Word: investors
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Dates: during 1980-1989
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...healthy stock advances spurred by an unexpected rally of the dollar, which was bolstered by the intervention of central banks in the currency markets (see following story). For the week, the Dow was down 27.52 points. As usual, there was a logical, if contorted, economic explanation of why investor sentiment so abruptly turned bearish. The problem started when the Government announced that the U.S. unemployment rate had fallen from 5.9% in November to 5.8% in December, its lowest level since 1979. To most people, that sounds like good news, but nobody has ever accused Wall Streeters of thinking like most...
Boarding the plane, Lynch felt "like a prizefighter who knows that in six hours he will walk into the ring." Despite his confidence that the market would bounce back, he was troubled by fears and doubts, just like every other investor, large or small, during the historic crash. He thought about his mother, who lived through 1929 and "always said you should never own stocks." He wondered, "Maybe this is the start of the real thing." Most of all, he thought of the people who had bet on him, though he had always told them up front that...
...behind his back, Ivan Boesky, 50, listened pensively while U.S. District Court Judge Morris Lasker told a packed courtroom in Manhattan, "Criminal behavior such as Boesky's cannot go unchecked. Its seriousness was too substantial merely to forgive and to forget." With that the judge sentenced the onetime superstar investor to three years in prison for his role in the largest insider-trading scandal in history...
...elegant suite of offices, his personal secretary continues to answer the telephone, while a guard hovers near a reception area decorated in gold colors and Far / Eastern art. "Boesky now uses the office as a private club to meet with his lawyers," says a source familiar with the investor's activities. A large renovated farmhouse on Boesky's 200-acre estate in Westchester County, N.Y., is up for sale for $3 million, but his wife Seema still lives in the main house across the road. As heir to a large real estate fortune, she received more than $70 million from...
...Friday before the crash, but she told me I had good stocks and should hold on. Now she keeps giving me excuses why she can't meet me for a few days." While Costa's threat was figurative, customer anger seemed all too real last week after an investor who lost nearly his entire multimillion-dollar portfolio walked into a Merrill Lynch outlet in Miami with a .357 magnum in his briefcase and killed the branch manager, seriously wounded a broker and then committed suicide. The customer, Arthur Kane, 53, later turned out to be a disbarred Kansas City lawyer...