Word: internetted
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Dates: during 1990-1999
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...While an ongoing bull market has lulled us into a sense of security about investing, the reality is we are taking greater risks with our money than any other generation in American history. Many of us even take this a step further, buying "speculative growth," i.e., highly risky Internet and technology stocks, breezily ignoring the potentially precipitous downside...
...have headed to Wall Street or Main Street, there is a predilection to spurn Goldman Sachs and Procter & Gamble in order to take a flyer on striking it rich quickly in dot.com land. "I didn't want someone in 20 years to ask me where I was when the Internet took off," says Greg Schoeny, a recent University of Denver M.B.A. who passed up opportunities with established technology firms like Lucent to work at an Internet start-up called STS Communications. Schoeny is a double-dare sort who also likes to ski in the Rockies' dangerous, unpatrolled backcountry...
...they realize that you're talking about a bear-market harbinger that worked in the '80s. For this is a new age, and if anything is deadlier than a kid story among adults, it's a cautionary tale of how the stock market behaved in the pre-Crash, pre-Internet, it-may-as-well-be-prehistoric...
...stocks and other investments that make the most sense. When interest rates are rising, the last thing you want to own is banks and brokerages, whose cost of money goes up and whose lending and other businesses tend to slow. You also want to avoid highly speculative (read Internet) companies with little or no earnings. Even steady growth stocks like food and beverages tend to lag as their earnings cheapen in an inflationary climate. Fixed-income investors should avoid longer-term securities because prices fall as rates rise, and if you have to sell before a bond matures, you could...
...that seems to be the smartest play. Inflation worries have driven growth stocks, including Merck and Philip Morris, 20% lower. Some tech stocks (AT&T) are way cheaper too. Internet stocks, if you're so inclined (I'm not), have fallen even more. Yet the Fed has had the right answer for every new-age inflation scare. Why bet against Alan Greenspan now? It could be that the new era deserves a new truism. Forget stumble. Call it three steps and a start...