Word: vanguardism
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...only now plunging into hedge funds. Top hedge funds are often closed to new investors, meaning that newcomers are apt to get worse-than-mediocre performance while still paying 1% or 2% of assets and 20% of the profits to the managers. There is a cheaper alternative: just as Vanguard launched the first stock-index mutual fund in 1976, Wall Street firms are beginning to offer low-cost funds that mimic common hedge-fund strategies. The first get-together of this nascent "hedge-fund replication" industry is happening this month in London (official slogan: The clones have landed). Mediocrity doesn...
...Apple Chairman Steve Jobs gleefully proclaimed last week at the MacWorld Expo in San Francisco. Maoist China had Little Red Books, Jacobin France had Phrygian Caps; Any doubts about the icon by which our age will be remembered have surely now been dispelled with a Multi-Touch click. The vanguard of cell phones, laptops, and music players have finally achieved the sleek unity that is the iRevolution’s ultimate victory. And this revolution occurs at the crucial intersection of our crazed gadgetphilia and our intensifying demand to pump maximum efficiency into and out of every moment. The epic...
...buzz with a discussion of why allowing lambs to graze on grass is not only better for the environment and for the animals than grain feeding them, but produces more succulent meat. And Santi Santimaria, of Barcelona's Can Fabes, reproached his colleagues for their constant pursuit of the vanguard. "We're a gang of frauds who work to distract snobs," Santamaria said, before issuing his own manifesto: "The only truth that matters is the product that comes out of the earth, passes through the ovens to the mouth of the eater, and is then defecated...
...rise about 5% against the dollar over the past 18 months. That makes Chinese goods more expensive in America, and the pinch is already being felt by some of China's manufacturers of textiles and other low-end merchandise. The annual trade fair in Guangzhou, a city at the vanguard of China's march toward capitalism over the past two decades, was overcrowded as usual last October with prospective foreign buyers of toys, clothing, shoes and handbags. But there was a difference, say businessmen who attended. "A lot of purchasers came to negotiate, but they didn't want...
...know that the party membership doesn't deform the will of the party's broader electorate," said party official and National Assembly deputy Bruno Le Roux. "We've become a real party grounded in its milieu." Maybe so. But that's a very different thing from a vanguard leading the workers forward into a new world. A Le Monde reporter captured the change perfectly by quoting a 45-year-old woman voter who blew up when the secretary of her party branch in Paris addressed her in the traditional leftist vernacular. "And why are you calling me 'comrade'?" she said...