Word: broker
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...limit on the amount that an index futures contract can rise or fall in a single day. The Merc has also increased the amount of cash, or margin, that speculators must put on deposit. Congressional investigators are talking about additional safeguards to limit the number of futures contracts a broker could execute in a day. But at hearings last week in Washington, Merc President William Brodsky argued that the sale of index futures had a stabilizing effect on Black Monday. Without that escape valve, Brodsky suggested, the Dow would have fallen another 100 points...
Many stockbrokers are nervous for another reason: the wrath of their clients. "I want to strangle my broker," says Manhattan Insurance Agent Matthew Costa. "I wanted to sell everything on the Friday before the crash, but she told me I had good stocks and should hold on. Now she keeps giving me excuses why she can't meet me for a few days." While Costa's threat was figurative, customer anger seemed all too real last week after an investor who lost nearly his entire multimillion-dollar portfolio walked into a Merrill Lynch outlet in Miami with a .357 magnum...
...details of New York City life, high and low, leap from the legman's notebook. The novel first appeared in Rolling Stone four years ago and ran in 27 installments. Since then, Wolfe has thoroughly rewritten it. The crucial change was to make the leading character a Wall Street broker (pre Black Monday) instead of a writer. "Writers are not much affected by scandal," says the author, "but bond salesmen can be ruined." Moreover, the alteration meant that Wolfe had to study the breed in its habitat, to examine its plumage, to listen to the roar of "well-educated young...
Visions of Champale haunted young financial types as they mentally prepared themselves for a world with less Taittinger. "I used to shop at Chanel," says M.J. Caldwell, a Wall Street broker in her mid-20s. "Now I'll be doing my shopping at Labels for Less." Caldwell, who majored in art history at Barnard, earns a salary in the low six figures and she spends accordingly. "I have every credit card known to man, but this morning I cut some up," she admits. Caldwell plans to keep the mink coat she bought last month, but forget about those $100 dinners...
Shortly before the stock market opened on Meltdown Monday, Albert Gore was on the phone to a broker. The long-shot Democratic contender was not selling short in anticipation of the wake on Wall Street. Rather, Gore was searching for political portfolio insurance: reliable information about the direction of the markets. All presidential candidates were similarly affected by ticker shock during a dizzying week in which requests for quotes sent aides scurrying after the Dow Jones industrial average rather than Bartlett...