Word: bulling
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Dates: during 1980-1989
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...normal way to amass a controlling majority of a company's stock is a tender offer or a proxy fight. But takeover by tender has become much more expensive because stock prices have risen more than 50% on the average since August in the ongoing bull market. The Dow Jones industrial average closed last week at a record 1226.20. Buying a controlling interest may have been possible a year ago for only a few million dollars; now the price could be much higher...
...suspect that a long-expected "market correction," or sharp drop, might be coming. Wall Street, however, has weathered a number of such pauses since last summer, and each time stocks have gone higher again. Says Robert Farrell, chief market analyst for Merrill Lynch: "Since August the pattern of this bull market has been four to five weeks of advance followed by two to four weeks of consolidation. There have been four advancing periods and four consolidations...
People can put their IRAs into a wide range of investments, including bank accounts, insurance annuities or credit union plans, but many have been attracted by the bull market and gone to Wall Street. At the Boston-based Fidelity Group, for example, consumers put two-thirds of the 35,000 new accounts that arrived during the week of April 15 into stock market funds. Says Susan Clapsaddle, market manager for group retirement plans: "The money just keeps rushing in.' Small investors seem particularly at traded to the market at present. Millions of them stopped putting money into stocks during...
...chance. He intends to wait instead for the market to fall and then transfer some additional savings into stocks. Says he: "I'm holding out for a correction, but there's no question that I will switch once it comes, because I'm expecting another bull run after that." The latest rise has persuaded some analysts that the best of times may now be over. They argue that the biggest bargains have already been snapped up. Says Prudential-Bache's Yardeni: "So far this market has made everyone look like a genius, but from here...
...biggest celebrations after earnings reports were announced occurred on Wall Street. The bull market has pushed up trading volume and the level of broker commissions. Paine Webber's earnings rose 525%, to $23 million; E.F. Hutton's increased more than twelvefold; First Boston's jumped 81%. After more than two years of mostly terrible corporate profits, last week's earnings results signaled that the worst of the recession is over...