Word: investors
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Dates: during 1950-1959
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...week. ''But the whole world seems to be caught by a frenzy of speculation. If this goes on. something serious is bound to happen pretty soon." On Zurich's conservative and cosmopolitan Effektenborse. stock prices moved sharply up and down. Alpine fashion, and many an unsavvy investor plunged in with gusto. "For the first time." said another stiff-lipped Zurich banker, "our market is pulling in the barbers, the bakers and the waiters...
Quirk of Fate. Robinson joined M.I.T. in 1932, eight years after a stock salesman named Edward Leffler teamed up with Boston Broker Charles Learoyd to form the trust. Leffler thought that the ordinary investor usually bought the wrong stock, should have help in investing. At first the financial world laughed at him for his radical new ideas: the redemption feature of the fund and the disclosure of portfolio. He bowed out of M.I.T. six months later, and in came Boston Banker Merrill Griswold, an early buyer of M.I.T. shares who became M.I.T.'s first chairman...
...Jones industrial average, point out that the top five common stock funds just kept pace with the averages in the seven-year bull market. But Broker Arthur Weisenberger, the Boswell of the industry, whose brokerage house puts out the definitive yearbook of the funds, argues that an investor could pick a slow mover even in the stocks in the blue-chip Dow-Jones averages. Only 14 of the 30 stocks have done as well as the 229% gain in the averages in the last ten years...
...purchases on the New York Stock Exchange). Many a customer howls when told of it. But the funds have a quick rejoinder: they argue that the charge includes the cost of selling out as well as buying, is the price of broad diversification and professional management. If an investor with $4,200 (the average size of a mutual fund holding) tried to buy a diversified portfolio of stocks on the New York Stock Exchange, claim the funds, he would easily have to pay 8% to get in and out of the market...
...have become so popular that they have blossomed with all kinds of new plans. The most controversial plan-and one that M.I.T. has shunned-is the contractual plan, under which a customer signs for regular monthly payments over a period of years (usually ten). The catch is that an investor who puts in $1,200 for the first year of a $100-a-month ten-year contractual plan is docked for about $500, or half the entire ten-year commission, in the first year. If the investor drops out in the first year, he loses most...