Word: bearish
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...bell ringer are up. The N.Y.S.E.'s Bob Zito, who filters the requests, says the first five months of 2002 are almost booked. As a courtesy, Zito will call the volunteers on a bad market day to let them bow out, rather than be publicly tarred with a bearish brush. (President Clinton never rang the bell; his advisers warned him that the image would be replayed endlessly if the market dropped.) But while ringing was once limited mainly to heads of state and tony Wall Street types, things have got loosey-goosey lately. Since Sept. 17, when a phalanx...
...before the World Trade Center attack, someone had a bad feeling about American Airlines. Chicago's options exchange usually gets bullish and bearish orders in equal numbers, but on Sept. 10, there was heavy betting that American's stock was headed down. On the first day of trading after the attack, the company's stock plummeted 40%--and the investors who guessed right made millions...
Person of the Week RECIPE FOR GROWTH Derided over a failed bid for PricewaterhouseCoopers, Hewlett-Packard chief Carly Fiorina served up an even tastier treat: a $25 billion merger - the industry's largest - with rival Compaq. Too bad that a bearish Wall Street quickly took one-fifth off the deal's value...
...that it's a rally, exactly - even those modest gains were eroding as noon approached - but clearly something happened besides Alan Greenspan's bullish comments on free trade before the Senate (although a brief mention of the slowdown, with no bearish comments along with it, may have played a tiny part). TIME investing columnist Dan Kadlec has a few ideas...
...still lose that vote. But he's no longer losing the confidence of investors. Yes, he turned bearish on stocks too early, but "he's ahead of benchmark," which is up 17% a year over six years, says Britt Harris, president of Verizon Investment Management, which has $1.5 billion with Biggs. "I know he struggled with his view," Harris adds. "To his credit, he stuck with...