Word: sunk
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...about 33%, resulting in significant losses for investors like Zhang Renfeng. A 63-year-old retiree, Zhang thought it was a no-brainer to buy into the big oil company. "All my friends were saying 'buy it,' so I thought, 'How could I lose?'" says the former schoolteacher, who sunk part of her life savings into stocks two years ago and often hangs out at a brokerage office near her home, watching the markets and playing cards with her friends. But her PetroChina play lost more than 12%, and her other investments have also fallen. In mid-November, Zhang gave...
...rush for the exits could pose problems for China's economy. According to a recent study by Merrill Lynch, China's investor class - an estimated 150 million people - has sunk 22% of its capital into the stock market, compared with 8% two years ago. Shanghai-based economist Andy Xie calculates that if the stock market drops by half, urban households will lose about 20% of their overall net worth, putting a dent in consumer spending. Overall, economists figure that a 50% decline in equity values might lop 1-1.5% off China's double-digit GDP-growth rate...
...thoughts...on movies: Let's start with Saw IV: PASS ON IT. Second, No Country for Old Men: See it!!! Of course, I'm basing all my intelligence on Yahoo! Movie Preview reconnaissance. Only the best. Back to the line for Magnarelli's first free throw. 7:48: Sunk. That's two for the Crimson who are up to 14 now. 7:30: Excited defense translates into a steal in the paint despite missing out on another defensive rebound moments before. 6:58: Housman goes to the line after driving into traffic for a missed floater. 6:58: Mustache offers...
...these guys, anyway? Dubai's Sheik Mohammed bin Rashid al-Maktoum, Qatar's Sheik Hamad bin Khalifa al-Thani and Abu Dhabi's Sheik Khalifa bin Zayed al-Nahayan are sons of gulf royalty. But these are not their fathers' investments. Gulf money 20 years ago was being sunk into safe-bet, low-yield U.S. Treasury bonds--or the arms bazaar. Some recent deals--Dubai's brief holdings in DaimlerChrysler and Madame Tussauds, for example--have been opportunistic. But Dubai's bid for NASDAQ is part of a vision for positioning the city-state as a world-class business center...
...call about a possible coup while being interviewed by TIME. "If only," she responded. "If there were a coup, it would be the best day for Pakistan." That a diplomat should wish for another military coup in her own country is a measure of just how low Pakistan has sunk...