Word: musts
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Dates: during 1950-1959
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Although the group has been using "Harvard" in its name for two years, it has never submitted a constitution to the Dean's office, Khan said. Dean Watson must approve all organizations which plan to use "Harvard" in their name...
...cited the "Rough Rider's" belief that America's foreign policy "must rest on strength," and that "force should be at the back of righteousness...
Shortly after the market closed, the Federal Reserve Board raised margin requirements from 70% to 90% (buyers must put up 90% cash on their stock purchases), the highest requirement in eleven years. The Fed said it was alarmed by the rise in public borrowing to buy securities (which reached a record $4.3 billion in September), wanted to protect the public from getting in too deep. Actually, the public, i.e., small investors, has been getting out of the market since June...
...earnings can come back fast (see below). Thus, though stocks in historic terms are overpriced (18 times earnings for the industrials), many Wall Streeters are using a method to evaluate them which simply disregards the present. Said Edmund W. Tabell, top market analyst for Walston & Co.: "What an investor must do is take an average of earnings over the past five years [$32 for the industrials], measure it against projected 1959 earnings [now being quoted at a record $40], and come up with something in between. What happens? By overlooking 1958 earnings, you are not really paying 18 times earnings...
...King Must Die, Renault...