Word: evenly
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Dates: during 2000-2009
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...facts tell the dismal story. In the 10 years ending Dec. 31, 2008, investors suffered a negative 3.15% real return in U.S. stocks, constituting the fourth worst 10-year period since 1871. Given the pummeling the stock market has taken this decade - even after this year's rally, the S&P 500 index remains 32% below its all-time high reached in October 2007 - many are now questioning whether stocks should be the cornerstone of investors' long-run portfolios...
...Furthermore, long-term growth is propelled by productivity gains, not by consumer spending. From this standpoint, the outlook for stocks is even more promising. Companies have rigorously cut costs and positioned themselves for a rapid rise in earnings once top-line growth resumes. Annualized productivity growth in the second and third quarters of 2009 averaged 8.2%, the highest six-month average in 40 years and unprecedented for an economy just emerging from a severe recession. Indeed, third-quarter profits, now being reported, are running well ahead of estimates...
...Even if it had taken aim at any truly idea-rich art, the church would do well to be wary. Nearly every time the clergy has tried to peg something as “illusory and deceitful” in the past, it’s been forced to engage in copious backtracking—picking out “good art” is always something of a dice toss. For proof, the Pope would simply have had to look up. Michelangelo’s altar fresco “The Last Judgment,” a fundamental background...
...sacrilegious,” boundary-testing works that most stretch thinking—and ultimately strengthen belief. In some sense, Benedict’s get-together did acknowledge this; if art can “enslave” us, it can also save us. (The Pope even floated the idea of a booth at the Venice Biennale next year: one can only wonder the contents of the goody bags he’d pass out.) But it takes a startling lack of faith to argue that contemporary creative acts are isolating and worthless simply because they don?...
After Yale failed to muster any sort of serious challenge against the Crimson on Friday, Harvard appeared to be in for more of an even battle on Saturday against Brown...