Word: investor
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Dates: during 1960-1969
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...capitalists on people. The surge in trading volume has swelled brokerage-house commissions, which many brokers have been more eager to pocket than to plow into necessary automation. Now, faced with a deluge of paperwork, they are taking the easy way out by turning down business from the small investor. So widespread is the move to eliminate the little man that President Robert Haack of the New York Stock Ex change, speaking to a group of civic leaders last week in Los Angeles, declared that the Exchange "vigorously deplores" the trend and might "be forced" to take action...
Many brokers contend that it is right because the small investor does not pay his way. James W. Davant, managing partner of Paine, Webber, argues that the cost of handling stock transactions is rising so rapidly that brokerage houses lose money not only on the odd-lot business but also on the average "round-lot" trade of 100 shares or more. "It is unprofitable to serve the investment needs of the small investor," he says bluntly. Brokers make money on the really big trades-and those profits too have been...
...Brislcin, for example, lost $220,000, Shoe Millionaire Harry Karl dropped $80,-000, and such cool hands as Phil Silvers, Zeppo Marx and Tony Martin lost heavily. An investigation by the FBI followed, and last week five players in the games (two real estate developers, an art collector, an investor and a professional card shark) were found guilty on 49 counts of conspiracy, face sentences of from five to 130 years. Their gimmick: to station a confederate at a ceiling peephole in the Friars' card rooms; the "peeper" would then transmit electronic signals about opponents' hands...
Backing into the newspaper business as a $100 investor in the nearly defunct Marion Star, Harding built it into a modest moneymaker, Russell claims, though apparently it was Harding's wife Florence (the "Duchess") who strong-armed both the newspaper and the man into success. A virago of a woman five years older than her "Wurr'n," she was the one driving masculine principle in her husband's life-the force that thrust him upward out of the comfortable country editor's chair in which Harding liked to slump in a "digestive trance" after lunch...
...Game. As Wall Street and publishing circles know by now, Smith is really George J.W. Good man, 38, a former Rhodes scholar, journalist (TIME, FORTUNE), novelist and screenwriter (The Wheeler Dealers). Considerably less well known is Good man's latest interest, a monthly financial magazine called the Institutional Investor (circ. 21,000). Despite its forbidding name, I-I is the brightest addition to the marketplace since one of The Mon ey Game's financial wizards, "Scarsdale Fats," first appeared in the Sunday mag azine of the late New York World Jour nal Tribune...