He hoarded cash in good times, spent it in bad times and stayed frugal.
In bad times, she says, the rule sends balance sheets into an overly steep decline.
Yet Iran, vast and restive, had a way of revealing itself, even in bad times.
In fact, Google's good news in bad times may be based in a bigger trend.
But in bad times, shares are harder to hedge and less easy to sell.
Banks typically do very well in good times, and very badly in bad times.
It generates very high returns, even in bad times, and it has very good margins.
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It did not happen in good times, so now it must in bad times, declares one Eurocrat.
Even in bad times millions of jobs are created, just as in good times millions are destroyed.
Margins high enough to build muscle in good times, and maintain at least some profitability in bad times.
But it is a risky strategy, because they can also lose a lot of money in bad times.
Barron's once questioned how Madoff could do so well even in bad times.
In return for taking a chunk of the profits in good times, shareholders get wiped out in bad times.
Under it, governments get more flexibility in bad times but they are meant to show greater discipline in good times.
In bad times they keep between 10% and 15% of their portfolios in cash to meet redemptions if they occur.
Thank you very much for all your support, even in bad times.
Biology may also be responsible for worsening market sentiment in bad times.
Big stores, with economies of scale, still make sense in bad times.
Women are far more supportive of increased spending on welfare, education, and healthcare and overall support a bigger safety net in bad times.
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It might discourage governments from loosening their belts in good times, as well as encouraging them to tighten their belts in bad times.
Institutions, they think, will take a longer-term view, and so not upset their trading strategies by pulling out their cash in bad times.
Higher capital requirements would put more of the shareholders' money at risk and, crucially, enable banks to absorb more losses in bad times.
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Ms. PETERS: Banks tend to have emotions very much like the market, where they tend to overshoot in good times and overshoot in bad times.
But in bad times, investors cannot grasp the full extent of the banks' exposure, and when they cannot understand, they do the prudent thing and sell.
Thanks to the diversification made possible by the Internet, the rewards will go to those who assume the risk of doing badly in bad times.
One reason is that although it may be easy to increase public spending in bad times it is hard to reduce it when the economy revives.
Euro-area fiscal rules could also allow governments to spend more in bad times as long as they save more in good times, said Harvard University economist Jeffrey Frankel.
It is comforting to know that Mr Bush is being advised by someone who is thinking seriously about what to do in bad times as well as good.
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