Word: lynch
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...manager" has become a guide through the complex world of financial services. The entry level for most of these private banks is $1 million, though in the fragmented industry you will find boutiques like Donaldson, Lufkin & Jenrette and J.P. Morgan that require $5 million, and aggressive players like Merrill Lynch that accept as little...
...longer true, and the proof is that people who now do it don't need the money. In fact, the two richest men in America have appeared in ads recently. Bill Gates has endorsed a brand of golf clubs, and Warren Buffett is pushing private jets. Peter Lynch, the investment guru, retired from Fidelity years ago but is back starring in commercials for the firm. Nathan Myhrvold, a Microsoft executive, also has endorsed a jet. The ads say he owns one, which is another way of saying he doesn't need...
...symbol. Why? Mainly because in the 1990s the prestige of commerce and the glamour of money have soared along with the economy. This explains why zillionaires are wanted to endorse products and helps explain why they would do such a thing. There are other reasons, of course. Buffett and Lynch are both pushing products of their own companies. Those I'm-the-wonderful-CEO ads are also justified as being good for the company--at least in the CEO's own swollen head. There has been published speculation that Gates made the golf-club ad in order to seem warmer...
Look at how fixated we've become with the daily ups and downs of the Dow--how our hearts race when the market is up and how we sag when the market does. Or look at how we've turned mutual-fund managers like Peter Lynch into celebrities. Most of all, look at the extraordinary extent to which we now rely on stocks to fund our retirement, send our kids to college and allow us to lead the kind of comfortable lives we view as middle class. We believe in the market today with something approaching religious faith...
...retrospect, Merrill Lynch was really Charlie Merrill's bully pulpit, the platform from which he could preach the virtues of the stock market and show the country that the small investor could get a fair shake on Wall Street. "Demystification had been the key to [my father's] great success," James Merrill later wrote in his memoir. "No more mumbo-jumbo from Harvard men in paneled rooms; let the stock market's workings henceforth be intelligible even to the small investor." To that end, the firm published an endless stream of reports, magazines, pamphlets--11 million pieces in 1955 alone...