Word: investors
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Dates: during 1950-1959
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Aircraft (down 24%), auto (down 18%), oil, railroad, heavy-machine stocks took a bad licking last year as investors switched into defensive issues such as utilities, food, tobacco and finance companies. Yet, when the selling was heaviest, many a coolheaded investor decided that the news was not that bad and started buying again. Since then, the market has seesawed cautiously higher: stocks on the Dow-Jones average ranged between 438 and 451 in January; 436 and 458 in February, closed at 453.04 last week, 33.25 points above the October...
...forcing bandleaders to come to him. M.C.A. bandleaders who became unruly found themselves with poor bookings. Later he developed other sidelines-sold liquor to nightclub owners as part of the deal for a band, sold his musicians insurance, real estate and cars. He also became a successful stock market investor, bought a seat on the New York Stock Exchange in 1936, still holds...
...rich, not from his plays and histories but because he was a shrewd investor who "would rise from a sick-bed and travel across France, if he saw a good profit to be made." Château Cirey in Champagne was tumbledown; to restore it, Voltaire put his credit at the disposal of Emilie's husband-who, in turn, put his wife and Château at the disposal of Voltaire. History does not show a more foursquare example of the eternal triangle...
Across nine states, from Texas to Iowa, some 1,300 gas stations in the next few weeks will break out in a bright new color scheme-the shiny blue-and-white gas pumps of a bustling Belgian-born newcomer, American Petrofina. The first major foreign investor in U.S. oil since Shell, Petrofina has grown from only a plan on paper to $100 million in assets in less than two years, now feels strong enough to put its own "Fina" brand name on the gas stations it has picked...
Smith has been Merrill Lynch's operating boss for more than a decade, directing a huge supermarket of finance that now handles 12% of the New York Stock Exchange's public round-lot volume and 20% of its odd-lot trading, and has serviced 450,000 investor-clients in the past three months alone. A shrewd New Englander from South Hadley Falls, Mass., he attended Phillips Academy at Andover, Mass., went from Amherst ('16) to a $7-a-week runner's job in the fledgling Merrill Lynch Co. with a burning conviction that the brokerage business...