Word: ratio
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Dates: during 1990-1999
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...earnings of the underlying companies--a notion that had fallen out of favor after years of "momentum investing," in which all that mattered was that someone would buy the hot stock that some greater fool would soon bid up to an even higher price. The price-earnings ratio for the S&P 500 has approached a record 30 this summer, twice its historical norm. Securities analysts, reassessing the impact of the turmoil in Asia and other foreign markets, last week began chopping down their estimates for growth of U.S. corporate profits, to as little...
...takes any steps up. On international markets, it was the yen slip that triggered the attack against the HKD. During a weeklong run-and-gun battle between speculators and the Hong Kong Monetary Authority, the peg remained firm. (The HKD is pegged to the U.S. dollar at a ratio of 7.8 to 1.) A defiant Joseph Yam, head of the HKMA, vowed in the press conference, "I am going to hit them [speculators] where it hurts." But the defense cost Hong Kong billions (the government had to buy Hong Kong dollars with U.S. dollars) and did little to discourage speculators...
Despite the bloodletting, though, traditional measures still show the market to be more expensive than at any time before the current cycle. The S&P 500 dividend yield, which stood at 2.6% on the eve of the 1987 crash, has dropped to 1.5%. The S&P's price-earnings ratio, or P/E (based on expected earnings), is 21--down from 23 in July but still much higher than the previous peak of 19 in 1991, according to earnings tracker First Call. Meanwhile, market leaders still sport bubble-like P/Es: Coca-Cola, where unit sales are growing about 8% a year...
...must stay after school, every single episode of his life, to write a homily on the fourth-grade blackboard (e.g., "The Pledge of Allegiance does not end with 'Hail, Satan'"). In a family of noisy eaters, he is perhaps the loudest, at least in decibel-to-kilogram ratio. He has a few weaknesses: exposing his buttocks, sassing his father, making prank calls to Moe's Tavern ("Is Oliver there? Oliver Clothesoff?") and speaking like a Cockney chimney sweep. One of the few trophies on his bedroom shelf is labeled EVERYBODY GETS A TROPHY...
...first major move as President, Boklowers the male-female ratio for Harvard'sincoming class from 4:1 to 2.5:1 on October...