Word: underperforming
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...falls flat--and after a decade of false starts, it's hard to believe this economy is turning. Yet personal income and both consumer and business spending are suddenly surging, so believers are beginning to emerge. David Bowers, chief global strategist for Merrill Lynch, recently upgraded Japan from underperform to neutral. If the global recovery is strong, Japan's export businesses have a long way to rise, he reasons. He likes the banking sector most. Consider a fund like Fidelity Japan. Better to tiptoe into Japan for now. One of these days the turn there will be real...
While Newman said she had worried that the Executive Programs, which target many international students, would underperform and incur large deficits due to the war in Iraq and SARS, the school actually added some extra programs and the unit met its budget...
...studies suggest otherwise. As a fund becomes successful, it quickly begins to underperform its potential, even though it may keep outperforming its peers, according to Jonathan Berk, a business professor at the University of California, Berkeley, and Richard Green, a business professor at Carnegie Mellon University. Why? Investors inevitably flood a winning fund with cash until the manager runs out of ideas and can no longer invest as profitably as before. So it pays to get on board early...
...exports were up by 2.9%. But in 2003 the strength of the euro, which last week reached three-year highs against the dollar, will make exports more expensive. "In any global upswing," says Holger Schmieding, the London-based chief European economist for Bank of America, "Europe is likely to underperform the rest because of the currency." If you want to hear better news go to Italy, where government optimism is in overdrive. Officials there have predicted growth of 2.3% this year - although financial analysts expect the number to be closer to 1.4%. And in France, economists are equally skeptical...
...Last week a camera crew from financial channel CNBC tracked him down near his New York City residence and tried to interview him on the fly--evoking images of paparazzi stalking a movie star. "Nobody saw this coming," Grubman said, denying that his downgrade of WorldCom's stock to "underperform" the day before the firm restated earnings had anything to do with fraud rumors. Grubman, in fact, maintained a "buy" rating on the stock while it plummeted 90% from its peak in June...