Word: stockely
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...down, even if he can no longer work at his own office. The impasse has brought parts of the country to a halt. PAD mobs forced three airports in key tourist areas to shutter, and strikes in support of the opposition have hampered rail services. The country's benchmark stock index has dropped nearly 25% since the protest movement began in late May. In the heart of Bangkok, pro- and anti-government forces are teetering on the edge of an armed conflict in which any implement - sticks, knives, even the odd golf club - can be used against a political enemy...
...Adore the Snore I enjoyed your piece "The Snore Wars" [Sept. 1]. I would like to share a remarkable discovery I made while traveling the country for several months a year selling Australian Stock Saddles and sharing hotel rooms with a male colleague with a snore like an outboard motor. You cannot win a snore war by fighting the noise. But you can win by embracing the sound. Simply set your breathing rhythm to the rhythm of the snore, and the sound becomes a sleep aid. Now I like it when my colleague goes to sleep first because I fall...
Considering the Yale professor's recent publishing history, this is quite a relief. In March 2000, as stock prices soared to record levels, Shiller released his first general-audience book. Titled Irrational Exuberance, a phrase borrowed from a 1996 Alan Greenspan speech, it made the case that stock-market investors tend to go mad every few years--and that they were at the time in the grips of perhaps their worst psychotic episode ever...
That month, stock prices started to fall. The slide continued for 2 1/2 years. Then, for the second edition of Irrational Exuberance, published in February 2005, Shiller added a chapter on real estate. His argument: House prices had followed the stock market into a flight of fancy that was bound to end badly...
Shiller spent much of his early academic career--he earned a Ph.D. from MIT in 1972 and has been teaching at Yale since 1982--making the case that stock-market prices jump around more than is warranted by economic fundamentals. This may sound obvious, but it was for a time heresy among finance scholars, who believed markets were paragons of informed rationality. Since then, the academic consensus has shifted in Shiller's direction. But identifying exactly when prices have gotten out of hand isn't easy...