Word: putting
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...through a generational moment. Johnny Carson took over the show in Camelot-era 1962, after J.F.K. became the first greatest-generation President. Jay Leno replaced him in 1992, just before baby boomer Bill Clinton defeated our last greatest-generation President. Now, just after Barack Obama's Inauguration, NBC has put another tall, skinny young guy, Conan O'Brien, behind the desk. (O'Brien and Obama, who did a guest bit on Conan's second night, may be technically a hair shy of Gen X status - but as the saying goes in the TV biz, they skew young...
Ross is not naive; he did not think a new President - and nothing more - would be enough to persuade Iran to give up its nuclear goals. So he and Obama put together a policy they called "bigger carrots, bigger sticks." Iran would get real benefits if it halted its pursuit of nuclear weapons and incur real costs...
First, though, a little background on stocks for the long run. The notion goes back to 1922, when a bond brokerage in New York City hired Edgar Lawrence Smith to put together a pamphlet explaining why bonds--and certainly not stocks--were the best long-term investment. At the time, this was conventional wisdom on Wall Street. Bonds were for investment, stocks for speculation--and, in those pre-SEC days, for manipulation. But when he investigated the historical record, Smith recounted later, "supporting evidence for this thesis could not be found." Instead, he discovered that over every 20-year span...
This wasn't because stocks were a horrible investment during that time--$1 put into stocks in March 1969, with dividends reinvested over the years, was worth $280 after 40 years. But bonds did even better ($1 to $294). Siegel, who has debated Arnott on CNBC and elsewhere, sees this as evidence that bonds are now too expensive rather than an argument against stocks--and Arnott doesn't entirely disagree. "I'd hate to have people read that and construe that bonds will win over the next 40 years," he says...
...believed Allah had daughters, Muhammad couldn't now embrace the idea that Jesus was God's son. But he came close. He said Jesus was "the Messiah ... the Messenger of God, and His Word ... a Spirit from Him." God, according to the Koran, gave Jesus the Gospel and "put into the hearts of those who followed him kindness and compassion...