Word: millions
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Dates: during 1960-1969
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None of Wall Street's brash young managers of "gogo" mutual funds have gone farther faster than 36-year-old Frederick S. Mates. His $32 million Mates Investment Fund has risen 153% in per-share asset value since the beginning of 1968, the highest growth rate of any fund. A onetime English teacher who learned how money talks in 13 years as a highly successful market analyst and big-account broker, Mates is truly the personification of self-confidence. On one wall of his office, he keeps a framed parody of an old Wall Street slogan: "Invest, Then Investigate...
...Million-Dollar Fee. Though Meyer has a formal title only at Lazard Freres in New York, he also guides two other loosely linked Lazard banking houses in London and Paris. A onetime Paris stockbroker who became one of Lazard's most influential partners, Meyer fled to New York when Hitler invaded France in 1940. In the years since, he has helped negotiate some of Wall Street's biggest deals, including the 1966 McDonnell-Douglas merger, for which his firm's fee was $1,000,000. Besides serving as investment banker to such companies as ITT and Owens...
...average European farm is less than 25 acres (v. at least 350 acres in the U.S.), and three out of four plots are too small to maintain a family. To effect a change, Mansholt aims to reduce the number of European farmers within the next decade from 10 million to 5,000,000. He suggests that governments use financial incentives to induce old farmers to retire early and to voluntarily sell their farms to neighbors. That would help to meld tiny plots into bigger, more efficient "modern farm units...
...high tax on vegetable-oil products, designed to encourage Europeans to switch from margarine to butter. The U.S. contends that the levy would violate international prohibitions against the use of domestic taxes for protectionist purposes. In any case, it would certainly threaten the U.S.'s $450 million-a-year sales of soybean products to Western Europe. The U.S.'s largest farm exports to Common Market countries come from the lowly soybean...
...dealers in foreign exchange. Since 1966, they have entered industrial ventures with Britain's National Provincial Bank and with four Continental firms, including Baron Guy's Paris bank and Cousin Edmond's* Banque Privee in Geneva. In May, the firm assembled a syndicate that lent $15 million to Hungary, the first direct credit by Western lenders to an East bloc country. Three months ago, its U.S. affiliate bought the Georg Jensen chain of New York-area specialty shops. And next week the Rothschilds will join as a junior partner with the U.S.'s Manufacturers Hanover Trust...