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Good day, Bad day
Short sellers, Meritocracy
 

GOOD DAY FOR: Short sellers, after the Strunk Short index jumped 10.47 percent in June, signalling the best month since March 2001 for betting against the market. The index rose 19.34 percent in the first half of 2008. (MarketWatch)

BAD DAY FOR: Meritocracy, after new immigration rules in Britain designed to attract only highly skilled workers would exclude the founders of Microsoft, Apple, and Dell, and other entrepreneurs because they don’t have a college degree. If you’re a 22-year-old American with a bachelor’s degree and a $52,000 salary, says Sophie Barrett-Brown at the Immigration Law Practitioners Association, “you can come in, but Bill Gates can’t.” (Bloomberg)

 

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