Word: fenner
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Dates: during 1950-1959
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Hefty Charge. For years brokerage houses avoided the funds like the plague, fearful that they would hurt regular brokerage business. But most of them have come around. Main holdout: Manhattan's huge Merrill Lynch, Pierce, Fenner & Smith, which has never even deigned to mention the funds' existence in its financial letter...
...stockholders it has signed up and the kind of stocks they buy. The exchange increased its advertising budget 25% for a campaign to warn stockholders against tips and rumors, advised: "Hold your money tight when anyone gives you 'the inside dope.' " Merrill Lynch, Pierce, Fenner & Smith, the U.S.'s biggest brokerage house, began to run ads in 210 newspapers entitled "Danger! Inside Tip Ahead." (It was the same ad Merrill Lynch used in February 1947, when the Dow-Jones industrials were at 180 v. 605 currently.) The Securities and Exchange Commission also got into...
...courage to invest regularly in blue chips all during the Depression and since could hardly have escaped making a fortune. Last week, to thousands of curious investors, Merrill Lynch, Pierce, Fenner & Smith proved this in a booth in Manhattan's Grand Central Station. There a whirring IBM Cardatype accounting machine figured what would have happened had an investor put an average $500 a year into a stock every year since 1929-about $15,500 in all. Had he bought Alcoa, his shares would be worth $115,850, and he would have pocketed $17,158 in cash dividends-a paper...
Wall Street still has its speculators. But Merrill Lynch, Pierce, Fenner & Smith, in a survey of 300,000 big, little and medium-sized investors, discovered that the vast majority bought for long-term investment and had no intention of selling, despite the recession. Even American Telephone & Telegraph Co., that staid old lady of the utilities, is getting to be a growth stock...
...from nothing into a huge chain, he made such a good impression that Warren asked him to go to California. Magowan had worked up to be Warren's administrative assistant when he was asked to go back east and help run the brokerage firm of Merrill Lynch, Pierce, Fenner & Beane (now Smith). Although Founder Charles Merrill was his father-in-law, Magowan sold himself by his selling...