Word: money
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Dates: during 1950-1959
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...rising market, fewer in a falling market, thus making the funds a balancing force. This may be the shareholder's form of profit-taking, but it is more likely a sign of his confidence in the funds; when the market is uncertain, he feels safer with his money in mutual funds, but when he thinks it is heading for the sky, he succumbs to the temptation to take his money and get into a more lively stock...
...mild in manner, mellow in voice, retiring with all but his closest friends. He is an Overseer of Harvard, like his father before him, and a conscientious do-gooder who actively aids many a fund drive and charitable organization. Though he makes more money ($402,389 last year) than all but a handful of men in U.S. industry, he lives modestly, thriftily drives a 1955 Oldsmobile. He speaks and eats sparingly, never smokes, has a single drink of Scotch each evening (with an occasional "dividend...
...investors continued to pour their money into M.I.T., the trust moved into first place among the nation's mutual funds in 1936, with assets of $130 million (v. $15.1 million in 1930). Despite its bullish position, M.I.T. sailed through the sharp market break of 1937 with hardly a change in its portfolio; it simply put new cash into Treasury notes as a defensive measure. In that year, Dwight Robinson was rewarded for his work by being moved up to trustee. In 1954, when Merrill Griswold moved up to honorary chairman of the advisory board, Robinson slipped into his chair...
...deposits grew, Lewis helped his bank find better ways to put the money to use. Bankers give him much of the credit for a new New York State banking law passed in 1950 that enabled savings banks to invest part of their assets in stocks. He was the first president of New York's Institutional Investors Mutual Fund, an open-end stock fund for mutual savings banks that now has assets of $46 million. With it all, he was an easy man to work for: friendly, outgoing, a delegator of responsibility who enjoyed calling his staff "my family." Says...
...takes his learning where he finds it, slowly works out a philosophy ("Never Make an Offer. Budge only for Folding Money"). But he is no cynic, and he cross-questions would-be disillusioners sharply: "Now accordin' to you the newspapers ain't reliable. Is The Times lies? But if it's gonna lie anyway, why is it so borin'?" At eleven, Horatio knew "the local civics of the vice squad ... In architecture, how to make time bombs; in interpersonal relations, how to make zip guns ... In philosophy he knew that the Future Lies Ahead...