Word: investment
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Dates: during 1950-1959
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...Rockefeller, 49, third (after John D. Ill and Nelson) of the five famed Rockefeller brothers. A blue-eyed, trim (180 Ibs.) six-footer, Laurance Rockefeller hardly needs more money; he is worth about $200 million. But he believes that wealthy men have a social responsibility to risk their riches, invest in inventive young companies. Says he: "I like doing constructive things with my money, rather than just trying to make more." The "constructive thing" was to put $5,000,000 into some two dozen long-shot companies since World War II. In doing so, he also made much more...
Wrote one Connecticut farm couple: "We are enclosing a $50 check to invest for us in hopes to gain in future years...
M.I.T. returned the check, referred the letter to its sales organization. An Englishman wrote that he was selling his home and coming to the U.S. to invest his money in mutual-fund shares and to get a job selling them. The president of an insurance company in New Delhi asked if he could come to study M.I.T.'s operations because "I feel that even in an underdeveloped economy there would be room for an institution of this type." One North Carolina man went to Boston, called on Robinson, said he owned $270,000 worth of stock in a Southern...
...biggest funds are not necessarily the best performers. Over the past ten years the average fund has increased about 300%. M.I.T.'s gain over that period: 365%. Thus $1,000 invested in M.I.T. shares ten years ago would be worth $3,650 today v. $1,417 if it had been placed in a savings bank at $%. But many a smaller fund that has less to invest, and thus can get in and out of the market more easily, has done much better. Among the top performers in each fund category, the best record of all was turned...
...deposits grew, Lewis helped his bank find better ways to put the money to use. Bankers give him much of the credit for a new New York State banking law passed in 1950 that enabled savings banks to invest part of their assets in stocks. He was the first president of New York's Institutional Investors Mutual Fund, an open-end stock fund for mutual savings banks that now has assets of $46 million. With it all, he was an easy man to work for: friendly, outgoing, a delegator of responsibility who enjoyed calling his staff "my family." Says...