Word: stocke
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Dates: during 1990-1999
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...Gorges onto the plains, but the impatience for wealth and success only increases. Wuhan, China's fifth largest city, is the transfer point for cargo from oceangoing ships to smaller boats heading further upriver, and has long been a center of commerce. Here are department stores with imported brands, stock-trading houses, U.S. fast-food chains--and "Balls," a newly opened NBA theme bar run by a former car salesman from Taiwan. Not so slick as Shanghai, Wuhan still has its pretensions, enough to attract people such as "Johnny" Wang Liang, a hairdresser who left fashion-conscious Guangzhou "because...
...Mucheng thinks about little else. A "retired" (laid-off) accountant in his 50s, he spends most of his mornings in the hall of the Shengyin Wanguo Securities company in Wuhan's downtown, watching share prices move on the Shanghai Stock Exchange. Li has been lucky recently, usually buying and selling in the same day, "but sometimes I hold shares for longer, even up to two weeks." Li keeps his eyes on the big electronic screen as he talks. "America? A great country, because the President changes every four years. And rich, because it has been developing for 200 years. China...
Some significant move in the prices makes him excuse himself for a moment to make a transaction on one of two dozen automated share-dealing terminals spread around the hall. He comes back smiling; another bet has paid off on a fast-moving stock. "China is changing, for sure. Before you could only buy half a jin [pound] of meat every month. Now you can buy as much as you want, if you have the money." Politics doesn't interest him much. "Zhu Rongji? I don't know much about politics, but at least Zhu understands the stock market...
...YORK: At a little over $50 a share, AT&T is paying top dollar to drive Tele-Communications Inc.'s cable wires into local phone markets. That's 40 percent over what TCI stock was before the rumors of the deal started flying. AT&T is even soaking up TCI's $11 billion in debt along with the $37 million it's paying for the cable business -- but it's worth it, says TIME Wall Street columnist Daniel Kadlec: "AT&T needed this. It gives them a way to get into the local phone market that they couldn't figure...
...respectable 48, according to fund researcher Morningstar, but new technologies and new demand for investments have created a bull market for fund managers. And a deep resume isn't necessarily a requirement for the job. Grech, for instance, has been out of business school for two years, joining precocious stock pickers like his rising Fidelity colleague Erin Sullivan, also 28. While few shops actually give newbies a chance to run a fund as early as Fidelity, it's not too hard to find a fund at any firm that's watched over by some very innocent eyes--a trend that...