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...after the crash, most of those preferred shares seemed so cheap that Graham couldn't bear to part with them, he wrote in his memoirs. They kept falling, and his profit soon turned to a loss. His fund (equivalent to a modern hedge fund) ended the year down 20%. In 1930 it dropped 50.5%; in 1931 16%; in 1932 3%. "The stock market," as Graham resignedly put it in the first edition of his book with David Dodd, Security Analysis (1934), "is a voting machine rather than weighing machine...

Author: /time Magazine | Title: The Dangerous Temptation of Super-Cheap Stocks | 10/23/2008 | See Source »

...very much in the air. The doctor, a former Pathet Lao guerilla who happens to have studied medicine in Paris, has been pressed, with much grumbling, into service as a coroner. Politics rudely intrudes when a body arrives in his morgue booby-trapped with a live grenade. Dr. Siri soon finds himself untangling a mystery involving Hmong insurgents, a possible demonic possession, and a plot by a female terrorist known as the Lizard, who plays Moriarty to his Holmes. As in the previous Dr. Siri books, the plot is mostly a pretext for a leisurely stroll through Laos' history...

Author: /time Magazine | Title: Bodies of Work | 10/23/2008 | See Source »

...their leaders. Sometimes this pride manifests itself as old-fashioned nationalism. But more usually it shows itself as a demand for recognition, for - to use that phrase again - just deserts. To be sure, Chinese leaders will often tell you that in some ways, great power status has come too soon to them, that they do not yet have the skills or expertise to handle difficult diplomatic challenges. But though modern Chinese will often ask for understanding, they will always ask for respect. They think they've earned it. And they're right...

Author: /time Magazine | Title: America: The Lost Leader | 10/23/2008 | See Source »

...monopoly of wisdom; one that recognizes that the world has changed; one that does not argue that simply because America was founded on a great idea 232 years ago, it has a moral superiority over everyone else today - is an America to which others would listen. We will soon know if such an America is taking shape...

Author: /time Magazine | Title: America: The Lost Leader | 10/23/2008 | See Source »

...states as well. Republicans finally found a message to sink their teeth into, going after Obama's remark to Joe the Plumber that he wants to "spread the wealth around" with his tax policy and Joe Biden's suggestion that a President Obama would face a foreign crisis soon after taking office. The attacks didn't transform the race, but the rare Democratic missteps were efficiently exploited by the GOP. Republican strategists are worried about the spillover effect of all the new voters Obama's campaign has registered on down-ballot races, particularly in areas with large African-American populations...

Author: /time Magazine | Title: The Page | 10/23/2008 | See Source »

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