Word: trader
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...Khashoggi's problems are in keeping with the way he operates. In an age of ubiquitous M.B.A.s and computer transactions, Adnan Khashoggi is a wily and gracious trader, an exemplar of the Arab-Islamic values of daring, cunning, loyalty and generosity. For him the deal is the thing, the only thing. Business, love, politics, diplomacy -- they are all forms of dealmaking. He proudly admits that he dissembles, uses women, flaunts his wealth to get an agreement. "When I am trying to broker a deal," he says animatedly, "in diplomacy or business, I don't tell the truth to both sides...
...master broker but a precarious builder. Instead of constructing institutions, he has created a cult of personality. He is the product of the Middle East, where loyalty is to individuals, not institutions; he understands the psychology of one-on-one haggling, not the culture of corporations. "I am a trader," he says. "If I can make a decent profit, I prefer to take it and get out. There are others who hang on to an investment in the hope of realizing profits several times the money invested. They are welcome to their method. I prefer mine...
...pool at the Beverly Hills Hotel are on the set of a deal so big and racy that it could inspire a screenplay. The 74-year-old pink-and-green landmark has been sold at auction by the feuding family of Wall Street's most notorious insider trader, Ivan Boesky. The buyer: Tycoon Marvin Davis. The secretive Denver oilman, 61, submitted the winning bid of about $135 million to Boesky's wife Seema and her sister Muriel Slatkin. The sisters have not spoken in years, partly because Seema, who held 52% of the property, and Ivan refused Muriel a private...
...investors rushed to dump them, leaving the "arbs" with collective losses of $1 billion or more. The arbitrage department at Merrill Lynch, for example, is estimated by competitors to have dropped $20 million to $50 million. "It has been a brutal time for all of us," declared one trader...
Boesky (pronounced Bo-ski) was terribly good indeed, thanks to frantic 20-hour workdays, obsessive research and a natural trader's ability to talk on several telephones at once. It was as if he had stored up millions of kilocalories of energy during his aimless years and was now unleashing them on an unwary Wall Street. "Boesky did not really need to cheat," observes Corporate Raider T. Boone Pickens. And yet he did. His relentless drive to get an edge appears to have pushed him right over it. Boesky seemed to expect something like that might happen...