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LEVERAGE: The use of credit or loans to enhance speculation in the financial markets. Suppose, for example, that you take the $1,000 in your bank account to your stock broker and purchase $1,000 worth of stocks, bonds, or whatever. A leveraged purchase would let you use your $1,000 to buy, let's say, $10,000 worth of stocks or bonds. The remaining $9,000 of the purchase price comes from a loan.
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SEVENTH RULE OF COMPLEXITY The seventh of seven basic rules of the economy, stating that every action in the complex world has direct and often intended consequences combined with indirect and probably unintended effects.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either a weathervane with a chicken on top or a flower arrangement with daisies and carnations for your uncle. Be on the lookout for cardboard boxes.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"There are no shortcuts to any place worth going. " -- Beverly Sills, Opera singer
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AAXICO
American Air Export and Import Company
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