Word: stocking
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...fall 2007, I found myself on the 19th floor of the Manhattan skyscraper known as the Lipstick Building, listening to Bernie Madoff explain to me how he made money. This was in preparation for a discussion called the Future of the Stock Market that I was moderating; Madoff was a participant. (It's a big hit on YouTube - just Google "Madoff video.") Sadly, he didn't happen to mention the now infamous Ponzi scheme he was running two floors below us. At issue was his legit business, a brokerage that had long been one of the biggest marketmakers (the firms...
...between stuffing your face with turkey and listening to your aunt tell you how proud she is that you go to Harvard, take advantage of Thanksgiving Break to stock up on two of the most precious commodities for a Harvard student—winter clothes and sleep...
...Pupils work like commis chefs, learning how to brunoise-cut courgettes into perfect tiny cubes to maximize flavor. They make a stock with pea pods (which pureed and served with ricotta makes an instant summer soup). There's detailed instruction on using up leftovers (sea-bass trimmings are transformed into a tartare with lime, coconut milk and chili) and on how to finish an emulsion sauce without it curdling (it involves using cream whipped over ice). Students then get to sit and eat the spoils of their labor. (Watch TIME's video "Bocuse d'Or: Americans in a French Food...
...several hundred percent [return] is possible" if leverage is used, says Anton Schutz, portfolio manager of the Burnham Financial funds, which have been investing in the sector since last fall. However, he believes the biggest buying opportunities are still six to 12 months away. (See the top 10 scared stock traders...
...investors have been cautious on the group, giving only lukewarm receptions to four entities that recently went public in the sector: PennyMac raised only $335 million in its IPO - less than half of the $750 million it had expected - and its stock fell below its opening price after trading began; Invesco Mortgage Capital Inc. (IVR) raised $170 million; and Cypress Sharpridge Investments (CYS) grabbed $100 million. Starwood fared better, raising $810 million - the second largest IPO this year - but its share price also slipped below its IPO price the first day. (See which businesses are bucking the recession...