Word: investor
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Dates: during 1960-1969
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Kennedy began investing in oil in the late 1940s, principally to gain the tax break supplied by the oil depletion allowance. Kennedy's original partner, Tulsa Petroleum Engineer Raymond F. Kravis, remains a co-investor and an adviser on operations. He describes the Kennedy investment as "a big small company," amounting to some $10 million and producing an annual gross income of about...
...July plunge. Those who expect the July low to stand as the bottom of the 1969 market predict that stock prices will move sideways for a long time until there are solid indications that inflation is being brought under control. Such prospects may be faintly reassuring to the average investor, but they do not promise much chance for speculators to recoup their mid-1969 losses quickly...
...order to move into new fields, insurance companies have been forced to alter their corporate structures. Some 400 investor-owned insurance companies, including nearly all the big ones, have turned themselves into subsidiaries of newly created holding companies during the past few years. These are free to invest and diversify in ways that insurers have been forbidden to do directly...
...alike. Meanwhile, there probably will be a strong growth in what Chairman Ammidon calls "the managing of money so that its owners will be free to turn their full attention to their own businesses." Not only will troubled markets and tighter tax laws make it harder for the amateur investor to turn a profit, but many of the new millionaires -or the merely affluent-will find that they do not have the time even...
...stock market's $100 billion decline since mid-May has wounded every kind of investor-amateur and professional, neophyte and veteran, racy speculator and wary conservative. The psyche has been hurt as badly as the pocketbook, and the pain of loss is sharpened by the thought of what might have been. Though every investment is a risk, more investors than usual are furious at their brokers for having talked them out of selling last spring, when they could have cashed in rich profits...