Word: shrank
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...have not been true to my values," he told us. Probably so, but what exactly were those values? Other than green jackets, what does Tiger prize? This is, after all, one of the world's most secretive athletes: a billionaire who christened his yacht Privacy, a star who shrank from the spotlight while building sport's most lucrative brand. For years his statements have been as bland and scripted as his Sunday tournament garb. But even with his myth punctured and his personal life in tatters, Tiger can still lean on his talent. As much as we love tearing down...
...tabloid scrutiny" an approach that missed its mark. "I have not been true to my values," he told us. Probably so, but the statement was unverifiable; Woods calibrated his image as carefully as any man alive. Burned by a brash, freewheeling interview in GQ early in his career, he shrank from the spotlight even while courting it to augment his fortune. He shut out the press, cloistered his family in ritzy enclaves, abhorred distractions. This is a guy whose $20 million yacht is named Privacy. For years his interviews have been as scripted and predictable as his Sunday tournament garb...
...foot, even a city of 18 million people can feel like a village. I was reminded of this during the attacks on Mumbai a year ago, when the only way to get around was by walking. For three days, my world shrank to a tiny patch of the city's southern tip as I trudged through seemingly endless loops between the places where a handful of terrorists had holed themselves up before they were killed by commandos. The curving path from Nariman House back to my hotel is imprinted on my memory, along with the kindness of the stranger...
...reminiscent of the seemingly endless wrangles in the late 1980s and early 1990s with Japan, which accounted for the bulk of the U.S. trade deficit in those days. The trade deficit with Japan never shrank much in dollar terms, but it became smaller as a share of GDP starting in the mid-1990s, and was eclipsed by the trade imbalance with China in 2000 (in September the U.S. trade deficit with Japan was $4.1 billion, compared to $22.1 billion with China). The issue was never resolved, but it ceased to seem so important. Could that happen with China...
...there were a simple correlation between financial-sector growth and economic growth, Philippon reasons, finance's share of the economy would stay constant. But when he examined data back to 1860, he found that finance's share of GDP varied widely. It ballooned in the late 19th century, shrank, ballooned again in the 1920s, shrank and stayed low for decades, then began to grow again in the 1970s, reaching unprecedented levels earlier this decade. The measure Philippon uses is the economic value added of the financial sector as a percentage of GDP, which was at about 4% in the 1960s...