Word: indexers
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Dates: during 1960-1969
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...rise of the open-end international Society has naturally meant the decline of the Social Register as an index of who really "belongs." It is still important to the New Guard, for whom a listing is almost the only way left to know one is better than one's neighbors. Those who are knocking at the Register's door no longer have to contend with the studied inconsistencies of Bertha Eastmond, the train conductor's daughter who presided over the contents of the little black and orange book for nearly 40 years until her death...
...basis of Standard & Poor's 500 stock index, investors' paper losses on the market since Dec. 12 stood at $93.7 billion at the end of last week...
...years, wears the pink of great new brick apartment houses stretching far to the north and south. Its streets, once asphalt museums for antiquated jalopies, are now clogged with gleaming SEATs, the Spanish-made version of the Italian Fiat. The cars are still largely for the rich; a better index to the general improvement is the horde of buzzing motor scooters steered dauntlessly through the city streets by clerks, factory foremen, salesmen, shopkeepers - the nucleus of the new middle class slowly taking shape in Spain...
...Jones industrial average down to 560.28 on Thursday. June 14. It was the lowest close since December 1958. Next day there was a predictable rebound, as short sellers moved in to replace at bargain prices stock that they had borrowed when it was higher. Even so, the Dow-Jones index rose only to 578.18-which left it off 23 points for the week...
...Crossing. That movement is going on now. The average dividend yield on the 30 stocks in the Dow-Jones industrial average has risen from 3.19% in early January to 3.87%. During the same period, the average yield on ten top-grade bonds in the Barren's index slipped from 4.41% to 4.19% because demand increased as some of the big institutional investors switched out of stocks and into bonds. If this narrowing between yields continues, stocks should become more appealing to investors...