Word: stockings
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Dates: during 1990-1999
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...strength amounts to a vote of confidence in the Japanese economy, which, after a decade-long slump, is at last beginning to show signs of life. The renewed activity has sucked in U.S. and other foreign money for 33 of the past 35 weeks, driving up the Nikkei stock market average some 25% so far this year. The problem is that Japanese corporate profits are also heavily dependent on exports, which can rapidly become too expensive for foreign consumers as the yen appreciates. Indeed, big exporters like Mitsubishi and Bridgestone have begun to complain publicly that Japan's currency...
...much do the big guys want this technology? Check out the balance sheet. Firefly, one of the earliest bots, was swallowed by Microsoft for an undisclosed sum last year, as was CompareNet.com six months ago. Excite snapped up Jango.com for $35 million in stock. Lycos employs the services of a bot start-up called Frictionless...
...just over a year ago, Amazon shelled out $180 million for a price-comparison site called junglee.com They tinkered around with its virtual database technology until relaunching it last week as the more prosaically named All Product Search. Wall Street was buying, sending Amazon's stock...
...Chinese freedoms; during the Cultural Revolution, he spent 10 years banished to the countryside, where he learned English by listening to the Voice of America on his secret transistor radio while working in the paddies. Now he is planning for his company to set up an online system for stock trading and banking transactions. "As economic freedoms expand," he says, "we are inevitably securing more social freedoms and the ability to exchange the information and ideas we need to grow...
Taken as a trend, these optimistic titles frighten me. They are the product of a stock market that has gone higher, faster, than just about anyone expected. It's natural to project the recent past to the future. But it's also natural for things to change. Long periods of disappointment have followed long periods of heady market gains at least twice this century...