Word: terming
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Dates: during 1990-1999
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Investors usually look no further than their medicine chest or refrigerator for their long-term stock ideas. Sometimes, though, you have to look in your laundry room or garage. The value in today's market lies not in "defensive" names--the Mercks and the Proctor & Gambles, which are priced dearly on recession fears--but rather in stocks and bonds of companies that need a strong economy to push them higher. Wall Street's newfound pessimism could give you a chance to buy these normally "risky" instruments at prices at which the risk is more than amply compensated and nothing lies...
...imbalanced and inaccurate. You charged that the Interior Department is engaged in "federal nonfeasance" in negotiating habitat conservation plans (HCPs) with landowners under the Endangered Species Act. The fact is, Congress created the HCP process to reduce conflicts between listed species and economic development. HCPs do provide for long-term conservation of species. HCPs allow us to rely on protected habitats for species across wide tracts of land for years to come, which helps in planning recovery of species covered by HCPs. JAMIE RAPPAPORT CLARK, Director Fish and Wildlife Service U.S. Department of the Interior Washington
...Federal Reserve has used its might to rescue the high-flying hedge fund Long Term Capital Management [BUSINESS, Oct. 5], and some billionaire greed addicts have been spared. But where was the Fed when American farmers were having their land auctioned a few years ago? Why isn't the Fed rescuing women who are paid less than men for the same work? And why isn't the Fed saving American children living in poverty? The risk of saving this hedge fund has been called a "moral hazard." Hell, I'd call it a "moral outrage." ROBERT MARRONE Fair Oaks, Calif...
...terrifying that a few disgracefully greedy people who were able to invest $10 million each with Long Term Capital Management might have disrupted the world economy with their avaricious money games. Surely the "geniuses" running this shell game knew the earth-shaking risks involved, and they proceeded anyway. This is much worse than unfettered hubris. Shouldn't the well-to-do speculators be severely punished for exposing all the rest of us to such dangers? SUSAN BARRETT St. Louis...
...chutzpah of Long Term Capital's principal manager, John Meriwether, is matched only by the unmitigated greed and ignorance of his hedge fund's investors. They took absurd risks, and they deserve to lose! MITCH FALCON New York City...