On the Defensive
As economic growth slows around the globe, finding good stock investments will get even tougher
BY PAT REGNIER
Let's just take a moment to enjoy the thought that 2000 is at last blood under the bridge. Investors last year saw the United States' NASDAQ composite index, the marker for that New Economy we all used to believe in, fall almost 40%. European markets generally fared better, declining just 3.5%, but times were tougher on retail investors who decided to dabble in American-style initial public offerings and get-rich-quick stocks. Neuer Markt is now just another word for nothing left to lose. Trouble is, 2001 won't offer easy relief. Stocks in the U.S. in particular are still expensive by historical standards, and growth has slipped. Proceed with caution...
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The Year Ahead
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