Word: marketed
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Dates: during 1960-1969
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According to experts, the basic cause of the bull market in folk music-which has been coming on ever since World War II-is the do-it-yourself trend: folk audiences, unlike jazz audiences, like to participate in the music they admire. At Newport last week, many spectators brought along banjos and guitars with their sleeping bags and sat around campfires on the beaches strumming far into the night. (In the last three years, U.S. banjo sales have increased...
...stocks, no one, day in and day out, takes greater risks than John Aloysius Coleman, 58, a trim, broad-shouldered Irishman with the saturnine look and sad eyes of a bloodhound. He is a stock specialist and is required by the New York Stock Exchange to "make the market" and help stabilize prices in the 52 stocks he specializes in. This means that he must often buy a stock, whatever its price and prospects, when the majority of investors want to sell, thus keep it from dropping too much. He must also sell stocks when the majority wants...
...what stock is likely to be in demand, and-more often than not-why. When a stock goes up, Coleman has usually laid in a supply of it in advance, and turns a profit. Conversely, he often is shrewd enough to unload his supply of a stock before the market in it turns down. The worst thing he has to contend with is fear-the sudden frights that cause investors to dump stocks with little reason. Says Coleman: "Nobody ever got burned to death in a theater fire. They get trampled to death...
WHEN the fire bell rings, Coleman nimbly dodges between frightened investors. Even when the overall trend of the market is down, there are momentary rallies that he can profit by. He can buy a stock one minute and sell it for a half-point profit the next. He often is "long" (buying a stock for a rise) in one stock while "short" (selling for a fall) in another. Coleman actually profited in the Cardiac Break, just as he did in the market's crash in 1929. "We were both long and short. To survive...
Specialist John Coleman has made the most of his market opportunities. He is not far behind Millionaire Joseph Kennedy (see NATIONAL AFFAIRS) in his contributions to Catholic charities. He is a Democrat, has an apartment on Manhattan's Park Avenue as well as a sum mer home in Spring Lake, N.J. Coleman himself takes an almost personal pride in the market: "The fact that we have been able to maintain a continuous mar ket through all sorts of conditions, including the Depression, is the greatest thing anybody ever saw." But the best thing, says Specialist Coleman, "is that...