Word: bulls
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Dates: during 1990-1999
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...Here's why: as these wildly various institutions scramble for business, more and more of the wealthy are availing themselves of sophisticated tools that can be used--often legally, sometimes not--to avoid taxes and potential claimants. In the U.S. alone, thanks to the vibrant economy and the long bull market in stocks, more than 2.5 million households now boast investable assets of more than $1 million, up from 2 million households in 1995. "This market is exploding," says Mark Stevens, president of personal financial services for the Northern Trust Co., based in Chicago. He notes that while...
...year of the riots. Not old enough for an anniversary, the remains lie unexcavated in the rubble of more recent crises. So at Harvard in the fall of 1998, pictures of that familiar smoke-darkened sky are like fresh posters for last month's bull-fight. We thought El Terror had been killed in the ring, and so the familiar image is like seeing a ghost. Things aren't so finished as they seemed...
...households now invest, compared with only 16% in 1945, and mutual funds alone hold more of America's financial assets than banks do. Indeed, a strong argument can be made that the small investor, far more than the professional trader, is the true foundation upon which the modern bull market has been built...
Astute risk takers and charismatic salesmen like Ling, Bluhdorn and Geneen were among the first to see the opportunities. The bull market that began in 1962 was kinder to some companies than to others, leaving many quality firms relatively undervalued and thus takeover targets. "We had a lot of different sources of financing," says Ling, 75, of LTV, in its heyday the 14th largest company in the U.S. "But we usually swapped our companies' stock for [that of] the firms we were buying...
When the 1980s and '90s turned into the age of personal investment--courtesy of the 401(k)--as well as celebrity capitalism--courtesy of Michael Milken's junk bonds and the bull market--MONEY was joined by a passel of rivals, including SmartMoney, Worth and Mutual Funds, each of which made the eternal promise of investment journalism--pssst, you can beat the market...