Word: investors
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Dates: during 1970-1979
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...investor must usually put up a minimum of $1,500 to $2,000 to buy a "parcel" of raw new spirits that his broker has bought from a Scottish distiller. In return, he gets a receipt from a bonded warehouse in Scotland giving him title to the whisky and bills for storage and insurance costs. After waiting out a three-year aging period specified by British law, he tries to sell his whisky to blenders who run short, or to other investors...
...investor in Scotch is heavily dependent on his broker. No daily price lists on Scotch trades are published in the U.S., and the Securities and Exchange Commission has been unable to establish regulatory authority over the business, although it contends that the warehouse receipts are investment contracts. Scotch plungers also are prey to arcane worries; for example, if much of the investor's whisky evaporates in storage, the price of his barrel goes down. If all the uncertainties drive an investor to drink, he cannot even readily imbibe his own booze. To bring it into the U.S. he would...
...provided considerable impetus for the Investor Responsibility Research Center (IRRC), conceived of and headed by his assistant, Stephen B. Farber '63, and it is this organization upon which both the ACSR and the Corporation subcommittee rely for much of their information about social issues. The IRRC has affected other institutions as well; the most notable, perhaps, is Cornell, where this spring the trustees have voted proxies against management at ITT, Mobil Oil and Kodak...
TRADE IN Star Trek memorabilia is brisk, and even the Smithsonian Institute has gotten into the game, securing a copy of the pilot show and several props. For the noninstitutional collector-investor, film clips are highly popular and those showing the usually stoic Mr. Spock smiling are worth their weight in Martian gold. (Publicity photos are also popular, but some of the more ambitious fans photograph the show for themselves while it's on their television screens. Another big seller is sound recordings of the show, and Trekies have been known to memorize entire scripts. Most popular, however...
...amateur stock market speculator knows, stocks do a lot more than simply draw dividends -- they bring their most dramatic earnings through increases in value on the stock market. These earnings, which are less regular because they are dependent on the health of the economy and the luck of the investor, are called "capital gains." As a set policy, Harvard never spends capital gains, but instead allows them to accumulate for reinvestment, making the endowment grow...