Word: intraday
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Dates: during 1990-1999
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...such developments are nothing compared with what's taking shape in the mutual-fund industry. Coming your way: intraday fund pricing and active trading of stock funds similar to what goes on daily with individual stocks. Already, mighty Fidelity Investments prices its 38 industry funds and their $20 billion in assets every hour, though it discourages frequent trades by assessing redemption fees. Virtually all other funds are priced just once a day, at the market close. But stepping up to twice-a-day pricing, at the least, seems likely. And with today's computing power, minute-by-minute pricing...
...excuses. There was the dubious, theoretical 10,000, reached March 12 by adding individual peak prices for each component to come up with Dow 10,043. Never mind that at no point during the day was the average near that level. Then came the modestly credible intraday benchmark last Tuesday, when the Dow briefly traded at 10,002 based on actual prices before ending the day much lower. On Friday the Dow traded well above the magical mark most of the day, only to sell off again...