Word: stockely
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Elberse used the New York Stock Exchange for media conglomerates, as well as the Hollywood Stock Exchange (HSX), a prediction market in which users buy and trade stock in movies...
...reflect the mystery of this place," says Neill, whose merchant great-grandfather arrived during Otago's gold rush and grew wealthy from selling supplies, including alcohol, to miners. "So your family have been peddling hooch around here for 150 years," jokes Peren, who hails from such quintessentially Kiwi stock--as New Zealanders would call it--that his grandfather even had a breed of sheep named after him. Peren launched the Peregrine Wines label in 1998 in partnership with oenophile oncologist Murray Brennan of Memorial Sloan-Kettering Cancer Center in New York City. (Brennan visits for vacations.) Peren's connection with...
THAT A REAL ESTATE BUST MIGHT LAND US IN a recession is in a way fitting because it was a real estate boom that kept the last recession, in 2001, so brief and shallow. Trying to stave off deflation in the wake of the stock-market crash, Alan Greenspan's Federal Reserve cut the short-term interest rates that determine what homeowners pay on adjustable-rate mortgages. Meanwhile, investors desperate for someplace other than the stock market to put their money piled into mortgage securities, driving down the cost of fixed-rate loans. Housing markets, already doing well amid...
...THOUGHTS THAT occupy Yale economist Robert Shiller, who with Karl Case of Wellesley has done more than anyone else to document the postmillennium real estate boom and warn about the inevitable bust. Shiller first made his name in the early 1980s attacking the notion, then widely accepted, that the stock market rationally reflects the true value of the companies whose shares are traded on it. He and real estate specialist Case then teamed up to show that home prices are even more subject to booms and busts than stocks. They did it by measuring repeat sales, which give a better...
After publishing a best-selling critique of the stock bubble, Irrational Exuberance, just as the market peaked in March 2000, Shiller set to work adding a chapter on real estate for the second edition. As part of that effort, he cobbled together an inflation-adjusted index of home prices going back to 1890, which showed that a) the price runup from 1997 to 2006 was by far the biggest on record and b) home prices can fall for decades. Put those two together, Shiller argues, and it's at least possible that we're due for an epic decline...