Word: analyst
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Dates: during 1950-1959
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Oedipus Recapped. Dr. May explained to his skeptical audience why he-and growing numbers of analysts in Europe and the U.S.-feel that a new approach, but not a new school, is needed. Trouble with previous analytic or "depth psychology" schools, he argued, is that they fail to get to the root of the problems that send patients to analysts nowadays. Thus both scientific progress and improvements in treatment are blocked. May & Co. are convinced that when conventional analytic treatment appears to effect a cure, in all probability something has been going on inside the patient that was different from...
...skyward. There was also realization that lagging earnings can come back fast (see below). Thus, though stocks in historic terms are overpriced (18 times earnings for the industrials), many Wall Streeters are using a method to evaluate them which simply disregards the present. Said Edmund W. Tabell, top market analyst for Walston & Co.: "What an investor must do is take an average of earnings over the past five years [$32 for the industrials], measure it against projected 1959 earnings [now being quoted at a record $40], and come up with something in between. What happens? By overlooking 1958 earnings...
...Said Walter Gutman, analyst at Shields & Co.: "So far earnings have not yet reflected capital improvements; companies can expect to benefit from the $200 billion they have invested since 1950. Taking this into consideration, stocks are not overpriced...
Visit satirizes in very funny fashion a good many things, such as man's penchant for war, the Pentagon bureaucracy, the self-inflated news analyst, free love, the power of mind over matter, and the flying saucer furore...
Shaking off warnings from the Federal Reserve-and many a market analyst-investors continued to buy stocks and dump bonds last week in a speculative drive that sent Dow-Jones industrials up 2.15 points to 508.28, within four points of the year's high. While confidence in the nation's overall economic health is a factor in the rise, soaring stock prices have outdistanced foreseeable earnings. A bigger factor is the fear of inflation, which has grown so strong that many investors break previously accepted rules in their race to cover themselves against a possible decline...