Word: stockings
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There are limits, of course, to any market; they just don't announce themselves until the damage starts. Art bubbles can presage stock market busts, as happened in 1987 and 2000. Several weeks ago, entertainment mogul David Geffen sold two postwar paintings by Jasper Johns and Willem de Kooning for a combined $143.5 million. Geffen also sold a Jackson Pollock last week for $140 million, making it the single biggest art sale ever. It topped the previous record breaker--cosmetics magnate Ronald Lauder's purchase of Klimt's Portrait of Adele Bloch-Bauer I in June for $135 million. Although...
...Vietnam is already on a roll. It's GDP growth rate this year is projected to be 8.2%, the second-fastest pace in Asia behind China and in a dead heat with India. Exports were up an estimated 24% in the first 10 months of 2006. The nascent stock market in Ho Chi Minh City is one of Asia's best-performing this year, up 70%. To top it all off, Hanoi is hosting this year's Asia-Pacific Economic Cooperation summit, on Nov. 18-19, which is expected to be attended by U.S. President George W. Bush and China...
WARREN BUFFETT, businessman, philanthropist and second richest man in the U.S., on buying his first shares of stock...
With clean-cut sponsors like Tide, the U.S. Army and Nextel fueling NASCAR's multibillion-dollar engine, stock-car racing's seedy past has been buried beneath the track. Thompson exhumes the sport's Prohibition-era roots in this colorful, meticulously detailed history. Painting NASCAR as "the accidental sport of Southern moonshiners," he recounts wildly entertaining stories of how late-1930s racing pioneers like Lloyd Seay, who was later murdered by his cousin, and "Reckless" Roy Hall, a jailbird, honed their craft during bootlegging runs, dodging the law on dusty Georgia back roads...
...traders credit that rise to continued speculation of a management shake-up and potential takeover of the German phone giant. Lacking any good news on the company's business outlook after an analyst meeting on Thursday, Telekom's shares tumbled 2.45% on Friday after some analysts downgraded the stock...