Word: broker
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Dates: during 1980-1989
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Then at 1:30 p. m., a popular broker and huntsman named Richard F. Whitney strode through the mob of desperate traders, made swiftly for Post No. 2 where the stock of the United States Steel Corp., most pivotal of all U. S. stocks, is traded in. Steel too, had been sinking fast. Having broken down through 200, it was now at 190. If it should sink further, Panic with its most awful leer, might surely take command. Loudly, confidently at Post No. 2, Broker Whitney made known that he offered $205 per share for 25,000 shares of Steel...
...back together again after the breakup. Under the plans, shareholders can exchange their AT&T stock for shares in one of the funds. By combining the shares of all eight companies into one security, the funds make it easier for stockholders to hedge their investment bets. In addition, the broker handles all the paperwork, so the stockholder gets only one dividend check a month instead of eight checks every three months. All this convenience comes at a price, however. Brokers are currently charging a fee of 1.5% for the service, and the rate will go up to 3% after...
Stock lending involves giving control of the fund's stocks or bonds to a brokerage house, which may need them to manipulate the market for a certain issue. In return, the broker lends the fund's owner a sum of cash, which the owner invests and profits from while the broker uses the stocks. Because it involves almost no risk, no research, and no manpower, stock lending is the closest one can come to a sure thing in the fiduciary world...
...Management Company brought in Bing Sung '66 at the fourth-highest salary in the firm and installed him as its head options broker. For Sung, the responsibilities were especially complicated, not only does Harvard speculate in the market, but it also acquires buying and selling rights as insurance against plunges in the prices of some stock and bond holdings. It, for example, the Management Company were concerned that IBM was about to take a dive, it would protect itself by buying the right [rather cheaply] to sell the stock at its current value 30 days from now. It does...
HARVARD 13, ARMY 7--In 1981, it was 27-13 In 1982, it was 17-13 I'm no broker, but I spot a trend...