Word: investors
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Dates: during 1950-1959
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Only the most bearish investor could ignore a key theme running through the 1958 fourth quarter and year-end reports. It was the salutary effect of a new drive for efficiency and productivity. A few years ago, declining sales usually meant a decline in profits. But now many a company can post smart profits even when sales dip. Goodyear Tire & Rubber was down 3.8% in sales for 1958, yet managed to hit record profits, up 2% to $6.08 per share. After a poor third quarter, Reynolds Metals did so well in the last quarter that it actually increased its full...
...Mark Twain became a famous author and an investor in weird business schemes, he also grew crotchety. As Samuel Langhorne Clemens, a garrulous, white-maned provincial literary lion, he strove to climb the social ladder; he was so proud of his scarlet doctor's robes from Oxford that he wore them at his daughter's wedding. But as Mark Twain he sneered at society-and sometimes at himself...
...first week of 1955 the bull, full of power and bounce, symbolized the growth of business in 1954. The economy had a muscular new look; Wall Street had turned from a speculator's hunting ground into a long-term investor's market; the new "people's capitalism" was building a new economic base...
...Consumer. The greatest single force in keeping the recession local-and then turning it around-was the monied U.S. consumer, the same man who, as investor, sent Wall Street's Bull to the moon. By old-fashioned doctrine, recession is a time when consumers cut down their spending. In 1958 the confident U.S. consumer continued to buy, and then some. He became the economic hero of the year-and demonstrated several other facets of the new economy...
Harsh Penalty? On a long-term stock profit, an investor must pay a capital gains tax of up to 25%. This means that if he sells, and pays the tax, he lessens his borrowing power by the amount of the tax and thus has less to invest, unless he can find another stock that will go up enough to make up for the tax loss. With shares already selling at record highs, finding such a stock is difficult. Result: investors are locked into their stocks, thus keeping shares off the market, and forcing up prices...