Word: sky-high
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...Last July, MedImmune's infant-pneumonia drug, Synagis, passed a significant clinical hurdle, and the stock shot from $15 to $55. More fundamentally, though, biotech stocks as a group have been woeful laggards for three years, and may represent the broadest base of value in today's sky-high stock market...
...past, the public has rewarded stations for pursuing just this kind of story, though typically less bloody ones. "Usually the ratings shoot sky-high, and the viewers use their remote controls and zap from station to station. They watch them," says Perret. Explains Manhattan psychologist Steven Fishman: "A lot of people have pent-up emotions, so it's cathartic for them to observe such violent action." But, says Sissela Bok, an ethicist at Harvard: "That just shows that the lines between news and entertainment have become very blurred." Former TV news producer Derwin Johnson, a professor at the Columbia Graduate...
...biggest deal of any kind--also involving a bank. If you're just now planning to invest around this craze, hello, you're late. Very late. But all good manias last longer than they should, and this one probably will too. If you are not put off by sky-high valuations or a possible turn for the worse in the banking cycle, yes, you may yet crack open the vault with bank stocks...
...whereas the price of a traditional bond would go up only half as much. Right now the trend is toward lower rates. O'Higgins plans to ride the trend with zeros for at least another year. Such market timing is fraught with risk. But then so is riding a sky-high stock market. If beating the Dow is your pet cause, give this new dog a look. The old one may be lovable, but it doesn't hunt the way it used...
Clearly, American companies and global powerhouses elsewhere won't be doing as much business in Asia in coming quarters. And that is precisely why Asia's problems are a world event. It means big companies won't make as much money as their sky-high stock prices demand. And that gets to the heart of the problem. It's not so much that companies can't thrive without exports to Asia; it's that ebullient investors have put such absurdly high prices on stocks that even a minor disappointment in earnings will let out a lot of air. Consider Citicorp...