Word: tycooning
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Another attraction of commodity speculation is that the investor can wheel and deal on a tycoon's scale with relatively little of his own money. Most futures can be purchased on 5% margin, meaning that the speculator can buy a $100,000 future contract by putting up only $5,000 out of his pocket and promising to pay the rest upon delivery. If the price then rises 5%, he can buy another $100,000 of futures with his $5,000 paper profit, and so on and on in a process known as pyramiding. Obviously, pyramids built on such...
...jiggle their pasteboard bones in each recess; the cellars resound with prerecorded mutters, wails and injunctions to silence; entrepreneurs tap their way down the corridors, prodding each moulding in the hope that a panel will fly open, revealing a lost Titian, an undocumented Goya, or a Japanese gingko-nut tycoon with an open checkbook. Collectors do not want the taxman to know how much they paid for what, and neither do dealers. The availability of a painting may be the occasion for as much conspiratorial hoo-ha and discreetly vicious elbowing as anything in the annals of industrial espionage...
...relatively low price? One possible reason involves the offer of both the Rousseau and the Van Gogh to Italian Auto Tycoon Giovanni Agnelli. Agnelli also happens to have an interest in Marlborough, a firm that -under the guidance of Frank Lloyd, a dealer of legendary if unloved astuteness-has in the past decade become the world's richest gallery complex, with main offices in New York, London and Rome, a branch in Tokyo and a network of holding companies in Liechtenstein. Fiat had agreed to design and build four air-conditioned "Artmobiles" equipped to carry shows all over...
...Book Award (for Steps) and who is now a professor of prose and criticism at Yale. Kosinski's hero, Jonathan Whalen, is sole heir to one of the nation's great industrial fortunes, and to a remarkably ordinary set of psychological wounds. Whalen's father, a tycoon now dead, gave his son insufficient attention, and seems thereby to be the villain of the story-unless the villain is the new industrial state, or Western civilization itself...
When does a pastime become a life-sustaining passion? For Yachtsman Cornelius ("Kees") Bruynzeel, a Dutch timber tycoon, it began when he set his first sail at age five. Now, at 73, Bruynzeel still has an acute case of sea fever. But it is tempered by a serious heart condition. Nonetheless, he was determined to enter this year's prestigious Capetown-to-Rio yacht race if it killed him. The 3,500-mile ocean grind might do exactly that, Bruynzeel's doctors warned; they ordered him to remain on the dock. He refused, explaining that a bracing...