Word: beared
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DIED. BERNARD HALDANE, 91, founder of the almost 100 career-counseling centers that bear his name and author of 14 books on changing jobs; in Seattle...
...loss in a fire begun by an arsonist. Writes Carter: "Putting one foot in front of the other: I was getting very good at that. Understanding the pattern and meaning of what happened over the past couple of years was harder. I'd lost my teeth, my ability to bear children [because of an earlier hysterectomy], my husband, my house, and everything in it. Stripped bare again and again. If this were a movie, I'd skip to the end and pray for a happy ending. But this was my life, and there was no easy fast forward...
Throw in unusually high levels of short selling (a bet that stocks will fall) and frenzied institutional selling that drove the Dow to its closing low of 7702 on July 23, and you have a classic snapshot of how bear markets are supposed to end. Some market gurus now say the average stock is undervalued by 20% or more. Even if the major indexes haven't hit rock bottom, individually "many companies likely have hit their low," says Donald Straszheim of the economics firm Straszheim Global Advisors...
BIGGS: Not just the world markets, the world economy too. The bear case is that we are going to have a double-dip recession because the further decline in the stock market will have such a severe wealth effect that the American consumer, who has been the engine of the U.S. economy and the world economy, is going to fade significantly...
BERGSTROM: There are some equity markets in the world that have been very good places to be, even during this U.S. bear market. Korea is one. That may be one of the simplest ways to say, Hey, there are diversification opportunities...