Word: nasdaq
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...years ago. Theirs is a growth business. Everyone seems to be on one side of the game or the other--except those unfortunate enough to be caught in the middle. Charts of coca production and the violence that goes along with it--kidnappings, massacres, executions--look like a NASDAQ chart from 1998. The jungles of Colombia and Peru and Bolivia are dotted with the paraphernalia buttressing a shadowy and bloody war: American radar systems, air bases and special-operations training units...
...this good or bad news for the traders? They weren't sure. After the morning bell the Dow quickly dropped 123 points, with the Nasdaq falling 56, but both indexes quickly recovered to just slightly down by late morning...
...weeks ago, I ventured a prediction to a colleague, in fun only: The NASDAQ has bottomed. But he wrote it down, demanded that I sign it and plastered it on the office wall. So I guess I'm on the record doing something no one should do--that is, call the market. If Wall Street has taught us anything in the past year, it's that stocks are wholly unpredictable in their behavior. Yet if the "experts" didn't predict the market, what would CNNfN and CNBC have to talk about...
...more or less compelling. And, for many reasons, I believe stocks are worth buying again. A host of hopeful signs has popped into view, and the plain truth is that if you don't buy stocks when they're down, you shouldn't bother at all. With the NASDAQ up 32% in 15 days, odds are the market will retrace a bit, or a bunch. But if you stay diversified with proved companies, near-term losses don't matter. Five to 10 years should be a minimum holding period...
...consumers are indeed worried about layoffs, about unemployment, about their economic future, it's not showing up in their spending habits. Maybe they realize that the NASDAQ crash was a once-in-a-generation event, maybe they've gotten a better understanding of how markets work. But they're still buying things...