Word: shearson
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Dates: during 1950-1959
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What further bothers market specialists about the tax is that it prevents people from being guided by what they really think is a good investment, tends to make the market a less realistic mirror of business conditions. "With capital gains," says Walter Maynard, senior partner of Shearson, Hammill & Co., "you are betting the certainty of a 25% loss v. a problematical gain. And with that certainty of a loss, investors will refrain from making a sale even while admitting that the price of a security is high enough for them...