Word: contrasts
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Dates: during 1970-1979
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...relatively low P/Es testify to a dominant conservatism among investors that stands in welcome contrast to the giddy atmosphere of the late 1960s and early '70s. For years before that, Wall Streeters thought that a P/E of 10 to 15 was normal for most companies. But as the economy rolled through the late 1960s without recession, investors got the naive idea that profits, particularly of some growth or "glamour" companies, would keep on rising rapidly forever-so that almost no price was too high to pay for the prospect of sharing in future earnings. Before the crash came...
More striking still is the contrast between the onetime peak and present P/Es of some individual stocks. Samples: Polaroid, a high of 114 v. 18 now; McDonald's, 81 v. 26; Xerox, 63 v. 16. At one point in 1968, IBM was selling at $701.50 a share, or 161 times earnings, giving its stock a market value equal to all the shares in all the oil companies in the U.S. Now, at $256 a share, IBM is priced at a modest 18 times profits...
...pounding her fist into her palm, Susan Dowling catching one wrist with the other hand. Dowling delicately arrests her gestures, Gray percussively snaps hers. Both work within their own style of moving and yet transcend their individuality too, dancing in unison through the second half of the piece. In contrast, Gray starts off another dance in the series, "Looking to See," with unison movement. In this piece a second twosome doesn't have the chance the performers do in "Tangent Watchers" to interpret self through movement...
...palace smiling relaxedly at women or cheerfully playing with pigeons in the park. An April 4 Times editorial implied that Videla's regime was moderate and well intentioned. True, there had been arrests in the first few days, but these were rather selectively aimed at corrupt Peronist functionaries. The contrast with Chile was evident and the efficiency and advance notice of the coup were even treated with touches of good humor...
...Ambrose Bierce, The Devil's Dictionary In a characteristically dire report, the Central Intelligence Agency has just warned of potential global upheavals "almost beyond comprehension." The cause of the chaos: climatic change that will trigger massive crop failures, drought and widespread famine (see ENVIRONMENT). In contrast to this augury of doom, Herman Kahn, ebullient director of the foresighted Hudson Institute, has just looked at the future and found it good. His new book, The Next 200 Years, offers a plausible scenario of declining population growth, rising levels of affluence and, given the right so cio-economic conditions, "virtually eternal...