Word: stockings
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Dates: during 1990-1999
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...mattress. The esteemed Warren Buffett revealed last Monday that he had recently sold more than $5 billion in bonds. Presumably, that money is now parked somewhere secure while he hunts for bargains--if he hasn't already found them in the wake of last Tuesday's stock-market dive. Bully for him. But remember that he's a billionaire investment god. Mere mortals don't have his eye for value, nor can they easily summon the discipline to "buy the dips" in volatile times like these...
...which last week had fallen as much as 10% from its high, could fall further and seriously set back anyone who plows in a pile of money now. But a happy irony of the stock market is that the nuttier it gets, the more you can make by sticking to a regimen of investing a set amount at regular intervals, as most folks do with their 401(k)s or other automatic-investment accounts. That's right: when stock prices fly up and down in dramatic fashion, it's to your advantage. The hard part is gutting out those unnerving...
Consider a stock or mutual fund in which you invest $100 a month at a starting price of $20 a share. After one month, the price is $25, a month after that $10, then $30, $15 and, finally, right back at $20, where it stays for a month. No gain after six months, you say? True, the stock is where it was when you started buying: $20. But because you invested $100 each month, you would have accumulated 34 shares at an average price of just $17.65, and be up by the annual equivalent of 27%. That's the magic...
...bigger the price swings are, the better off you'll be. Mark Riepe, who heads the Charles Schwab Center for Investment Research, is putting the final touches on a new study that looks at extreme price fluctuations. He has found that when the average monthly movement of a stock--up or down--doubles, steady investors enjoy a 7% greater return over just two months. "What really makes it work is that the stock market goes up over time," he says. But even in a market whose average is flat for a time, wilder price gyrations lead to better overall returns...
...Earth's Biggest Bookstore." Those of us who are independent booksellers find their claims need clarification. The 2.5 million-book database that both Amazon and Barnes & Noble use is virtually the same one that is used by any bookstore. The two giants don't have a large warehouse stocked with 2.5 million titles available at hefty discounts. Instead, they may stock several hundred titles of best sellers, for which volume sales allow cheap prices. All other books they supply their customers are ordered from the same national distributors that many independent bookstores use. But as a plus, specialty bookstores have...