Word: stockely
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...that leads to a big question about the stock market, which had run up more than 30% on the hunch that an economic upturn was imminent but has lately been exhibiting second thoughts, with trading volume sinking and major indexes slipping down through technical support levels, one after another. So investors rightly ask: Is it foolish to be buying stocks now, after the market jumped so high on hopes alone? (See the top 10 scared stock traders...
While all color films have dyes printed directly onto the film stock, Kodachrome's dye isn't added until the development process. "The film itself is basically black and white," says Grant Steinle, vice president of operations at Dwayne's Photo in Parsons, Kans., the only photo-processing center still equipped to develop Kodachrome film. Steinle says that although all dyes will fade over time, if Kodachrome is stored properly it can be good for up to 100 years. The film's archival abilities, coupled with its comparative ease of use, made it the dominant film for both professionals...
...them "noise traders" and co-authored a series of academic papers showing how their errors could move prices) and lamented at the 1984 meeting of the American Finance Association that "virtually no mainstream research in the field of finance in the past decade has attempted to account for the stock-market boom of the 1960s or the spectacular decline in real stock prices during the mid-1970s...
...stock-market crash gave Shiller and Summers all the ammunition they needed. "If anyone did seriously believe that price movements are determined by changes in information about economic fundamentals," Summers said just after the crash, "they've got to be disabused of that notion by Monday's 500-point movement." The crash also demonstrated that prices didn't follow the statistical model of a random walk--if they did, a 20% one-day market drop like that of 1987 should happen only once in billions upon billions of years...
Subsequent years saw more challenges to the core assumptions of the rational market. Even Fama retested his 1969 efficient-market hypothesis and found it wanting. But the strong performance of the U.S. stock market and economy tended to silence doubts about the wisdom of the market both on campus and where it really mattered--in Washington and on Wall Street. Shiller warned repeatedly of irrational exuberance in stocks in the late 1990s and in housing in the early 2000s. He was largely ignored both times--until he turned out to be right. Unwillingness to countenance the possibility that market prices...