Word: marketic
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After that boom came to a crashing end in 1929 and the market continued to implode in 1930, '31 and '32, this theoretical underpinning at first seemed to have been demolished. The idea that stocks could be good investments became a joke and remained that--in the popular view, at least--for decades. Yet whenever anyone in later years re-examined the data on stocks' long-run performance--major scholarly studies on the topic were published in 1938, '53, '64 and '76--they reached the same conclusion Smith did. Even with the dire experience of the early 1930s factored...
...found stocks winning by a mile for almost every 30-year period over those two centuries, became a must-read for investors. Siegel--a professor of finance at the University of Pennsylvania's Wharton School--became what one journalist described as "the intellectual godfather of the 1990s bull market...
...reputation. That's partly because his book (the fourth edition of which was published last year) is full of warnings that when he says long run he really means long run--say, 20 to 30 years. It's also partly because in March 2000, just as the stock market was peaking, Siegel warned in a Wall Street Journal Op-Ed column that technology stocks were headed for a precipitous fall. But it's mainly that, despite the market carnage of the past year and decade, Siegel's basic argument that "stocks will remain the best investment for all those seeking...
Sure, there are some market seers convinced that Siegel and his work will eventually be consigned to the dustbin of history--because they think the U.S. economy has entered into an inexorable decline. But among Siegel's fellow finance wonks, the debate isn't about his basic premise. It's about the lessons the rest of us should or shouldn't draw from...
GILLETTE and SCHICK enter the personal-topiary market...