Word: nadir
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...contracted by 2.5% or more, the average price-to-earnings (P/E) ratio of S&P 500 index stocks has dipped to as low as 10 (the long-term average P/E is 21). From where we stand today, stocks must drop quite a bit more before they reach this historical nadir. How far? Based on 2008 corporate-earnings estimates, the average P/E for the S&P 500 index is currently about 17. Factor in earnings estimates for 2009 - S&P analysts are forecasting average per-share earnings will be $48.52 next year, down from about $55 in 2008 - and stocks would...
...problems of such staggering complexity that they dwarf those confronted by any president since FDR in 1932,” which he said included “our economy in meltdown, our military stretched to the breaking point, the power of our example in the world at a nadir, our environment and our politics poisoned, our Constitution threatened, and our trust betrayed...
...when the Dow Jones industrial average declined 2% - though in fact the market had been slipping since early September. On "Black Monday" (Oct. 28), it plunged 13%, the next day a further 12%. Over the next three years, the U.S. stock market declined a staggering 89%, reaching its nadir in July 1932. The index did not regain its 1929 peak until...
...Reagan's nostrum has been the guiding philosophy of the past 30 years, a period of disdain for governance - even Bill Clinton said, "The era of Big Government is over" - that reached its nadir in the sloppiness of the current Bush Administration. It is an era that has been marked by a growing disconnect between the very rich and the middle class (median family income has dropped by an estimated $1,000 during the Bush years). And it is an era when even the most rudimentary responsibilities of government have been neglected - like keeping up the country's infrastructure...
...more gnomic their pronouncements, the more they seemed to the impressionable to be deeply wise and romantic. It is during this time that fame became a major factor in Thompson's demise. The groupies gathered, the legend grew and, soon enough, the work suffered even more deeply. A nadir was reached in 1974 when he was assigned to cover "The Rumble in the Jungle" between Muhammad Ali and George Foreman. He chose to float in his hotel pool, a bottle of hooch in hand, while the great fight took place, and he was unable to file anything. After that...