Word: dows
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Dates: during 1990-1999
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...YORK: So what was it? Not a crash. Not even a panic, really. But when a scare in Hong Kong wafts west and sends the usually buoyant Dow plummeting as much as 230 points from the opening bell, something significant may be afoot ? even if things did settle in at down 186.88 by closing time...
...news for small investors is the same old buy-and-hold; once the big cash is back at home, the U.S. markets will stabilize. Indeed, by closing Thursday, there were signs this had already begun. But if the bears don't scatter, and suddenly the Dow's closer to seven grand than eight, listen to Kadlec: "That could be a heck of a buying opportunity...
Then, as now, the Dow Jones averages had been gyrating wildly. Then, as now, the market was overvalued on an earnings basis, meaning that people were paying way too much for future earnings versus what they had paid historically. Then, as now, foreigners were buying like mad, and we know they are always late to the party...
Patricia, do you remember--does anyone?--Oct. 19, 1987, that lose-your-lunch Monday 10 years ago this week when the Dow Jones industrial average plunged 23% and sent shrieks issuing from the canyons of Wall Street? A similar crash today would take the Dow from 8000 to 6160 in a single day. It would hack your mutual-fund balance from...
...turned out, the '87 carnage was quickly repaired and never did ripple in a way that would curb consumer spending and dampen the economy, as many feared might happen at the time. Just two years after the crash, the Dow was setting records again and the investing public had learned, rightly or wrongly, to buy when the market drops. The bigger the decline, the greater the opportunity. So goes the dogma of the day, and it is ironic that the greatest one-day plunge ever--the 1929 crash was a mere 12%--was the springboard for today's equity culture...