Word: bearishness
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...once given a key to paradise,? says my Iranian guide, Mehrdad, a bearish, soft-spoken man who translates Italian essayists and teaches English in Tehran, ?It was made in China, of plastic. The mullahs told us that the key would open the door to a golden palace with hundreds of rooms and a beautiful virgin in each room. You see, we were facing certain death - the Iraqis had poison gas.? Like hundreds of thousands of young conscripts in the Iran-Iraq war, Mehrdad was destined for a suicidal human-wave charge on the Iraqi lines. He was spared only...
...crime rate to the improving economy, Bloomberg has done just that. And he has done it in a post often described as the second toughest job in America--a job he inherited from the most famous mayor in the world, Rudy Giuliani, in the wake of 9/11 and a bearish stock market, no less. Bloomberg has brought an unprecedented level of efficiency and transparency to New York City government. "The best thing is, he doesn't seem to be making decisions based on a four-year calendar," says Jonathan Bowles, research director at the Center for an Urban Future...
...have seen investors more bearish than they are now, but I have never seen more angst amidst such opportunity as there is today...
...accounts for 80% of U.S. employment. Although the economy has shed 394,000 jobs since the end of January, the S&P 500 index is up nearly 8.5% so far this year, and the lowest interest rates since 1958 are keeping the housing market strong. But by Straszheim's bearish reckoning, full-year growth for 2003 may amount to little more than 2%. That could pose a problem not just for workers but also for President Bush as he gears up for the 2004 election. If things don't improve, he could be the first President since Herbert Hoover...
...Stovall points out that price-to-earnings ratios for the S&P are around 28, even in t he market's current funk; historically, the long-term average is 17 - and 13 coming out of a bear market. "The bearish view is that we're about twice where we should be," he said. "With the economy recovering and the Iraq issue resolved, I still see stocks as being a better bet than bonds or cash," he said. "But I think we're looking at something on the order of mid-to-high single digits for the next couple of years...