Word: indexable
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...year, the Dow is down 10 percent, the biggest annual drop since 1977. The S&P 500 is off 14 percent, the most since 1974. After coughing up another 7 percent Wednesday, the NASDAQ's losses have hit 43 percent, which makes 2000 quite simply the tech index's worst year ever. For tech stocks, we're not talking bear, we're talking crash - a steady slide that started in March and is only picking up speed at year's end. All fall, traders talked about the need for "capitulation"; now they're calling it panic, and it's going...
Here's how it works: a betting firm offers a spread--the range from the buy quote to the sell quote offered by the bookmaker--on, say, what the level of London's Financial Times Stock Exchange 100 Share Index will be three months hence. Let's say the spread is 6,700 to 6,710. You think it will be a bearish market, so you sell at 6,700, at $15 an index point (the bet amount can, of course, vary). The market does indeed drop 150 points, to 6,550, and you collect $2,250 in the example...
...profit by adjusting their spreads and by constantly trading in the underlying markets to hedge clients' bets. More often than not, they come out ahead. "Last year our clients made more than they lost, yet we had a record year as well," says Michael Murray, associate director at IG Index, a London-based firm that pioneered financial spread betting 26 years ago and remains the market leader. IG Index set up shop as a financial spread-betting bookmaker, initially offering spreads on gold futures, hence its name...
...from county to county, "certification" after the vote required a different response in each county. In some, the situation demanded a simple hand count of mechanically tallied ballots to ensure proper operation of machines. In others, a committee of experts had to be called in to scrutinize "dimples" on index-card-sized sheets of paper, to assess voter intent. In a national election, there simply isn't a reason why procedures should not to be as uniform as possible across the nation or at least within each state...
Last July the University of Georgia lost a lawsuit filed by female students who were denied admission because of an affirmative-action policy that favored men. Says junior Shanna Norris, 20: "It's not fair that a boy would get extra weight [in the admissions index] over a girl, but it would be better if there were more boys on campus...