Word: crashes
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Dates: during 1960-1969
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Most Serious. White drew the sought-after X-15 assignment in 1958. When Captain Iven Kincheloe died in an F-1O4 crash six months later. White moved up to top Air Force pilot on the X-15 - which has been a flying test bed for developing systems used in Project Mercury. From 1958 until 1960 he trained intensively, often flew jets on "chase" missions when other pilots were testing the X-15. Finally, in April 1960, he took the X-15 up for the first time. Within five months he had flown it to its first world altitude record...
...house in the last ten years," says Director Billy Wilder. Grant steadfastly insists that he has as much right to his privacy as a plumber or a municipal clerk. When people ask for his autograph he gives them an incredulous look as if they were trying to crash a party, and if some jolly clod says, "Put your John Hancock right here, Cary," he says, "My name is not John Hancock, and I have no intention of putting it anywhere." On one memorable occasion, a rebuffed fan snapped: "Who the hell do you think you are?" Grant, cool...
...impressive growth achieved by mutual funds during the postwar era was always flawed by the fact that in the Great Bull Market of the 1950s it supposedly took real talent to lose money. Not until this year's seven-month market drop, climaxed by the Blue Monday crash, did the fund managers really get a chance to demonstrate how well they could perform in a shift from a major bull market to a major bear market...
...Matter of Mix. Just as some individual investors did better than others in the crash, so did some funds. Best performers were the ultraconservative funds that attempt to ensure a steady dividend income by concentrating their holdings in bonds and high-yield stocks. Thus Boston's Incorporated Income Fund fell only 9.4%, and the K-1 fund operated by the Keystone Custodian Fund dropped only...
...yielded to pressure from the Kennedy Administration and was trying to push stock prices back up. Actually, the Fed was only acting as it had in the past. The Fed was given the power to control margins in 1934 in order to prevent a repetition of 1929, when the crash was intensified by the vast number of speculators operating largely on credit. So when stock prices soar and speculators' borrowing increases, the Reserve Board raises margins as a damper. Traditionally, when credit to securities buyers falls about 10%, the Fed interprets it as a sign that speculative pressure...