Word: marketed
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Dates: during 1980-1989
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However, the surging prices do not seem to have caught the attention of small investors. Instead of buying shares in companies or mutual funds, in the past year or so they have been investing in so-called money-market funds, which buy short-term securities such as 90-day Treasury bills and pay fat dividends of at least 12%. In the past year, the assets of those funds have swelled from $10.9 billion to $45 billion, which is nearly equal to the assets of the great mutual funds...
...date, the market's big spenders have been cash-rich institutions such as pension funds and the trust departments of banks. More and more their managers are coming to regard stocks as good long-term bets. For one thing, at their present depressed values, at least some blue-chip companies are paying dividends of anywhere from 7% to 10%, making them increasingly competitive with top-quality bonds; utility stocks are offering yields of up to 12%, neck and neck with the money-market funds themselves...
...economic ravages of the 1970s, share prices might really soar. Indeed, with prices of precious metals at astronomical heights and real estate becoming a millionaire's game, stocks are looming up as just about the only investment play still within reach of ordinary people. Says Sidney Lurie, market analyst for Josephthal & Co.: "We believe that the broad stock-price trend is upward, that the boom in collectibles is ending, and that the boom in common stock is just beginning...
...that, Wall Streeters are beginning to echo a certain heady confidence that the sorry 1970s had seemed to drain away almost entirely. Says Wall Street's Lurie: "I think people in this business have forgotten just how much fun a bull market really is. To me, all those rationalizations not to invest are pointless. We've come through ten years of bad times, this is an election year, the start of the 1980s, a big era, and it's going to be a big market...
...industry finished the year operating at only 65% of capacity. The slowdown in new car sales is only part of the problem. Because people are driving less and are switching to smaller cars that do not wear down tires as fast as Detroit's fading dinosaurs, the replacement market has gone flat. Result: tire sales are now creeping ahead by an estimated 2% annually-at a time when the companies need much cash to deal with two big problems...