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Some investors are so keenly aware of this tendency to get spooked by market mayhem that they view their own fear as a sign that things are about to turn around and that it's time to buy. Jeff Vinik, a legendary investor in the U.S., once told me: "I'm scared at almost every [market] low. And I try to remember, when I'm really scared, that we're getting real close to a good low." Zweig cites another renowned investor, Brian Posner, who quips: "If it makes me feel like I want to throw...
...happy to see that such a highbrow publication deigned to write about the passing of the Weekly World News, a tabloid that will truly be missed by individuals stuck in the checkout line [Aug. 27]. But I disagree with Joel Stein's claim that it's "a sign of progress for a society to go from inventing gods and monsters to seeking catharsis in the real life of Paris Hilton." That's as laughable as Bat Boy running for President. The Weekly World News lost readers because people turned to the Internet. Instead of waiting for a weekly paper...
...disobedience against British colonialists. Buddhist clergy were also at the forefront of mass protests in 1988, which ended when the army gunned down hundreds of peaceful protestors and declared martial law. So far, the military has avoided firing directly at the monks. But with these spiritual warriors showing no sign of giving up their cause, a violent confrontation may be unavoidable...
...Bering Strait, has charted the sea floor with a multibeam echo sounder to delineate where Alaska's continental shelf ends and the depths of the Arctic Ocean begin. But to press its case for extended territorial waters, as the other Arctic nations are doing, the U.S. needs to sign the convention. Some conservatives have always depicted the treaty as a no-win giveaway of U.S. sovereignty that would cast the baleful shadow of "world government" over the high seas and that might, for example, bar the U.S. from interdicting ships suspected of terrorist ties. Given the Senate's rules, opponents...
...Until Monday's grand gesture, the more the authorities tried to sooth, it seemed, the greater the panic. With no sign of the run on Northern Rock ending - savers have so far yanked out well over $4 billion - the panic began to spread. Alliance & Leicester's stock plummeted by almost a third on Monday despite a statement insisting its business was solid; shares in Bradford & Bingley dropped by 15%. Desperate to restore order, the U.K. Treasury put its own money (meaning the public's money) down. "I want to put the matter beyond doubt," Darling said. Customers' cash held...