Word: gain
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Dates: during 1990-1999
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...talking financial heads who failed to predict the big rise in U.S. stocks last year have resurfaced to forecast a modest rise in 1996. The expert consensus seems to be that stocks will advance 10% this year. That is not exactly a startling bit of augury: a 10% annual gain is about average for stocks in this century...
...best guess of the analysts is that the 30 companies in the Dow Jones industrials will earn a combined $347.50 per share in 1996. If these 30 stocks sell for an average of 171/2 times earnings, we might even see a 20% gain in stocks and a 6000 Dow in 1996. But this is where the doubts creep in, owing to the sluggish economy and the silence at the cash registers...
...bond market. Thirty-year U.S. Treasuries did almost as well as stocks last year, giving investors a 30% total return. If the Fed lowers interest rates, bond prices may rise a corresponding amount, but there is more risk on the downside than potential gain on the upside...
However, students input should be relevant to public service at Harvard. Harvard may engage in public service for altruistic reasons. It may also conduct public service to gain legitimacy in the community. Such legitimacy gives Harvard more room to negotiate settlements with the community in matters where Harvard and the community disagree. In order for one to be a legitimate member of the community, one has certain responsibilities. For Harvard, these responsibilities involve primarily its public service programs...
Harvard's facilitation of public service through its reputation gives it rights in determining the direction in which it needs to move to gain legitimacy and rights in protecting its reputation. However, since students are the primary donors of public service, they may have insight into how public service might be carried out effectively, and may have direct understanding of how their actions affect Harvard's legitimacy as a member of the larger community. By virtue of their knowledge and their labor, students are owed a substantive voice in the determination of public service policy. --Robert Bird The writer...