Stock
in sentence
2378 examples of Stock in a sentence
For all of their faults – they were never models of innovation or forward-looking management – YPF and its parent company, Repsol, at least were bound by the strictures required for trading on advanced countries’
stock
exchanges.
In new empirical research, Alma Cohen, Charles C.Y. Wang, and I show how
stock
markets have learned to price anti-takeover provisions.
We examined the extent to which firms’ earning announcements surprised markets (as reflected in stock-price reactions to these announcements) and
stock
analysts (as measured by the gap between announced and forecast earnings).
Of course, it is premature to conclude that JPMorgan violated the US Foreign Corrupt Practices Act by employing children of Chinese officials who oversaw companies that retained the bank to underwrite their
stock
offerings.
Customers, competitors, and even suppliers seldom knew what
stock
bookstores held.
Nowadays, by contrast, bookstores not only report what
stock
they carry but also when customers’ orders will arrive.
Stock
Market FantasiesHistorically, the
stock
market has performed well.
In his celebrated 2002 book Stocks for the Long Run , Jeremy Siegel shows that the American
stock
market returned 6.9% per year in real terms between 1802 and 2001.
But most people don’t believe that the
stock
market will perform so well in the future.
Think about it: investing in the
stock
market at 6.9% a year, and reinvesting any dividends, means that, in a tax-free account, the real value of the investment will double every ten years.
At that rate, a 20-year-old who in 1960 invested $4,000 a year in a tax-free account in the US
stock
market would have one million dollars by age 65 today.
In fact, statistics on past
stock
market performance mislead because of what statisticians call “selection bias,” which occurs when the sample from which a statistic is derived is not representative of all the data.
The most fundamental problem is that, in examining
stock
market investments, we are selecting an economic activity because it was a consistent success in the past.
The US had one of the world’s most successful
stock
markets in the twentieth century.
Elroy Dimson, Paul Marsh, and Mike Staunton wrote in their book Triumph of the Optimists that of 15 countries that have advanced economies today, the US
stock
market ranked fourth in its rate of return between 1900 and 2000, behind Australia, Sweden, and South Africa.
The geometric average real return of the US
stock
market was 6.7%, but the median geometric real return for the other countries was only 4.7%.
A study by Philippe Jorion and William Goetzmann found 39 countries with reliable
stock
price data – though not dividend data – for a good part of the twentieth century.
They found that the median real
stock
price appreciation from 1920 to 1996 for all these countries was only 0.8%, compared to 4.3% for the US.
Of course, even looking at these countries entails selection bias, for it excludes countries without price data for much of the twentieth century, notably China and Russia, where communist revolutions terminated the
stock
markets, resulting in -100% returns for investors.
The particular problems that prevented us from observing the returns on these
stock
markets will never be repeated, but it is wrong to assume that problems of that scale will not recur.
Indeed, the
stock
market is an important component of any modern economy.
In fact, bank
stock
prices might drop, and it is entirely possible that compensation and bonuses would be curtailed, at least in the short term.
But this does not appear to be the diagnosis of
stock
markets, notably in the United States, where equities are trading at record-high prices.
Some economists, led by Northwestern’s Robert Gordon, argue that,
stock
market valuations notwithstanding, all the great inventions have been made.
Of course, there is no glee in seeing
stock
prices tumble as a result of soaring mortgage defaults.
The ECB’s policy was not inflationary, because the aggregate
stock
of central-bank money in the eurozone was unaffected.
By the end of last year, the aggregate
stock
of central-bank money in the euro area was €1.07 trillion euros, and €380 billion euros was already absorbed by ECB credit to the GIPS.
So financing a continued GIPS current-account deficit of about €100 billion a year would consume the entire
stock
of base money within another six or seven years.
For some analysts, the emergence of countries like Brazil as economic powerhouses stems partly from successful demutualization of their
stock
exchanges.
Twenty-three bourses are currently operating in Africa, and their combined market capitalization has soared from $245 billion in 2002 to $1 trillion (2% of the world total) at the end of 2009 – as high as the fifteenth-largest
stock
exchange in the world.
Back
Next
Related words
Market
Markets
Prices
Their
Which
Would
Capital
Footage
About
Economy
Financial
Growth
There
Other
Since
World
Money
Economic
Should
Years