Word: marketeers
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
Cheaper at Auction. The interest declines were small but widespread. Rates on bankers' acceptances-corporate promissory notes issued to finance goods in transit or storage with payment guaranteed by a bank-fell by ¼% to 8%. In the bond market, Treasury bills sold at an average 6.86%, down from a peak of 7.22% last month. Pacific Northwest Bell Telephone sold $75 million in debentures at 7¾% compared with a 7.9% rate on the last Bell System bond offering in July...
...president of Shearson, Hammill & Co., the big Manhattan brokerage house. Especially hungry are the managers of "performance" mutual funds and hedge funds, both of which have sold themselves to investors on the promise that they could select stocks that would surge ahead no matter what the rest of the market did. The stocks that most of them selected-computer, conglomerate, oceanography and nursing-home issues-have fallen hard in this summer's bear market...
...Next Test. The likelihood that speculators will soon find another way to outgain stock-market averages is not great. Last week the stock market slowly extended a technical rally from its July 29th low of 801.96 on the Dow-Jones industrial average. The average rose 16.37 to close at 837.25. Brokers almost unanimously expect that the rally will give way soon to a new drop that will "test" the low. Opinion is divided about evenly on whether or not the market will pass that test...
...brokers are strongly bullish or strongly bearish. Those who expect the Dow-Jones average to fall below 800 predict that any new decline will be less violent than the 167-point May-July plunge. Those who expect the July low to stand as the bottom of the 1969 market predict that stock prices will move sideways for a long time until there are solid indications that inflation is being brought under control. Such prospects may be faintly reassuring to the average investor, but they do not promise much chance for speculators to recoup their mid-1969 losses quickly...
...investors who have been accustomed to getting only an interest return on loans, says Washington Economist Miles Colean, "an exposure to equities is like the taste of blood to a young lion." The insurance industry's new look may have an even greater impact on the stock market. If insurers could sell mutual-fund shares to all their 132 million policyholders, they might well generate a torrent of cash. The thought of how much that could lift stock prices is enough to elate some Wall Streeters. The prospect frightens many others. They fear that prices could be driven beyond...