Word: stockings
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...tireless and outspoken critic of government waste and intervention, Durst routinely purchased space on the front page of the New York Times to run what he liked to call "bottom lines" - rants that ran along the bottom of the page like stock tickers. His haiku-esque May 26, 1991 message: "Federal debt soaring, national economy shrinking, soon the twain shall meet." In 1980, before technology could support a debt clock, he mailed handwritten holiday cards to dozens of congressmen that read: "Happy New Year. Your share of the national debt is $35,000." When technology finally caught up with...
...seventh day, the market rested. After five days of tumult that added up to the worst week in stock-market history, and a sixth day that saw the biggest point gain ever, the Dow Jones industrial average on Tuesday finished down 76.6 points, or 0.8%, an extremely mild loss considering the rollercoaster ride of recent days. The S&P 500, a broader measure of the stock market, finished down 0.5%, and the NASDAQ lost...
Sweeping conclusions drawn from the daily gyrations of the stock market almost always operate on a flawed premise - that thousands of companies are moved by the same forces, and those forces create a cohesive narrative. In recent days, that premise hasn't been quite as far-fetched. As credit markets seized and governments the world round rushed in to prop up financial institutions, investor panic - and, on Monday, euphoria - swept aside most other concerns about companies' fundamentals. "It was indiscriminate selling," says Art Hogan, chief market analyst at Jefferies & Co. of last week's market activity. "It didn't matter...
...Even though those rates, which are closely followed as an indication of whether the credit crunch is getting better or worse, only eased slightly on Tuesday, it was enough to free up investors' minds to focus on the fact that, in the long run, the thing that determines a stock's price is the ability of a company to make money...
...sign - but not a certainty. "Whether or not that's really true, we're going to find out over the next couple of weeks," says Hogan. One day doesn't make for much of a convincing stock-market narrative, after...