Word: indexable
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...markets are now closed after the first day of trading since last Tuesday’s tragedy, and economic analysts have breathed a sigh of relief. Though the 680-point drop in the Dow Jones Industrial Average was the largest in the history of the index, it was much smaller in percentage terms than the crash of 1987—which did not bring substantial economic distress. The financial world experienced severe personal and physical loss in the terrorist attack of Sept. 11, but like the country as a whole, it seems intent on rebuilding and moving forward...
...Companies that harvest trees for lumber are amassing impressive records on the Street. Returns on timber investments were up 4.2% last year, while the S&P sank 9.1%. In the past 30 years, the annual average return on timber was 15.2%, against 13.2% for the S&P 500 index. Behind the strong performance: a resilient home-building sector. If housing stays strong, so will timber. As there's no mutual fund that's a pure play on timber, investors need to seek out specific companies, like Plum Creek Timber (PCL, up 10% this year) or Rayonier...
Merrill Lynch U.S. Treasury Inflation Link Index 8.51% Merrill Lynch U.S. Treasury Master...
...campaigning for parliamentary elections in July, the Japanese Prime Minister won over voters by giving them bad news, straight-up: the country's ailing economy would get a lot worse before it got better. Well, last week lived up to Koizumi's predictions, in spades. The benchmark stock market index sank to its lowest level in 17 years, new numbers showed that industrial output and retail sales are slowing more dramatically than expected and, in the unkindest cut of all, credit rating agency Moody's said it might downgrade Japanese government bonds to the same level as Slovenia's. Slovenia...
...Seem" is the operative word in that sentence, of course, and many a visitor will tell you that Japan has mastered the art of not appearing to be worried by burying its collective head in the sand; last year alone, after all, the Nikkei index lost a quarter of its value. The maintenance of an upright, even upbeat public face is part of what has led generations of outsiders to talk of "inscrutability" (a nice word for insincerity) and to ask if smiles, in this proud and often aggressive country, are not just a way of keeping tears...