Word: gloom
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...stealth recovery that began almost two years ago has finally become evident with last quarter's surprisingly strong 2.4% GDP growth rate. It's also apparent in the panic prevailing in the gloom-loving bond pits on Wall Street, where traders have sent long-term interest rates soaring. With times getting better, you would think investing would be getting easier. But nothing looks cheap. Even after steep declines, many stocks remain expensive relative to earnings. Bonds are a death trap during periods of faster growth. Real estate never fell. Money-market yields barely cover a fund's expenses...
...sound of lucky breaks and happy coincidences. Like the time last year when, after three years of being ignored by record companies, the Thrills' demo tape suddenly sparked a bidding frenzy that led them to Virgin Records. Or the time that same demo landed in the lap of Mancunian gloom-rocker Morrissey, who invited them to play their first London show - opening for him at the prestigious Royal Albert Hall last September. Although Deasy insists "it's the lazy assumption that this is just a summer album," these tunes wouldn't sound quite right on a rainy day. Take...
Barton Biggs, chief global strategist at Morgan Stanley, says he sees too much gloom and doom even among professional investors. He expects consumer cyclical stocks to do well in the U.S. and Asia. Among stocks that Morgan Stanley has lately favored are U.S. consumer cyclicals Best Buy and Home Depot. The firm also likes techs, including Microsoft and Applied Materials, and industrials--Lockheed Martin, CSX--as a play on U.S. growth...
...year are meant to be a celebration of the culmination of four years of hard work, long hours, response papers and problem sets. But this spring, some seniors charge, a disappointing Senior Soiree and a controversial ticket allocation scheme for a Red Sox-Yankees baseball game have brought more gloom than gaiety to the conclusion of the Class of 2003’s college careers...
...After war broke out, a perceptible gloom descended on the ship, so the master ordered a party, a barbecue on the portside deck. Victor outdid himself, orchestrating a splendid, meaty feast with all the fixings. He consulted me, as the ship's temporary resident Texan, for advice about making barbecue sauce; in the end, he stretched it with leftover watermelon. (Strange, but perfectly good form: as any Texan will tell you, you can throw whatever you like into a barbecue sauce...