1.   A spate of initial offerings of closed-end municipal bond funds is hitting the markets, and that may spell opportunity for investors hungry for tax-free yields.

2.   All that spells opportunity for financial guarantee companies that insure asset-backed bonds and for commercial banks that provide letters of credit for convertible bonds.

3.   All of this posing in the culture at large has spelled opportunities for bona-fide, high-profile surfers like the Paskowitzes.

4.   But for me it also spells opportunity.

5.   But these fears can spell opportunity.

6.   For managed-care plans such as health maintenance organizations, the Medicare proposals spell opportunity.

7.   For tax-aware investors, this flexibility spells opportunity.

8.   Friedman said other combinations between banks and brokerages would spell opportunity for his Rosslyn, Virginia-based investment bank.

9.   Such a prediction spells opportunity for companies like Mainspring Communications of Cambridge.

10.   Such fund flows spell opportunity for the companies that can keep up, and the managers and executives who can deliver.