Word: nasdaq
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Dates: during 2000-2009
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...also know that those who tried to save the day two weeks ago on Terrible Tuesday--the day the NASDAQ fell 13.6% but got almost all of it back in a matter of hours--are now worse off for their efforts. The index finished on Friday at 3321, well below the week-earlier bottom of 3649. Investors who had smugly picked up Cisco at $64 and watched it rebound to $76 were by late last week the proud owners of a $57 stock. That will probably work out for them longer term. But raise your hand if you think such...
...anyway. And given discouraging news on inflation last Friday--the CPI has been rising at a 5.8% annual clip this year, the government reported--don't look for Greenspan to stop boosting rates soon. The ominous prospect of more rate increases, along with basic valuation questions, sent both the NASDAQ and the Dow average on another wild ride...
...left behind if one sector takes off. It's a confidence builder that, like turning off the tube, makes you less likely to sell when stocks dip--O.K., plunge--giving others the benefit of temporary low prices. Consider: many days this year, the Dow has been up when the NASDAQ was down, and vice versa. In the past 30 days, a tech-only portfolio might easily have lost 30% to 50% of its value. Yet if that portfolio had included bank stocks, plus some basic industry and consumer-goods companies, it would have been a relatively stable collection of stocks...
...company should be a fast-growing market leader, or the kingpin in a field with barriers to entry, the P/E ratio could top 100 and analysts would still be calling it a buy. Until recently, they had a case; value investors missed out on the NASDAQ's huge move last year...
...eternity in tech time. But on news of the proposed remedy, investor concerns appear to be in full force once again. Before 10 a.m. on Monday, Microsoft had dropped more than 12 dollars per share to $66.63. After steady gainst throughout the second half of last week, the NASDAQ finished down over 161 points Monday, or roughly 5 percent. It's hard to imagine that not serving as some sort of wake-up call to the Microsoft brass...