Not depression or recession. Assuming we can remember what that is. It hasn't sold, and the price is dropping. The dot-commers are starting to ask for pay in actual cash, not merely promises of future riches. Some in the stock options set are leaving shaky start-ups to return to established companies that are here today, here tomorrow.
Profits are back in fashion.
On Wednesday, market mavens were talking about a downturn, worried about so-so corporate profits, rising oil prices, the feeble euro, the rebirth of inflation and Mideast turmoil. In 1980, 4.6 million households were buying stock by investing in mutual funds. By 1990, 25.8 million families had their money in mutuals. Until this year, half of mutual investors had little experience with a stock market that goes in two directions. The fear is that new investors who rushed in to an ever-rising market will rush out again if the market doesn't bounce back quickly.