Word: billioned
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Dates: during 1950-1959
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...businessmen met, the latest statistics from Washington underscored their forecasts. Gross national product was rising even faster than the preliminary estimates, reached an annual rate of $467 billion for the first quarter of 1959. More important, the gain was real: with hardly any price rise to speak of since last year, the new G.N.P. showed an 8% jump in constant dollars from the recession...
Consumer buying was up to an annual rate of $300.5 billion, some $500 million better than had been predicted a few weeks ago. Consumer inventories were also building up faster than expected. The figure: an accumulation rate of $5.7 billion, or $1.7 billion more than the early estimates. Much of the buildup was undoubtedly due to fears of a steel strike. Ward's Automotive Reports cautioned that auto dealer inventories may soon hit an alltime high of 1,000,000 unless production is cut back in late June and July...
...last decade, the funds have become the fastest-growing, most competitive and most controversial phenomenon of the U.S. financial world. Ten years ago they had fewer than a million shareholders with $1.5 billion invested. Last week they had nearly 3,900,000 with $14 billion invested in more than 200 different funds...
...Massachusetts Investment Trust the prudent man is Chairman Dwight Parker Robinson, 59, a prow-chinned, rock-ribbed New Englander whose family roots go far back into Massachusetts history. Tall (5 ft. 11½ in.) and lean, he guides the $1.5 billion investment of M.I.T.'s 203,000 shareholders (plus the $219 million of 67,000 investors in M.I.T.'s Growth Stock Fund) with such calm and confidence that he sleeps as soundly as he invests. As the boss of the world's biggest fund, he is the first to admit that there are no exact rules...
...have grown up to challenge M.I.T.'s supremacy. Many of them have gathered several mutual funds under their wing. The other top fund managers: ¶ Investors Diversified Services, Inc., of Minneapolis, handles five different mutual funds. The biggest: Investors Mutual, Inc., a balanced fund with assets of $1.4 billion. Scholarly I.D.S. President Joseph Fitzsimmons likes to quote Don Quixote to explain his investment philosophy (" 'Tis the part of a wise man not to venture all his eggs in one basket"), but he keeps all his sales eggs in one basket by having I.D.S. sell all five funds itself...