Word: dow
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Dates: during 2000-2009
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...DOW JONES INDUSTRIAL AVERAGE...
...Scientists have been raising the alarm about dioxins since the 1960s. After TCDD, the dioxin in Agent Orange, was found to cause cancer and birth defects, the U.S. Environmental Protection Agency (EPA) slapped an emergency ban on the herbicide in 1979. Dow and Monsanto, the chemical's largest manufacturers, eventually shelled out millions in damages to U.S. troops who were exposed to it while it was being used as a wartime defoliant from 1961 to 1971. The U.S. government still spends billions every year on disability payments to those who served in Vietnam - including their children, many of whom...
What's going on? Part of it is the fact that "gold's gyrations are the Dow Jones index of anxiety," as this magazine put it three decades ago amid the last big gold fever. When investors are scared - about inflation, about political turmoil, about financial breakdown - they return to the soft, shiny metal that has for millennia served as a store of value. When things calm down, as they did after the gold price peaked in 1980 at $850, demand for gold subsides and the price declines. (See pictures of modern day gold prospectors...
...studying psychology at Yale and then playing drums in a pop-music group that never hit it big, Prechter joined Merrill Lynch in 1975 to do technical analysis, also known as chart-reading - the search for patterns in the movements of securities. The most famous of technical approaches is Dow theory, a rough model of market waves originally described by Wall Street Journal co-founder Charles Dow at the turn of the 20th century and refined and popularized in the subsequent decades by Journal editor William Peter Hamilton. Prechter studied Dow theory but soon moved on to the mostly forgotten...
...economists, who had long dismissed market cycles as nonsense, have begun to come around at least a little. Yale's Robert Shiller describes market booms and busts as the product of fashion and animal spirits. A trio of academics revisited a famous 1934 paper that debunked the predictions of Dow theorist Hamilton and found that, adjusted for risk, Hamilton's predictions beat the market. MIT's Andrew Lo, a top finance scholar, has made technical analysis one of his main research topics. So maybe there is something to it. Or maybe this is just evidence of a social wave...