Word: stockings
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Dates: during 1990-1999
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There are no easy answers to the mounting U.S. current account imbalance. The normal strategy would be for Washington to raise interest rates, but that would create a vicious circle: depress the stock market, diminish consumer spending and drive foreign money away. Lipp hopes the threat of a recession would provoke quick agreement among the G-7 countries to cut interest rates and taxes. But Hormats cautioned that in the U.S. there's no prospect of easy accord between Clinton and the Republican Congress on cutting taxes or, even harder, deficit spending. Expect a lot of Washington jawboning this year...
...lifelong curiosity about the U.S. was also in evidence. When discussing the equality of mankind, he quoted parts of Lincoln's Gettysburg Address. He still remembers the English-language textbooks he used when studying to become an engineer. He recalled fondly his 1997 trip to the New York Stock Exchange, where he rang the opening bell. And, showing his mastery of my biography, he chided me for not bringing my wife, author Nancy Friday, saying it would have been more interesting to discuss her subjects--envy, jealousy, relationships and sex--than mine--economics and geopolitics...
...takes my hand with calm assurance and begins feeling for vibrations. The bottom section of my left palm yields results. "O.K., more hydration, more vitamin C," she reports. After a while, I press for a stock-market tip. She directs me to smartmoney.com...
...Warren Buffett left billions of dollars on the table by never splitting the stock of his company? It sure seems that way. In the past few weeks, dozens of firms from Internet darling eBay to Xerox to Microsoft have announced splits and watched their stocks soar. Last week athletic-shoe company K-Swiss joined the fun by announcing healthy earnings and a 2-for-1 split. Its shares jumped 23%. To the same point, when Cisco Systems on Feb. 2 posted earnings that beat Wall Street estimates but failed to declare an expected stock split, its shares dropped...
...Buffett, the fabled investor and CEO of Berkshire Hathaway, refuses to split Berkshire's A shares, which traded last Friday for $72,500 each. If stock splits add lasting value to a company, as today's fervor suggests, it's a wonder that Buffett is held in such high regard. His reputation, though, wasn't built by pandering to passing fads...