Word: cnbc
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...about done raising rates, which could be soon, market psychology will improve. But the way the economy is growing, there's a good case for rate increases extending well into next year, and that's a bear-market recipe. In such a period, better turn off CNBC and quit reading the stock tables. Stay diversified. Keep contributing to your 401(k) plan. Dollar-cost-average into favorite blue chips and funds. In five years, you'll be happy you bought cheap. Investing is a long-term game. That's been easy to forget. But now it's impossible...
Alan Greenspan's implacable program of interest rate hikes may have its disbelievers in Congress and on the CNBC pundit scene, but the financial markets are not among the heretics. So it was that Wall Street continued to rally as the Fed voted to raise short-term rates not just 25 but 50 basis points at its meeting Tuesday, the latest attempt to hamstring the swaggering U.S. economy just enough to keep inflation at bay. Businesses, especially capital-intensive ones like the dot-coms, have no love of more expensive money. But Father Greenback has sold the markets...
...even with stocks swinging like Tarzan on amphetamines, you're not doomed to smack into a tree. The trick: turn off CNBC, stay diversified and don't stray from autopilot investing programs like 401(k)s, IRAs, college funds and dividend-reinvestment plans...
...precede a sharp run-up as a sharp decline. If you're invested for the long haul, why put yourself through the agony of watching short-term declines--especially ones as steep as last Friday's--that tempt you to panic? I don't mean to pick on CNBC. But it's the market leader in televised stock talk, and when the market is sinking, the anchors' grim faces and funereal tones only quicken your despair. Once weaned from hourly updates, you'll find it easier to hold fast to proven long-term strategies like broad diversification and dollar-cost...
...worked. What emerged over the next two years was a hypersmart and sassy voice that does for Silicon Valley and Alley what CNBC did for Wall Street. Knowing what you're talking about counts for a lot in a world of shrieking dotcom hype, and the Standard cut through the noise with speed, exuberance, minimal jargon and a dash of self-deprecating humor. Advertisers ate it up, and the Standard got very fat very quickly. Issue No. 1 had an anemic 25 pages of ads; now they frequently top 200. Ad revenues rose from less than $2 million...