Word: indexable
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Moved PermanentlyMoved PermanentlyFortune Investor DataSo why were the markets ?- led by NASDAQ, which as an index of debt-heavy tech start-ups is especially sensitive to interest rates ?- on the uptick moments after that fateful "preempt" had passed Greenspan?s lips? Because he?s going to do it only once. "A quarter-point hike, which is really nominal, has already been factored in anyway," says Baumohl. "All this talk about preemption means there won?t be a series of hikes. Greenspan is still ahead of the curve." The idea of a preventative tweak ?- and this chairman?s impeccable record says...
...stop worrying already? Everyone?s favorite harbinger of inflation, the red-breasted Consumer Price Index, is harbingering no such thing. After an April spike that put a fear of Greenspan into the markets -- a fear that hasn?t dissipated -- consumer prices in May remained flat (with only a 0.1 percent hike if you exclude falling energy prices). That?s zilch, folks. And so now it can be told: Reports of the resurrection of inflation were greatly exaggerated. "April?s rise was, as predicted, a one-time thing," says TIME senior economics reporter Bernard Baumohl. "With May?s number, the jittery...
Unfortunately for the industry, one of the most popular ideas, at least for now, is to have practically no manager at all. Nearly one out of every five new investment dollars is now going into low-cost index funds, which automatically mirror the performance of benchmarks like the Standard & Poor's 500. Already this year $18 billion has flooded into Vanguard, the behemoth that pioneered the practice. Says John Rekenthaler of funds researcher Morningstar. "Indexing is an ongoing challenge that most of the competition is not facing...
...doesn't necessarily mean it's time to leave the party. Net funds are still posting strong overall gains for '99, and some analysts last week were saying that com stocks had hit bottom. Nerves still frayed? Salomon Smith Barney just introduced a bond (pegged to thestreet.com's Net index) that lets you play the Net game with a little peace of mind. Minimum redemption upon maturity in 2006 is $9 on the $10 note, no matter how far the index drops. The flip side: if the bond is called in 2005, returns...
...kids, the end of quality time is nigh. The bigwigs at Nasdaq have set in motion a plan to conduct an evening trading session, allowing brokers and online investors alike to buy and sell the index's 100 largest stocks from 5:30 until as late as 9:00 or 10:00 p.m. E.T. "This is very much a product of the stock-crazed world that we're living in right now," says TIME Wall Street columnist Daniel Kadlec. "A bear market in the next month or two, and this plan will quietly go away -- temporarily. In the end, though...