Word: summers
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Hedge-fund managers will not look back on the summer of 2007 with fond memories. The first half of the year had gone pretty well. Investors had poured record amounts into the funds, to the tune of $135 billion through July, exceeding the total $126 billion that flowed into the sophisticated, shadowy investment vehicles in all of 2006. Most hedge-fund managers were enjoying solid returns: the industry averaged a 7.37% gain through the first seven months of the year, according to Hedge Fund Research (HFR), a Chicago research firm. That was nearly double the performance of the benchmark...
...Although financial-market stability appears to have returned, for a few weeks this summer an LTCM-like collapse seemed like a possibility as the credit crunch intensified. That's one reason why there's growing urgency to understand how these huge pools of private capital can disrupt markets. In the U.S., California lawmakers and regulators are pushing a proposal that would require larger hedge funds that have fewer than 15 clients to register and to open their records to state oversight. In Europe, the German government is spearheading an inquiry into the subprime crisis by the G7 group of industrialized...
...Last summer, for example, Harris spent eight weeks with free housing and on a $1,500 stipend attending the Charles Koch Seminar. Through the seminar, he was able to meet other libertarian college students and spend six weeks in an internship at the Cato Institute. The force behind the majority of these libertarian contacts and grants is the Institute for Humane Studies. The Institute prides itself on promoting policies aimed at liberty—typically in the form of libertarianism among college and graduate students. This aid materializes in the form of internships, summer seminars, and annual donations of around...
...wife's Uncle Pinky has the same bottle opener, and it went off spontaneously in a kitchen drawer this summer, so that a disoriented Pinky - roused from sleep at 3 o'clock in the morning - thought Red Sox announcer Joe Castiglione had broken into his house. And here's the thing: Pinky was disappointed to learn that he hadn...
...afternoon this summer, when my wife changed our 1-year-old and decried her "big poopy," our 2-year-old said from the next room: "Mom, it's Big Papi." Which is when I began trying, for the sake of the children, to embrace the Red Sox, whose clutch-hitting slugger, Big Papi, is impossible to dislike...