Word: trading
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Dates: during 1990-1999
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...just overtaken GE as the world's largest capitalization stock. But then the mischievous GE seller disappeared. The stock rose right back to 75 7/8, putting the company's total market value back above that of Bill Gates and his gang--and, more important, giving me my best trade of the week when I badly needed...
Throughout the week, name-brand stocks like Citicorp and J.P. Morgan--stocks that usually trade in eighths and quarters--dropped in two- and three-point gulps. I tried to scoop up some Chase bank shares at $47, only to be told I had bought it at $45--seemingly good news, but the stock was at $44 by the time I got confirmation of the trade. Sure, some of the lack of liquidity might stem from the large number of traders still vacationing, but most of it came from fear--fear that if the sellers didn't act fast, someone would...
Other companies that took major hits were transportation stocks whose business involves trade and travel: the parent companies of such airlines as American, United and Delta. Companies like Coca-Cola, Procter & Gamble and Gillette, which not long ago were praised for their successful penetration of global markets, last week were punished harshly through stock sell-offs. General Electric, the world's most valuable public corporation and one of the most admired, fell 22%, losing $68 billion of its market value...
...their jewelry overseas and bring the money back to Malaysia. To cut a huge foreign bill for food, he asked people to plant vegetables in their front yards. Last week Mahathir took the bold step backward of withdrawing Malaysia from the global economy, sealing off its currency from outside trade and sacking the pro-market Finance Minister. Absurdly, he also found time to attempt a world record by leading 1,998 Malaysian-made cars in the world's longest convoy...
Both Sachs, who is also the Stone Professor ofInternational Trade at the KSG, and KwesiBotchwey, the director of the program on AfricanDevelopment at the HCID, will speak at the event...