Word: market
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Dates: during 1970-1979
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...where institutions and private investors have been seeking a double killing on low Wall Street prices and the cheap U.S. dollar. Merrill Lynch reports doing good business for private Arab investors from Abu Dhabi and Dubai. Britain's Prudential Assurance Co. has been a buyer in the U.S. market...
...have been lost too. Some of the biggest winners and losers are the traders in options, the riskiest of investments. Options are essentially future "rights" to buy stocks, and investors in them manage to participate fully in the rise, or fall, of a stock without paying the full market price...
...every buyer of an option, there is also a seller, usually a large institution or professional trader. Those sellers were hurt badly when the equity market boomed. Some traders sold options on stock they did not own, a perilous practice called "naked" option writing that they carried out in anticipation of a market fall. When the market exploded, they suffered hefty losses. Many of the option sellers further fueled the market surge when they rushed to buy the shares in order to be able to deliver them to their options clients. The Chicago Board Options Exchange indicated that professional traders...
Gary Helms, research director for Loeb Rhoades, Hornblower & Co., agrees that naked option and ordinary short sale covering boosted the market during the past few weeks. But he argues that it is only one factor: "The rally was one of the broadest based I have ever seen. There is more buying to come from institutions and from abroad." And, he adds, "we are not even counting the small investor, who could further increase the rate of gain when he decides it is finally time...
Still, Kodak has cause for concern. It plans an appeal of an adverse judgment in an antitrust case brought by Berkey Photo; Kodak could be ordered to pay damages as high as $113 million. Despite its dominance of the $8.5 billion photographic-supply market, Kodak has been unable to dethrone Polaroid in the instant-photography field, which accounts for 40% to 50% of the sales of nonmovie, amateur cameras. Kodak remains the industry's giant, but Polaroid has been catching up. On sales of $5.9 billion last year, Kodak's net earnings dipped 1%, to $643 million; meanwhile...