Word: funds
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Dates: during 1980-1989
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...Lampoon will also erect a bronze statue of Elmer that will resemble the John Harvard figure, establish a resident Elmer Scholar position, and endow an Elmer fund to spend on Elmer research...
Tierney blamed his loss on insufficient press coverage and a lack of aggressive fund-raising, but he chose to focus his concession speech on the positive aspects of his campaign...
Before the final bell, 90 large companies announce plans to buy back their own shares. Phelan has asked the big-fund managers to avoid automatic programmed purchases and, above all, sales. This feeds the surging optimism and causes the Dow's biggest single-day climb ever: up 186.84 points, to 2027.85. More than half of Monday's loss is recovered...
...plans to use part of his $340,000 Nobel Prize money to equip the boat with a new Genoa jib. "I've been just a poor academic up to now," he says, noting that the value of his only other major asset, his share of the M.I.T. pension fund, was reduced in last week's debacle. But some good may yet come of the Crash of '87, he says, if it lessens the flow of bright graduate students to investment banks. "It may make engineers out of some yuppies," he smiles. "Sweet are the uses of adversity...
...never so violently as on Black Monday. Tickers and news reports flashed the story of huge price declines on heavy volume. With each sale, more investors became convinced that a collapse had begun and they had better get out while they still could. Mutual-fund managers tried to hold on but could not; they had to dump stock to get cash to pay off investors who clamored to redeem their fund shares. Margin calls to investors who had bought stock on credit aggravated the frenzy. Some could not put up additional collateral and were sold...