Word: stocke
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Dates: during 1990-1999
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...collective fear of how quickly our years here are passing by, I encourage those of you graduating and entering into the world of work to change that. Start Primal Screams in your offices and law firms, in your graduate schools and your laboratories. Send the entire New York Stock Exchange on a naked lap around Wall Street. Once you do, we will stop feeling forced to miss college for college itself instead of for the people and ideas that college gave us. Maybe then we will stop feeling this horrible constant reminder that we will not be in college forever...
...worried about your investments because interest rates seem to be moving higher, get over it. Ordinarily, the prospect is worth fretting about. Rising rates can take the steam out of corporate profits, the stock market and the whole economy. But the rate jitters that surfaced last week are actually good news. They represent just the latest swing in a highly emotional market that for three years has thrived on alternating fears about which way the economy would grow: too fast or too slow. As long as the pendulum doesn't swing too far in one direction, your nest...
There are other reasons to worry, and I haven't been shy (though, you may conclude, I haven't been right) in citing them. Lofty stock valuations, untested shareholders and heavy insider selling are among my concerns. On the interest-rate front, though, there seems little cause for worry. The new jitters stem from modestly robust economic figures that suggest a rate increase is in order to slow the economy, and rumors that Federal Reserve chief Alan Greenspan is leaning that way. So what? Six months ago, Asia was falling apart, and everyone thought the economy would sag so much...
Back and forth go the worries, while in reality the economy has been riding a fine line of perfection: slow growth, low inflation, steady profits. In retrospect it's clear that the constantly reversing worries were a signal that there was nothing to worry about. Bearing that out are stock market gains averaging 31% a year since 1995. One day there will actually be a problem, and rates will move up to crush inflation or down to rub out a recession. Either way, stocks will take a beating at some point in the cycle. But we're not there...
...Communications Wait a minute -- didn't the feds break up Ma Bell already? In the latest, and biggest yet, deal to shake up the unsettled telecom industry, highly acquisitive SBC Communications announced it would buy Ameritech in a $62 billion stock swap. The combined entity would comprise three of the original seven Baby Bells with more than $40 billion in annual revenues, controlling some 57 million lines in 13 Western and Midwestern states. Only U.S. West now stands between SBC control of nearly three quarters of the U.S. Throw in telecom deregulation that should eventually allow local phone companies...