Word: stockings
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...reports and announce the new restrictions at a hastily convened press conference. That incident was just the latest example of regulators trying to control an unruly market. With a total capitalization of only $121 billion?far less than half of Microsoft's current market cap of $295 billion?the Stock Exchange of Thailand (SET) is dominated by small investors who spook as easily as a school of herring, causing volatile price fluctuations. During a roaring market last year (the Thai market's 116% gain in 2003 was tops among the world's exchanges), regulators tried to put the brakes...
Jeffrey Citron might have been prewired to be a telecom mogul. In 1987 he was a know-it-all high school kid in Staten Island, N.Y., restless and bored with his classes, when an economics teacher organized a stock-picking game. Citron was soon hooked. Just after the market crash of 1987, he bought stock in phone upstart MCI at a few dollars a share. It soared. "I don't know if I was smart or I got lucky, but it was one of the few stocks I picked that brought a profit," Citron recalls. After finishing high school...
Aggressive and driven, Citron built and sold two hugely successful financial-services companies within 10 years, netting more than $200 million before he was forced out of finance by an SEC investigation that accused him of stock manipulation. He paid a massive fine--$22.5 million--but admitted no wrongdoing. Instead of slinking into well-heeled obscurity, he plotted his return, this time determined to shake up a new industry. Citron, 33, is now CEO of Vonage, which has become, in 18 months, the leading player in the explosive new market for home-phone service via high-speed Web connections, known...
...transported to Florida and let loose. They began breeding with their endangered Floridian cousins. Last April, Florida Fish and Wildlife Conservation Commission officials declared the program a success, estimating the genetically healthy population at 80 to 100 animals. Alas, the Iberian lynx has no suitable relative to reinvigorate its stock...
...case you haven't noticed, the stock market is going nowhere. Sure, last year the Dow rose 25% from depressed levels in 2002. But the average stock is down again this year and has been dead money for more than five years. Since the Dow first closed above 10,000, in March 1999, it has crisscrossed that milestone 21 times and hovers near there today...