Word: forecasted
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Dates: during 1980-1989
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Later on Thursday, one of Wall Street's most stubborn bears, Analyst Robert Farrell of Merrill Lynch, suddenly sided with the bulls. He predicted that the rally would last for seven to eight weeks and perhaps take the Dow to 950. Previously, he had forecast a peak in the index of no more than 870 this fall...
...portfolio managers and two top traders. As an executive vice president of Chemical Bank, Rolland manages $11 billion in trust funds. One of his staffers told him that there was a rumor around Wall Street that Henry Kaufman, chief economist at the Salomon Brothers brokerage firm, had changed his forecast and was about to predict publicly that interest rates were coming down...
...Richard Broadhead, at 29 the youngest contender, thinks that going over the side of his 52-ft. cutter Perseverance of Medina in the tropics would be the worst thing that could happen. "In the rough southern ocean you wouldn't last a minute," is his bleak forecast. "But in the tropics you'd stick around until the sharks came and got you." Paul Rodgers, 37, of London, whose 55-ft. Spirit of Pentax is the narrowest boat in the race, has some daunting memories: he was leading the 1980 OSTAR when his boat was rammed by a whale...
...rates and the stunning news that Wall Street's two most influential pessimists had changed their downbeat tune. The first hint that something extraordinary was about to unfold came on Monday morning. The First Boston investment firm announced that Albert Wojnilower, its chief economist, had revised his economic forecast. After warning for months that the huge federal budget deficit could send interest rates shooting back up again, Wojnilower now admitted that the cost of money would probably continue to decline over the next year. On Tuesday morning, rumors whirled through Wall Street that Henry Kaufman, chief economist...
Salomon Bros, officials, who had been besieged by telephone calls all morning, confirmed at 10:41 that Kaufman was releasing a new forecast that predicted further declines in interest rates. By 11:10, the Dow was up almost 9 points, and the rush to buy was on. Leading the charge were the scores of cash-laden institutional investors, including pension funds, insurance companies and banks, which snapped up stocks in blocks of 10,000 shares or more...