Whenever a popular stock suffers a big drop in price, especially a stock that is widely held by pension funds and mutual funds, Wall Street has to make up a reason for the decline that gets the fund managers off the hook for owning it. Recently we’ve heard that the drug company stocks declined because Wall Street was nervous about the Clinton health plan, and Coca-Cola declined because investors were worried about the effect of a stronger dollar on Coca-Cola’s earnings, and Home Depot declined because of sluggishness in the housing market. The real reason these stocks declined is that they had
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