Word: troughed
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Dates: during 2000-2009
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...deal with Smith & Nephew of the U.K., is suddenly being wooed by a U.S. firm, Zimmer Holding. Investors are thrilled, because all the activity suggests that the stock-market recovery of the past few weeks will continue. "It's exactly the sort of thing that should happen around the trough of the market," says Michael Hartnett, head of European equity strategy at Merrill Lynch in London. "If companies see value, then we should see value. It has to be good for sentiment." Some entire sectors, such as biotech (see next story), seem reignited. No, we're not reliving the frothy...
...right now, the game in Washington is to pin the blame for the fact that a fib, conscious or unconscious, made it into the State of the Union address. And in a summer news trough, that's bad news for the White House...
Despite this, both the shuttle and the International Space Station may be rigged for survival--if not for success. More than half of all congressional districts already drink from the ISS trough, and the giant project cannot survive without the shuttle trucking up its parts. Buy one, and you're stuck with the other. "No one is going to write off the shuttle and station. We're too invested in them," says Representative Dana Rohrabacher, the California Republican who chairs the House Subcommittee on Space and Aeronautics...
Still, anyone who has experienced a frothy market like San Francisco may find the fair-value argument difficult to accept. That's because in the past few years the hottest markets have been rebounding from declines in the early 1990s. Measuring from trough to peak will always show unsustainable growth. A better snapshot comes from measuring from peak to peak. Take San Francisco again. The median home price has surged to $482,000 as of the first quarter of this year, from $254,000 in 1995. That's an 11.3% average annual return, double the historical national average...
...culprits of Enron and Tyco, WorldCom and Wall Street are now being described as the largest gang of upper-income banditti since the Ponzi, Insull, bank and bucket shop defendants of the early thirties. The recent peak-to-trough decline of nearly 75% in the tech-heavy Nasdaq also happens to represent the steepest decline in a major stock market index since the Dow Jones Industrial Average fell more than 80% between...