Word: portfolios
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Dates: during 1950-1959
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M.I.T. helped put an end to all that. Despite howls from the financial world, it opened its books and portfolio of stocks to the public, setting the pattern for the "fishbowl" policy under which the whole fund industry now operates. Instead of fighting New Deal legislation aimed at regulating investment-company practices, it recognized the need for regulation, helped the New Deal frame the laws. So similar were M.I.T.'s bylaws to the Investment Company Act of 1940, which laid the ground rules for the funds, that M.I.T. had to change only a few commas...
...with Boston Broker Charles Learoyd to form the trust. Leffler thought that the ordinary investor usually bought the wrong stock, should have help in investing. At first the financial world laughed at him for his radical new ideas: the redemption feature of the fund and the disclosure of portfolio. He bowed out of M.I.T. six months later, and in came Boston Banker Merrill Griswold, an early buyer of M.I.T. shares who became M.I.T.'s first chairman...
...Boston, Robinson went to work on M.I.T.'s portfolio. It needed some fixing...
...only Red-ruled state in India, she flatly declared that "Communism and democracy are incompatible-they are opposite." For the first time, there is widespread discussion of the threat posed to India by the armed might of Red China, and one Bombay weekly deplored the fact that "the portfolio of Defense is in the hands of a Cabinet minister [Krishna Menon] known for his leanings toward Communism." Indians who have long scoffed at what they called the West's "preoccupation" with Communist plans for world conquest now sound much like the people they once derided...
FROM the days of medieval illuminators, a reverence for word and picture has gone hand in hand. The modern counterpart to the illuminated manuscript is the limited edition. Where the average gallerygoer is happy with fine reproductions on coated stock, the limited-edition bibliophile demands a creation as much portfolio as book, with each copy numbered, signed and printed on finest handmade paper...