Word: bullmarket
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Dates: during 1970-1979
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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...
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