Word: sellers
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Dates: during 1960-1969
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...rate, short selling is no game for novices or the fainthearted. The most that a buyer of stock stands to lose, even if his shares crash to zero, is his original investment. But the short seller's risk is unlimited, since technically there is no ceiling on how high a stock can rise...
...Done. Short selling is the practice of selling borrowed stock in the expectation that the price will go down. The seller works through a regular stockbroker, who usually gets the shares by borrowing them from the margin accounts of other customers of his firm. If the stock drops, the seller can make a profit by "covering"-that is, buying depressed shares to pay off the loan of his borrowed shares. If the stock rises, he takes a loss when he covers. There is usually no time limit on the loan, and the short seller in theory can hold out indefinitely...
There are a number of important factors that tend to hold down the amount of short selling. One is that the short seller has to deposit with the broker at least 70% of the cash value of the stock at the time of the deal, thus tying up his capital. Also, the seller has to pay to the lender any dividends issued on the stock during the period of the loan. If the stock value jumps, the broker can demand more cash, thus forcing the seller to rush for cover. Most important, any profits made on a short sale...
...dozen other varieties of tropical fish, are named for a burly, sometimes surly, businessman-scientist named Herbert R. Axelrod. At 39, Dr. Axelrod has been the supreme sage on tropical fish for so long that many people imagine he is in his 70s. As the largest breeder and seller of tropical fish in the world, he has amassed a personal fortune that makes him several times a millionaire...
...including Poet W. H. Auden and Critic C. S. Lewis, but languished largely unread until it was reprinted last year in two paperback editions.* Since then, campus booksellers have been hard put to keep up with the demand. At the Princeton bookstore, says one salesman, it is the "biggest seller since Lord of the Flies...