Word: bullmarket
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...disappointed. The memorandum cheerily suggests that Harvard, at least, will probably be the last of the private universities to fall, Columbia's $11 million deficit this year suggests that it is nearly through as a private university. Yale, which had been spending out of its capital gains in the bullmarket days, has now lost great chunks of its operating income as stocks fall and prices rise. The market value of Harvard's own portfolio-2/3 in equities, 1/3 in bond and other debt securities-dropped 18 per cent this last year, even though the income yield recalled...
Carlos Vial, president of the potent Banco Sudamericano and one of Chile's biggest bullmarket operators, tracked down Wachholtz in swank Viña del Mar and in the presence of President González, was said to have accused him of playing bear and speculating on the market drop. Husky Minister Wachholtz swung on Vial, knocked out two teeth. Last week Vial sued for "grave lesions" to his person; Wachholtz sued also-for defamation and injury by publicity...
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