Word: marketing
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Dates: during 1950-1959
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...decline extended into the next day, but its pace slowed considerably. The sell-off did not alarm most market experts, who chalked it up to a long-awaited technical correction after the long climb. They were confident that the market would turn about quickly-and they were right...
Just as sharply as it had fallen, the market rebounded at midweek, gained back about 50% of its losses for the week. Steel, which had suffered heavy losses in the dip, sprang back at more bullish estimates of steel production in the weeks ahead. Better October earnings for railroads snapped back railroad stocks. Pennsylvania reported $4,026,319 in October earnings, highest for any month this year and more than twice last October's earnings; New York Central had its best month since December 1956, with earnings of $4,674,110. At week's end the market...
...week's sharp dip highlighted one of the bull market's chief problems, a shortening supply of stocks. This has made the market so thin that prices move widely up and down on comparatively small sales. To many a market specialist, much of the blame for the thin markets can be laid on the capital gains...
...thus has less to invest, unless he can find another stock that will go up enough to make up for the tax loss. With shares already selling at record highs, finding such a stock is difficult. Result: investors are locked into their stocks, thus keeping shares off the market, and forcing up prices...
What further bothers market specialists about the tax is that it prevents people from being guided by what they really think is a good investment, tends to make the market a less realistic mirror of business conditions. "With capital gains," says Walter Maynard, senior partner of Shearson, Hammill & Co., "you are betting the certainty of a 25% loss v. a problematical gain. And with that certainty of a loss, investors will refrain from making a sale even while admitting that the price of a security is high enough for them...