Word: stocking
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Dates: during 2000-2000
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DIED. ADAM PETTY, 19, fourth-generation member of the most celebrated family in stock-car racing; from head injuries sustained after crashing on a practice run at New Hampshire International Speedway; in Loudon...
...article "Box Score: Who's Rich Now?" we listed people who sold stock before the April dotcom market debacle [BUSINESS, May 1]. We incorrectly listed Julian A. Brodsky, a director of Internet Capital Group, as selling $327 million worth of indirectly held company shares. In fact, the shares were owned by Comcast ICG, a subsidiary of Comcast Corp., of which Brodsky is vice chairman, and all the proceeds of the sale went to Comcast, not to Brodsky himself...
...wartime atrocity 35. This bear can be major or minor 36. Puerto Rico's pro-independence leader, who protested at 28-Across 38. Camp __ (site of the Lockerbie trial) 39. They were grounded by Reagan 41. It's working with the U.N. on a cease-fire 45. Its stock exchange will merge with Frankfurt's 50. "Peek-__!" 51. Mai __ (rum drink) 53. Word on a $1 bill 54. Gore says Bush is stuck in a cold-war -- warp 55. __ lane (rush-hour convenience) 56. Tiger's pocketful 57. Merlin, for one 58. Corrida cry 59. Vortex...
...with the P/E ratio. You are suggesting there is some spurious--some fallacy in that. There isn't a fallacy here. I look at past historical periods when we had similar leveling, and you know, what comes to mind is 1929. We have had a tripling of the stock market to a record high level in the past five years, and there is only one other time when that has happened, which was '24 to '29. So history doesn't encourage me to think people have suddenly learned something...
SHILLER People believe stocks are safe. But I don't think this represents learning. It suggests this is what we call a speculative bubble. When stock prices go up--and they have been consistently for a while--people get a feeling that they must go up. So to me it is very clear what has been happening in recent years. It is not like people have just taken a course in economics and were impressed with the data. That is not what happened. We have seen so many cases in history of speculative bubbles. And we should learn...