Word: baruchly
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...wittiest writers, sportsmen and politicians of her time; after a long illness; in New York. For almost three decades she presided over a dazzling salon as she and her husband mixed repartee and reason with such cronies as Al Smith, Harpo Marx, Gene Tunney, Ethel Barrymore, Bernard Baruch and Dorothy Parker, often at their Long Island mansion, which F. Scott Fitzgerald immortalized as the setting for The Great Gatsby...
...certain that he could lose no more than the $1,750 no matter how much the stock went up. Though most options are sold to speculators, market tacticians also use them in complex hedging maneuvers to protect paper profits, reap tax benefits, or limit the chance of losses. Bernard Baruch used them to grab control of whole companies-without disturbing the market...
...twilight of his long and laudable career, Bernard Baruch was invariably characterized as an adviser to Presidents or a park-bench philosopher who doled out wisdom from a seat in Central Park or Lafayette Square. Admirers tended to forget-Baruch never did-that in the forenoon of that career, he had also been one of Wall Street's craftiest speculators. Baruch could be bearish or bullish. He once sold Amalgamated Copper short and realized $700,000 when Amalgamated reduced a dividend, causing its overpriced stock to tumble. Another time, alerted by a newspaperman that Commodore Schley had beaten...
...engage in speculation, it is "the self-adjustment of society to the probable." But he added that its pervasive peril surfaces when "the success of the strong induces imitation by the weak, and incompetent persons bring themselves to ruin." Incompetent speculators lack, somehow, the sang-froid of an emotionless Baruch or the attributes of another successful pre-Depression speculator, Joseph P. Kennedy. Old Joe succeeded in the Great Bull Market of the '20s and magnificently survived the crash, suggested a friend, because he possessed "a passion for facts, a complete lack of sentiment and a marvelous sense of timing...
...gave these millions? Speculation is divided, but among those mentioned most frequently are Campbell Soup, the Duponts, Bernard Baruch, and, perhaps less seriously, the C.I.A. Whoever it was, gossip has it that Princeton's president Robert Goheen convinced the anonymous donor to throw all his loot into one pile rather than spread it around. There are those who contend "Firm X" is still watching closely over the Woodrow Wilson School's progress...