Word: brokered
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Dates: during 1950-1959
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THIS means the great landed estates will be broken up throughout Latin America," said a top U.S. sugar broker last week, as Fidel Castro signed his agrarian reform decree. The Castro bill quickened Latin America's deep yearning to reap a better living from underdeveloped land. The Venezuelan Cabinet, for example, moved ahead with a land reform bill...
Benny sought out a broker, told him of his yen to invest-though he hardly knew a stock from a bond. Having met hundreds of Bennys, the broker knew just what to do. Benny, he said, should invest in shares of a mutual fund. By last week Benny Hall's investment of $5,000 had grown to $20,000 without his putting in another penny. With his nest egg bigger than he had ever hoped, Benny has used his salary and the returns from the sale of his house to buy a $30,000 home, plans to take...
...management of a Canadian fund; it has 145,000 shareholders and total assets of $634 million. Founded in 1950 to take over management of the United Fund series, it is run by Cameron Reed, who concentrates on administration and sales from his Kansas City office, and New York Broker Chauncey Waddell. ¶ Lord, Abbett & Co., of Manhattan, was brought into the fund field in 1932 by Andrew J. Lord, who was killed when his horse threw him in 1946; it is now run by humor-loving Harry I. Prankard, 56, the author of several books on accounting. It manages...
Quirk of Fate. Robinson joined M.I.T. in 1932, eight years after a stock salesman named Edward Leffler teamed up with Boston Broker Charles Learoyd to form the trust. Leffler thought that the ordinary investor usually bought the wrong stock, should have help in investing. At first the financial world laughed at him for his radical new ideas: the redemption feature of the fund and the disclosure of portfolio. He bowed out of M.I.T. six months later, and in came Boston Banker Merrill Griswold, an early buyer of M.I.T. shares who became M.I.T.'s first chairman...
Mental Charts. Darvas' system is tailored to his job. Since he has to do trading from wherever he is dancing (he recently completed an Asian tour) he ignores tips, financial stories and brokers' letters, has never been in a broker's office. Basically, his approach is that of a chartist: he watches price and volume. But the only charts he keeps are in his head. He studies the weekly stock tables in Barren's, receives a nightly wire from his broker giving the high, low and closing of stocks he is following, as well...