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By astute purchase from needy monarchs, the guilds 100 of them by 1400 were able to buy increasing freedom from royal intrusion in their affairs and further their self-government.
"They made a very astute purchase with Snapple, and they have halted the decline there and are repositioning Snapple to grow," said Martin Romm, a beverage analyst with Credit Suisse First Boston.
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"The majority of my wealth comes from having made astute purchases at the bottom of the market," he told me.
They now shape as a real hope after recruiting strongly, with Watson and Russell looking like astute purchases after their first outing.
The hope for Arteta and Arsenal is that Champions Leaguee football will revitalise the 29-year-old, one of Moyes' most astute purchases when joining from Real Sociedad for £2.2m in 2005.
However, other than their inaccuracy, there were signs that the new signings could prove astute purchases given more time to integrate into the side.
Known for astute debt-financed purchases.
That purchase already looks astute.
Tellabs has made several astute acquisitions recently, including its purchase of high-speed router vendor Netcore for $575 million in stock in August 1999.
The purchases of, the Astute class submarines, and the Type 26 frigates were all confirmed.
Before becoming an MP, he had been the banking pioneer Siegmund Warburg's protege and became his personal assistant, observing his astute handling of Roy Thomson's 1966 purchase of the Times.
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CEO of Professional Science Editing for Scientists @ prosciediting.com