Word: dows
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Dates: during 1990-1999
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...Short a stock at 40 that drops to 30, and you've made ten bucks. It may be too late to short United Airlines, which dropped from 294 to 140 before news of the latest buyout plan (you'd have made $15,400 shorting 100 shares), but with the Dow Jones industrial average only 4% below its Jan. 2 all-time high, there's still plenty of room for stocks to fall...
Granted, in a bear market almost all stocks fall. But how sure are you we're in for a bear market? Or that a good deal of the damage hasn't already been done? (The Dow is near its all-time high, but many lesser stocks are off 20% or more.) "Our Fund Timing Index has risen to its highest and most bullish level in history," reported a recent issue of Norman Fosback's Mutual Fund Forecaster, which looks for a 32% rise in the market over the next twelve months. Sure, Wall Street seems gloomy these days, says Fosback...
...Federal Trade Commission has started looking into other manufacturers' degradability claims as well. Barry Cutler, director of the agency's Bureau of Consumer Protection, says "several major companies" besides Mobil "have advised us they will stop making environmental claims." Dow Chemical has reportedly removed such labels from its Handi-Wrap plastic wrap...
...more than 1 million investors, Peter Lynch was a magician, a modern alchemist who transmuted their modest savings into solid wealth. Since Lynch began running the then tiny Fidelity Magellan fund in 1977, its shares have surged 25-fold in value -- far more than the fourfold gain for the Dow Jones industrial average during the same period or the increase for any other mutual fund. Lynch, 46, built Boston-based Magellan from a $22 million operation into a $13.3 billion monster, the world's biggest and most celebrated fund. And he did it the old-fashioned way, through 13-hour...
...industry. A handful of securities firms control most stock trading, the theory went, and they would be able to prop up prices should any serious selling begin. On Black Monday in 1987, such intervention helped keep Tokyo's losses under 15%, in contrast to a 22.6% drop in the Dow, giving credence to the notion that Japan was a special, blessed case. In the final analysis, though, the Tokyo market appears as vulnerable as any other to the laws of supply and demand. "It was a classic bubble," says John Makin, director of fiscal policy studies at the American Enterprise...