Word: nasdaq
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Dates: during 2000-2009
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...worried about," says TIME financial writer Daniel Kadlec. "He's worried that people will see their money performing well in the stock market and feel rich - and then they'll go spend what they don't actually have." Granted, spending against paper profits that may disappear with the next NASDAQ nosedive isn't exactly the stuff of sound personal finance, but will American investors' apparent flush of success be enough to spur the Fed chief into do something drastic - like once again raising interest rates? Count on it, says Kadlec. "Consumer spending indices hold a lot of weight with Greenspan...
...smoke and ashes to come. For a few retro days, Dow stocks soared as investors, perhaps sensing an imminent rush to the tech exit, sold all things dotcom. Just about everyone who wanted to got through the door--this time. But if you've made a bundle in NASDAQ stocks and are concerned about their increasing volatility, consider protecting what you've made. Here's how, starting with some basics and moving up the ladder...
...Sell short. If you can't part with your tech darlings, cut your exposure by shorting the NASDAQ 100 or buying a put option on the index. When you short the index, you borrow a basket of shares and sell, hoping to replace them at a lower price and profit from the decline. A put option gives you the right to sell at a predetermined price, protecting you from a steep drop...
Last week the Dow's blue chips soared, the tech-heavy NASDAQ followed its 5000-point close with a three-day fizzle, and the S&P 500 rose nearly 70 points. Market watching can be a harrowing sport, so we asked designers John Ryan ('96 Olympics' Izzy), Cookie Gluck (Chicago Bulls' Benny), Wong Doody (Seattle Sonics logo) and Street Characters (Arizona Cardinals' Big Red) to give the indexes their own mascots...
...briefing, Greenspan warned that consumers have been given incentives to spend uncontrollably by low credit card rates, a false sense of wealth fueled by daily plus signs next to the NASDAQ's performance and the fact that foreign products have been so cheap in the wake of financial crises in Europe and Asia. The three-pronged remedy will come by discouraging spending through increased credit card rates, encouraging savings through higher interest rates, and continuing the assault on the stock markets, which could bring consumers' demand more in line with their true wealth rather than with the exuberance engendered...