Word: money
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Dates: during 1980-1989
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Buck up, Mrs. Campbell, it could be worse. There are 1,500 financial newsletters being published at the moment, and many of them are on display at the money show: the Astute Investor, the Busy Investor, the Patient Investor, the Contrary Investor, the Cheap Investor and so on. Most of them are solo operations, and one editor describes them unabashedly as the "alternative press" of the era. The wished-for kinship is not with some Age of Aquarius tabloid, of course, but with pamphleteers like Thomas Paine and Alexander Hamilton. The newsletter gurus see themselves as disabusers of Wall Street...
...tells his audience, comfortable in the subtle distinction that what he thinks about roughly 14 hours a day is companies, not market fluctuations. He espouses the solid, old-fashioned idea of buying good companies cheap and sticking with them long-term, with the added fillip of using borrowed money to maximize returns. Right now he is margined up to his Adam's apple, being just about the only person in the house who still thinks the market's heading up. People regard him with a fascination and solicitude otherwise reserved for a condemned man on the gallows. "It will happen...
...money counts, of course, but perhaps not so much as puzzling out the future and proving that everybody else has it wrong. Charles Githler, who is sponsoring this money show, captures the visceral quality of the obsession (though with a blithe disregard for mixed metaphors) when he introduces the editors: "They'll really spill their guts. They'll put their necks on the line, and then let you fire back with your questions...
...freebies). The title, "How to Profit from a World on the Brink," suggests several interesting possibilities: a) starting a financial newsletter; b) playing host to an investment conference and bringing in dueling newsletter editors for entertainment; c) before you subscribe or attend, locking up all your money in a certificate of deposit at 10%; or -- and we have to admit we like this one best, diversification being a very big idea in the investment world -- d) all of the above...
...have had to examine our self-reliance. When the U.S. was a fully committed member of ANZUS, we had two days' ammunition and no spare parts. Well, we have had to change that, and it has cost us. We have had to spend money for equipment that otherwise would have been provided by the U.S. on the former paternalistic basis. Our message is that our position on the nuclear question is resolved, and it will continue. We are disposed to be cooperative with great powers and small powers, but we will not do so at the cost of our nuclear...