Margin calls. Panic. Busted nest eggs. Is this what Alan Greenspan had in mind when he began raising interest rates last June? Well, yes. To a degree anyway. And given discouraging news on inflation last Friday--the CPI has been rising at a 5.8% annual clip this year, the government reported--don't look for Greenspan to stop boosting rates soon. The ominous prospect of more rate increases, along with basic valuation questions, sent both the NASDAQ and the Dow average on another wild ride.
Yet even with stocks swinging like Tarzan on amphetamines, you're not doomed to smack into a tree. The trick:...
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