Word: shared
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Dates: during 1990-1999
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...currency turmoil that hit Southeast Asian countries in mid-1997 was initially expected to last only a few months. More than a year down the road, the turmoil has spread throughout the world. No one has really benefited except possibly the currency traders and share-market speculators...
...totally corrupt and incompetent. The governments of East Asia are far from perfect, but no one can say they did not bring prosperity as well as real, tangible and personally felt benefits to their people. Such was the progress and potential that investors came in droves to get a share of that prosperity. And they all profited hugely from their participation...
...fact is that the economic disaster would not have happened if the speculators had not attacked the currencies and the share markets. If it could happen without their attacks, it would have happened long ago. The same systems and practically the same governments ruled these countries for 40 long years. But far from being economically recessive as they are now, these countries grew by leaps and bounds. Surely these governments were responsible for the so-called miracles. And surely these governments alone cannot be the cause of their economic collapse. Yet these governments are being blamed, while the currency traders...
Nevertheless, the disparity in price has simply grown too wide between big and small companies with comparable earnings per share and comparable prospects going forward. Last week the great Peter Lynch--who outperformed the S&P for the 13 years during which he made Fidelity's Magellan Fund America's largest--brought his common-sense wisdom to bear on the issue. He's adamant that the real value today is in the little stocks, and he's confident that some will grow to be big ones. You have to get the next Ciscos and Intels precisely when they...
...Scott Berg writes in his superb biography, Lindbergh (G.P. Putnam's Sons; 640 pages; $30), "radio, telephones, radiographs and the Bartlane Cable Process could transmit images and voices around the world within seconds...For the first time, all of civilization could share as one the sights and sounds of an event--almost instantaneously and simultaneously...