Word: investors
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Dates: during 1990-1999
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Moved PermanentlyMoved PermanentlyFortune Investor DataPresumably, Greenspan will stop worrying too -? if he ever started. Many saw the Fed?s "bias shift" in May as a virtual rate hike, one that showed up in the market?s interest rates and took some steam out of stocks without the central bank?s actually having to do anything. Now, there are only two reasons for the Fed to raise rates at its June 29 meeting ?- to loosen up labor markets or simply to bare its teeth ?- and neither seems compelling enough for Alan & the Gang to act before the next meeting, in August...
...first four months of this year, $52 billion in net new money flowed into stock funds--down a third from 1998's record levels. Moreover, as fund investors chase short-term performance above all, only a select group of the top fund families, with brand names like Vanguard, Janus, Fidelity, Putnam and Alliance, are capturing the bulk of that new cash--and much of it is "automatic" in the form of 401(k) plans. That leaves hundreds of smaller players to fight for the scraps, according to Financial Research Corp. "There's a lot more risk now," says Jack Brennan...
Certainly, some of the smaller outfits will make it--there's always room for niche players, as the rise in focused Internet funds proves--but it is likely that the business will never again have the same kind of lock on the retail investor. Jokes veteran portfolio manager Martin Whitman of the Third Avenue Value Fund: "You haven't seen a more speculative, irrational market in years. The inmates are running the asylum." The industry just hopes that, sooner or later, it can get them back in line...
...multimedia empire --Henry Ford, founder of Ford Motor Co. --Bill Gates, co-founder of Microsoft --A.P. Giannini, architect of nationwide banking --Ray Kroc, hamburger meister --Estee Lauder, cosmetics tycoon --William Levitt, creator of suburbia --Lucky Luciano, criminal mastermind --Louis B. Mayer, Hollywood mogul --Charles Merrill, advocate of the small investor --Akio Morita, co-founder of Sony --Walter Reuther, labor leader --Pete Rozelle, football-league commissioner --David Sarnoff, father of broadcasting --Juan Trippe, aviation entrepreneur --Sam Walton, Wal-Mart dynamo --Thomas Watson Jr., IBM president...
...Sources: Investor's Business Daily, Agence France Press, Defense Department, Bride's Magazine