Word: investments
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Dates: during 1970-1979
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Howard runs a private investment portfolio-known as "a hedge fund"-that has earned more than 1,000% on its original investment in 1969. His firm's current assets: $20 million plus. Anyone who gave Howard $10,000 to invest then would have upwards of $100,000 today. But then, who would have trusted Marc Howard to handle a $2 bet? A college dropout who had held 25 different jobs between 1962 and 1969, he started Howard Associates on begged and borrowed money in a one-bedroom apartment in Flatbush. Not until 1973 did he feel that he could...
...either of the two expansion franchises last year for $10 million each if they were certain financial losers? A baseball team can be used as a tax shelter for rich men like McDonald's owner Ray Kroc or Seagram's magnate Charles Bronfman, but shrewd businessmen do not generally invest in predictably unprofitable enterprises...
...further asks, "Do you want to see 'our' Red Sox sold to George Steinbrenner, CBS, or ITT?" "We want to show the Red Sox that there are enough serious fans willing to invest for the New England people," the advertisement continues...
...Harvard, no one seems ready to go as far as the 20 Hampshire students who this week seized an administration building to protest the college's refusal to give up shares in companies that invest in South Africa...
...Harvard will almost surely continue to invest in the apartheid regimes...