Word: chip
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Dates: during 1960-1969
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...Plays Too Slow." On the very first hole, a downhill, 455-yd. par-four, Palmer pushed his drive into the rough, knocked his No. 6-iron approach over the green, overshot the pin by 15 ft. with a chip shot, two-putted for a weak bogey five. Playing near-flawless golf at a deliberate, almost indolent pace ("He plays too slow," said Palmer, "and I told him so"), Nicklaus made his par and took a one-stroke lead that he never relinquished. At the fourth hole, when Nicklaus hooked his tee shot into 6-in. rough. Palmer managed...
...above its closing the previous Friday. Then it began a nosedive that did not stop even after it broke through its previous 1962 bottom of 553.75, set during the black hours of early morning trading on May 29. All told, 410 stocks, running the gamut from glamour to blue chip, hit new 1962 lows last week. Among them were the shares of such preeminently solid companies as Shell Oil (29½), Ford (74¼), General Electric (55½), U.S. Steel (42½), General Foods (61), Du Pont (170⅝) and Dow Chemical (42⅛). A.T. & T., which last year joined...
...high: 578) plummeted to 300 on Thursday-at which point, the Wall Street Journal caustically noted, its yield to investors rose to 1%. Polaroid (1962 high: 221) dropped from 109¼ at the beginning of the week to 81½ on Thursday, closed on Friday at 98. Even blue-chip A.T.& T. had a hard week, sliding from 109 to 105⅞. Said Sidney B. Lurie, a partner in Manhattan's Joseph-thai & Co.: "There's a mass exodus on the part of investors. The professionals raised their cash earlier in the year; now the amateurs are getting...
Bargain Day. Surveying the debacle from the inner offices of brokerage houses, banks and mutual funds, the men who make markets decided that many stocks had touched bottom and now was the time to shop for blue-chip bargains. Monday night, Boston Investment Counselor Garfield Drew, the champion of the Odd Lots Theory (TIME, March 31, 1961), rushed out 4,500 telegrams urging purchases of such hard-hit issues as Polaroid, Xerox and American Machine & Foundry. On Wall Street, mighty Merrill Lynch, Pierce, Fenner & Smith sent out a "Buy Flash"; so did Paine, Webber, Jackson & Curtis, E. F. Hutton, Francis...
...Geneva Exchange-which does not restrict floor trading to member brokers-was a churning mob scene as panicky investors rushed onto the floor to sell their stocks in person. On the Zurich Exchange, shares in the blue-chip Crédit Suisse slid from...