Word: stocking
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Dates: during 2000-2000
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...Gore promises to promote environmental issues, but his ownership of this stock shows a lack of understanding and compassion about what's going on," Hansen said...
...glossy and expensive new Manhattan headquarters. Sotheby's fortunes, particularly, were expansive, as it opened outlets in Amsterdam and Zurich and spent more than $40 million to make itself a presence on the Internet, including a partnership with Amazon.com Accordingly, Sotheby's has taken the greater fall. Its stock, which was at 47 last April, closed last Friday at 19.5, after sinking as low as 14.5 earlier in the week. And its tarnished image prompted rumors that it might be a takeover target for French financier Bernard Arnault, head of the luxury-goods conglomerate LVMH Moet Hennessy Louis Vuitton...
...seems to know the extent to which Americans are betting their houses on the stock market. Economists contend that people are more likely taking cash out of stocks and buying houses. Yet it would hardly be surprising if the reverse were true. Home-equity rates are comparable to margin rates at about 9.5%. They're easy to tap and fully tax deductible regardless of investment income. That last point is big because hot stocks today don't throw off dividend income. You may be better off in the short run tapping your home-equity line than margining your brokerage account...
Mostly, burgeoning consumer debt is about living well: funding a car or vacation. But in some cases--a fast-growing share, I'd wager--it's about people leveraging bets in the stock market in pursuit of their million. No one knows how much has been borrowed to play the market, but this has been a hot issue since margin debt at brokerage firms soared in recent months to $244 billion, equal to a record 1.4% of the market value of U.S. public companies. Most firms will lend investors as much as 50% of the value of their securities...
That has Fed chief Alan Greenspan mildly concerned. When stocks fall, margined portfolios fall faster. What should make him lose sleep, though, is knowing that home-equity loans--now shooting beyond $500 billion--account for an unknown level of further market speculation. When home values and stocks rise together, "the gains from each help finance the other," he noted last November. If it turns out that rising home values are being mortgaged to prop up stocks, a crack in the stock market could hit home values hard...