven days after my crew and I were rescued, I had Satori pulled off the beach in Maryland. Her bilges were dry, and there was no structural damage. Since then, I've sailed...
...heard such naysaying before. This mighty bull market long ago trampled traditional value measures such as stock prices relative to corporate assets and dividends. Investors--correctly, it turns out--laughed off the notion that the market must weaken just because dividend yields (annual dividend divided by stock price) sank to below 2% when they've rarely been below 3% any time this century. They also laughed off gobs of anecdotal evidence that prices were precariously high: cab drivers offering mutual-fund tips, barbershops tuned to CNBC, record prices for seats on the New York Stock Exchange, exploding margin debt...