Word: stockely
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...those who don't recall, Leeson was 27 years old, living in Singapore, and trading futures contracts based on the Nikkei stock index and Japanese government bonds when he got into trouble in the mid-'90s. He was anything but one of the investment banking "Masters of the Universe" made famous by Tom Wolfe in the 1980s. He was a relatively ordinary young professional on an obscure trading desk, who bet the wrong way on the Nikkei's direction; then he doubled down, trying to recoup the firm's money, and lost again. At one point in early...
...Collective survival instinct, for one. With investigations underway by the Paris stock market regulators and shareholder lawsuits proliferating, Société Générale is now considered a fat and defenseless takeover target. The likely prospect that its post-merger work force would be slashed is a chilling one in a France groggy with nearly 8% unemployment. During trading Tuesday, SocGen's stock price jumped nearly 11% amid heavy trading on rumors rival BNP is planning a hostile bid on the bank. That prospect appeared even more feasible on Wednesday, as BNP announced 2007 profits...
...Suharto's soldiers and all of his money, Indonesia was inundated by the Asian financial crisis. Currency speculation had led to the collapse of Thailand's currency, which started a chain of events that swamped Indonesia's rupiah. The devaluation sent company profits dramatically downward; Jakarta's stock market crashed. Food prices spiked upwards, leading to rioting in the streets and the death of perhaps hundreds of people clamoring for food in the capital. The country's divisions re-emerged: Muslims vs. non-Muslims; Malay-Indonesians vs. Chinese-Indonesians; secular Muslims vs. orthodox Muslims. The ghosts of the old Indonesia...
YOUR INVESTMENTS: Prepare a shopping list. January's stock swoon may have been unsettling, but it's no reason for panic. "Someone walked up to me and asked if he should put everything in cash," says Nicholas Nicolette, principal at Sterling Financial Planning. "That was an emotional reaction." Instead, use this time to cherry-pick overlooked, undervalued stocks. "For the well-prepared investors, these down moves provide opportunities," says Jeffrey Saut, chief investment strategist at Raymond James Financial. Just make sure to go bargain-shopping within the confines of a calm-headed, long-term strategy...
...repercussions continue to spread through the financial system. It's certainly the worst in home loans, but the troubles in mortgage markets have caused investors to look at other securities a little more skeptically. There's no telling exactly what set off the sell-off in global stock markets, but a possible candidate was the Jan. 18 downgrading by Fitch Ratings of U.S. bond insurer Ambac. The insurer allows cities and other bond issuers to pay lower interest rates because their insured bonds are deemed virtually risk free. But now markets are beginning to question whether Ambac and other bond...