Word: mutuals
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Never before have stocks been so important a form of wealth for so many Americans, whether they hold shares directly or through mutual funds and 401(k) accounts. Forty-three percent of adult Americans hold stocks, the broadest ownership ever. And Chris Varvares, president of the forecasting firm Macroeconomic Advisers, traces more than one-third of the growth of consumer spending last year directly to the wealth effect. Economists calculate that investors tend to spend about 4 [cents] of every dollar they gain in stock-market wealth...
...dozens of impressed entertainers want to play that venue. Don't look for them in any concert hall, though. The show consists of a financial maneuver that, if bankers get their way, will explode in popularity in the next year or two. It could spawn a new type of mutual fund that fans might find hard to resist...
...than comparable (single-A) corporate bonds. The rate on the deals so far has been 7% to 8%. For now, such bonds are suitable only for insurance and pension-fund managers. But, says Pullman, "we're working out the kinks." Their star power could make for a popular bond mutual fund. Now that's entertainment...
Consider a stock or mutual fund in which you invest $100 a month at a starting price of $20 a share. After one month, the price is $25, a month after that $10, then $30, $15 and, finally, right back at $20, where it stays for a month. No gain after six months, you say? True, the stock is where it was when you started buying: $20. But because you invested $100 each month, you would have accumulated 34 shares at an average price of just $17.65, and be up by the annual equivalent of 27%. That's the magic...
...other averages and indexes. You have to forget whether the market is rolling over or about to dive 1,000 points. In fact, you have to forget about "the market" altogether and remember that you're buying stocks of individual companies--or, if you're in mutual funds, that you're paying a manager to know and buy those companies...