Word: marketization
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Dates: during 1990-1999
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...ended its week at 7640.25, it was approaching one of the standard benchmarks for a bear market: a 20% drop from a previous peak. Many investors, though, have been in a quiet bear market for several months; that's because, during the last stages of the run-up in the Dow and the S&P 500, most of the increase was accounted for by such large companies as Coca-Cola and Microsoft; many smaller stocks were left behind. In the S&P 500, virtually all the gains in share prices in recent months were made by the 50 largest...
Several economists see the current market as an untraditional bear market or, as Harvinder Kalirai, an economist at the consulting group I.D.E.A., sees it, what's happening on Wall Street is "a cyclical bear in a secular bull market. This is a cyclical fluctuation." The longer-term or secular trend in the market, though, "is still higher...
Many individual investors also hold that faith. Dennis Lese, 52, an executive with Amoco Corp. in Chicago, says that he is staying in the market but that the six-figure losses he suffered last week have caused him to postpone his planned early retirement. "I was thinking about retiring and living off stocks," he says. "But now I think I'll work a few more years...
Others seemed content to ride it out, in the knowledge that the gains of the past few years will cushion the impact of a down market now. "Anyone with brains knows the thing to do is to sit back and wait," says Stephanie Rubin, 52, an executive with a search firm in Chicago who has about $300,000 in stocks. "If it's down 25% on paper, it doesn't bother me because it's money tied up in an IRA account. I'm not going to touch this money till...
Some people who were actively playing the market, however, were singing a different tune. "I was panicking," said Alan Herkowitz, 39, a New York systems analyst and a self-described "short-term trader" who invests "play money" in the market...