Word: moneymen
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...moneymen, however, predict that the dollar will fall back to the depths reached in late 1979. International experts generally believe that the U.S. is finally confronting its inflation problems, and they are betting that this will mean a stronger dollar in the future. Says Joop van Kessel, an economist at the Amsterdam-Rotterdam Bank: "There is a general feeling that things are working for the best in the U.S. That confidence has a lot to do with Reagan's cowboy image and strong personality." Even European government officials, who have been battling to bolster their currencies, give Reagan...
...Moneymen are risking more cash than ever on daring entrepreneurs...
...bold moneymen look for entrepreneurs who cannot get funding from bank loans, new stock issues or other conventional sources. They also usually seek out firms in the forefront of a new industry. The odds may be long, but the return can be high. Says Donald Ackerman, 47, senior partner of New York's J.H. Whitney.& Co.: "One large winner takes care of a lot of mediocre situations and even an occasional loser. This is not a game for little investors...
...professor from U.C.L.A. and a vice president from Abbott Laboratories near Chicago, raised an astonishing $19 million earlier this year. That was the third largest amount ever given to a venture firm. Although the initial risk and rewards of venture capital belong mostly to the small select club of moneymen, the eventual winner will be the entire U.S. economy. The innovative companies that venture capitalists find and then foster will manufacture new products, provide jobs and increase productivity in the industries of the 21st century. Today's startups, which have names like Hybritech, Thermo Electron and Collasen, may some...
...least 15%, corporate treasurers have been postponing bond sales and covering their money needs on a week-to-week and month-to-month basis in the short-term market. In June alone, business demand for such credit jumped at an annual rate of 32%, to $319 billion. Moneymen speak of a "shadow bond calendar" of $10 billion to $15 billion in potential corporate debt that has been waiting to surge into the long-term bond market once interest rates come down...