Word: gruntal
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Dates: during 1990-1999
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Joseph Battipaglia, chairman of investment policy at Gruntal & Co., a major brokerage company, predicts an actual decline in the rate of the 30-year Treasury bond to around 5.75% by year's end and possibly to 5.5% sometime in 2000. Barton Biggs, chairman of Morgan Stanley Dean Witter Investment Management, is generally the most pessimistic of the board members, but on this subject he goes Battipaglia one better. His prediction: "A year from now [the 30-year Treasury rate] will be in the area...
Pullman, 36, has been working this area since the early '90s, first for investment firm Gruntal and then in partnership with Fahnestock & Co. Last month he shook off those names and set up the Pullman Group to chase celebrity bonds in a big way and, he hopes, brand himself as the top name in this esoteric field. He and others say the bonds will ultimately extend to all sorts of intellectual property that generates a steady stream of income: patents, authors' royalties and writers' residuals from TV reruns and film libraries...
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