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...have good reason to apply the brakes. In frothy markets, investors tend to form unrealistic expectations about companies' prospects because they buy into an ill-founded theme, whether it be consumer demand for tulip bulbs or, in this case, the notion that China's economic growth is boundless. David Webb, an independent investor based in Hong Kong, says that's what's happening with many China stocks. "Once you get past the hubbub, the fundamentals behind these prices just aren't there," Webb says...

Author: /time Magazine | Title: Taming China's Dragon Market | 2/1/2007 | See Source »

...stock's P/E ratio measures the amount investors are paying for every dollar of per-share earnings). That's a richer multiple than investors are shelling out for fast-growing Google, the investing world's flashiest Internet phenomenon. Nor are high prices confined to just a few Chinese stocks. Webb estimates the average P/E for so-called "A" shares (stocks available to mainland investors on China's Shanghai and Shenzhen bourses) at 34; the current P/E for U.S. stocks in the S&P 500 Index is 18. Want more proof? According to a recent report by investment bank JP Morgan...

Author: /time Magazine | Title: Taming China's Dragon Market | 2/1/2007 | See Source »

Beijing may have good reason to apply the brakes. In frothy markets, investors tend to form unrealistic expectations. They buy into an ill-founded theme, whether it's about future demand for tulip bulbs or, in this case, the notion that China's economic growth is boundless. David Webb, an independent investor based in Hong Kong, says that this is what's happening with many China stocks. "Once you get past the hubbub, the fundamentals behind these prices just aren't there," he notes...

Author: /time Magazine | Title: China: China Braces For A Bubble | 2/1/2007 | See Source »

...aching to flex their muscles. Labor chairman Edward Kennedy wants to write a "clean" bill raising the minimum wage, but Reid doubts it could pass without including tax breaks for business that Republicans are demanding. Even Reid's freshmen are uppity. When he called Virginia's Senator Jim Webb to inform him of his committee assignments--the standard backwater spots that junior members are usually consigned to--Webb demanded "A" assignments on both Armed Services and Foreign Relations. Since Webb's surprise victory gave Reid his majority, Webb got what he wanted...

Author: /time Magazine | Title: The Democrats' Inside Man | 1/12/2007 | See Source »

...overblown. Those who are ill at ease in today's Russia for whatever reason can choose to live and work abroad (indeed, many of Putin's critics have decamped to London); an earlier generation could only dream of such freedom. Still, Kondaurov's feeling of claustrophobia - what Victoria Webb of Amnesty International describes as "the shrinking space for individual voices in Russia" - now appears to be widely shared. This year, Stanislav Dmitrievsky was prosecuted and saw his human-rights group, the Russian-Chechen Friendship Society, closed down after its newsletter reprinted speeches by Chechen separatist leaders. Amnesty International contends that...

Author: /time Magazine | Title: Russia's Bitter Chill | 11/26/2006 | See Source »

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