Word: 10x
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Dates: during 1920-1929
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...rush to brokers with orders to buy? Prudent investors consulted prudent stockmarketeers. They learned: 1) that the "15x" formula might justify itself in a strong bull market, but that it could not be maintained in a slump; 2) that many a sound, conservative stock, undisturbed by pools, sells at 10x or 12x; 3) that 5-year earnings are safer guides than 9 months or a year...