Word: discount
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Dates: during 1980-1989
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Take Carla Smith, 25, a welfare mother who lives with three of her four children in Passyunk Homes, a public housing project in South Philadelphia. She and her children rarely leave the four-block project except to walk to the nearby grocery and discount-clothing stores. "I'm young, but I might as well not be," says Smith. "I don't do nothing. I don't go nowhere. My partying days are over. I just stay here with my kids all day long...
...third at such a rapid pace that they account for 80% of all stock transactions. Private investors are much more likely to sit tight with chosen stocks. But the more active individuals are finding their own tools and tricks. They now cut the cost of commissions by ordering through discount brokers, follow obscure companies through a growing number of newsletters, keep their holdings in convenient cash-management accounts and even get stock quotations through hand-held radio receivers...
...line with Determan's principle, many private investors like to put their money into ventures they understand or industries in which they have unusual chances to spot a breakthrough product. Says Hugo Quackenbush, senior vice president of the Charles Schwab discount-brokerage firm: "Airline pilots, for example, may know some kind of gadget that is being made by a company that may escape the attention of the big guys on Wall Street...
...desire of so many investors to make their own decisions has become a boon for discount stock brokerages. These firms charge smaller commissions than full-service investment firms because, unlike the traditional houses, the discounters provide no advice or portfolio management. For example, on a sale of 100 shares of a $60 stock, a discounter's commission would be about $50, in contrast to nearly $100 at a full-service brokerage. As a result, the percentage of retail stock transactions placed with discounters has increased from 8% in 1982 to an estimated 22% this year. Most successful is San Francisco...
...cannot recall the last novel he read; he once took on a family vacation a book entitled Swedish Land-Use Planning. In his high school yearbook he is facetiously depicted as "Big Chief Brain in Face." He can wax ecstatic over finding a pair of $47 shoes in a discount outlet, and has owned just four cars in the past quarter- century: a Rambler, two Plymouths and the current 1981 Dodge. "My wife says I'm the most uncomplicated man in the world," Dukakis admits. "I guess I am." Even his 83-year-old mother says of him, "What...