Word: marketing
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Dates: during 1960-1969
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Last week the market moved like a Yoyo. For the first 21 trading sessions, the Dow-Jones fell straight down, dropping briefly below 800 to a point even lower than it was five years ago. At midweek, a long-awaited rally suddenly began. The Dow struggled up H points on Wednesday, its first gain in almost two weeks. In the week's final two days, it jumped 23 points, to close at 827. The rally at first was fired by false rumors that banks planned to reduce their 81% prime interest rate. Brokers called the rebound a sign that...
...stock market's $100 billion decline since mid-May has wounded every kind of investor-amateur and professional, neophyte and veteran, racy speculator and wary conservative. The psyche has been hurt as badly as the pocketbook, and the pain of loss is sharpened by the thought of what might have been. Though every investment is a risk, more investors than usual are furious at their brokers for having talked them out of selling last spring, when they could have cashed in rich profits...
...seen its value drop $2,500. He describes himself as a "fundamentalist" who invests only in securities that he thinks offer sound values. Among his losses: $1,000 in Gulf & Western convertible bonds that he bought because he considered them "a perfect hedge against a falling market...
...State University Investment Analysis Center, estimates that the value of his own stocks has dropped 23% since May-a period during which the Dow-Jones industrial average has gone down 15%. He invests largely in over-the-counter stocks, which rose faster than most listed shares during the bull market but dropped more sharply during the current slide. A young stock salesman for a San Francisco brokerage house is so discouraged by his own losses that he says, "I don't think I'll ever buy any stock again...
...enough to remember the 1929 crash and the Depression. A 49-year-old Akron trucking executive has lost only $1,000 on a $20,000 investment in four blue chips-U.S. Steel, Ohio Edison, Goodyear and Standard Oil (Ohio). "But I had a fear of the market from the start," he says. "So do most people who saw their families struggle through the Depression. Now I feel like digging a hole in the backyard and burying the dough...