Weekly Roundup: MarketWatch's top 10 stories, Oct. 15 - 19

	Weekly Roundup OCTOBER 19, 2012 MarketWatch's top 10 stories, Oct. 15 - 19 By MarketWatch SAN FRANCISCO (MarketWatch) — For an American living in Paris in the early 2000s, Lance Armstrong was a cultural touchstone. His string of seven victories in the Tour de France — judged by some to be the toughest sporting event in the world — were a source of pride. Repeated efforts by French authorities and journalists at the time to nail Armstrong for doping failed. And because they failed, they looked like an anti-American vendetta during a period when the United States and France were at diplomatic loggerheads over the Iraq war and other international issues. Armstrong's truly remarkable comeback from cancer, his gritty wins and his cancer-fighting foundation made him an attractive public figure, especially as a foil for the occasional superiority complex to which the French, who are so much like Americans in that way, are susceptible. So it was a particularly sad moment when Nike (NKE) on Wednesday decided to sever ties with the once-great cyclist in the wake of the United States Anti Doping Authority's completely devastating report on Armstrong's doping. Armstrong has denied USADA's allegations, and chalked up testimony from teammates and others in the report to jealousy and anger, but it all rings pretty hollow at this point. Armstrong is now, for all but a few die-hard fans, a member of a depressingly large and growing group of cheaters in professional sports. The gloating in some parts of France, while deserved, must be hard to take. The Dow Jones Industrial Average (DJIA) fell 205.43 points, or 1.5%, to 13,343.51, leaving it with a 0.1% weekly gain. The S&P 500 Index (SPX) shed 24.15 points, or 1.7%, to 1,433.19, a gain of 0.3% from last Friday's close. The Nasdaq Composite Index (COMP) lost 67.25 points, or 2.2%, to 3,005.62 and was down 1.3% for the week. Check out MarketWatch over the weekend for all the news you need to organize your portfolio and your life. We'll help you get a new week started and be there throughout the week for all news from Monday's presidential debate to the onslaught of earnings that are expected. — Christopher Noble , assistant managing editor Fallen (sports) heroes Lance Armstrong, who was dropped by longtime sponsor Nike this week, heads up a list compiled by MarketWatch of great sports heroes brought low by scandal, financial and otherwise. Ten fallen sports heroes, led by Lance Armstrong . Lessons learned, or not Twenty-five years ago, on Oct. 19, 1987, the Dow Jones Industrial Average plunged almost 23%, its largest one-day percentage-point drop ever. While the crash didn't usher in another Great Depression, it did introduce investors to a new era of stock-market volatility. Markets are still susceptible to severe and prolonged downturns . Looking good for now For one quarter at least, a shaky economy, regulatory problems and worries about the future weren't enough to derail the Wall Street freight train. But some elements of the earnings suggested bottom-line growth might be hard to sustain. Bank earnings look good — for now . Another crash is inevitable Prepare yourself for another stock market crash as big as the free fall in October 1987. That's a daunting prospect indeed, since at current levels such a decline would mean the Dow Jones Industrial Average would plunge by more than 3,000 points in a single trading session. We're kidding ourselves if we think current regulations will be able to prevent a crash . Best time to buy Today's stock-market gurus were 25 years younger on Oct. 19, 1987, when they learned a painful lesson in the throes of a full-blown investor panic. "Black Monday" conjured fears of that other October crash almost 60 years earlier, which ushered in the Great Depression. When the going gets tough, the graying stock market veterans get the call for help . Restless miners Labor unrest in South Africa is spreading and concerns are deepening over the nation's production of metals, including platinum, palladium and gold. Metals traders have been closely watching the strikes at the country's mines — blaming price spikes on the mining disruptions. What the strikes in South Africa really mean to metals . A double-edged sword Google Inc.'s third-quarter results demonstrated how the rapid growth of mobile devices has become both an opportunity and a challenge for Internet companies — and may play into reports next week from rivals Facebook Inc. and Yahoo Inc. The three Internet giants are scrambling for the most effective way to get a bigger slice of that fast-growing pie . They're baaaack For the first time in almost a decade, research analysts at many investment banks will be able to attend pitch meetings between their institution's underwriters and prospective clients seeking an initial public offering, potentially bringing back dot-com era conflicts. Booster shots, hyped analyst reports could return . A mature industry The online advertising industry is like a large ship sailing the ocean: It has taken a long time to change direction and now that it has, a sudden reversal back to its original course is highly unlikely. The market is roughly 15 years old with a growth rate that has slowed significantly during the past five years and is unlikely to speed up again soon. The online ad business is maturing and undergoing a massive shift toward video and mobile spots . A good long look in the mirror Individual investors need to take a good, long look at themselves in the mirror and admit that they don't know what they're doing with their money. After two huge bear markets, a housing depression, a financial crisis, and sudden market blowups, investors are fleeing stocks. Many people have realized that investing — or at least active investing — just isn't for them. Individual investors are destroying their wealth . Get the latest news on our mobile site: http://www.marketwatch.com/m MarketWatch has sent you this newsletter because you signed up to receive it. To ensure you receive this newsletter in the future, please add marketwatchmail.com to your list of approved senders. Sent to: kumaresan.selva.blogger@gmail.com Unsubscribe | Subscribe Copyright 2012 MarketWatch, Inc. All rights reserved. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. By using this site, you agree to the Terms of Service and Privacy Policy (updated 6/26/07). MarketWatch - Attn: Customer Service, 201 California St., San Francisco, CA 94111