Word: stockings
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Dates: during 2000-2009
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...most likely still took a hit. To paraphrase the question Ronald Reagan posed years ago, Are you better off today than you were at the beginning of the decade? For most of us, the answer is a resounding no. Let us count the ways. For one thing, the stock market is down 26% since 2000, making this the worst decade for stocks. (Inflation-adjusted, it's even worse.) I remember Warren Buffett telling me at the beginning of the decade that there was no way the go-go returns of the 1990s were going to continue and that...
...also recall that the stock market usually mirrors political and economic trends. When the future appears to be stable and certain, the market moves up. When unexpectedly positive events occur, like the Internet boom in the 1990s, stocks produce above-average returns. This decade, the surprises were mostly negative, which drove the market lower. At some point, unanticipated positive developments will again drive the market higher: perhaps a sustained easing of tensions between the West and radical Islam, breakthroughs in green technology (think energy sources) or something completely unimagined. If we were too positive heading into the 2000s...
...Bill Gross, the head of PIMCO, has joined other bears by claiming the U.S. economy is entering a "new normal" era of slower economic growth and limited stock returns because American consumers have become thriftier. Instead of spending, they are paying off their heavy debts, and this will weigh on corporate earnings indefinitely. Yet it is world economic growth, not U.S. growth, that will dictate future stock returns. S&P 500 companies now obtain almost half of their revenue and profits outside the U.S. That share will most certainly rise as growth in the emerging nations continues to outpace that...
...Read "Stock Rally Isn't Over, Says Wells Fargo's Hartman...
...argue that such art “imprisons man within himself and further enslaves him, depriving him of hope and joy.” (Tough words for those of us who didn’t know we were enslaved in the first place: could the papal library stock Weber and Nietzsche?) The spleen was perhaps only to be expected from a bishop who, prior to donning the mitre, frequently provoked the press barb “God’s Rottweiler...