Word: mutuals
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Dates: during 1950-1959
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...duction to finance by covering the frenzied Toronto Stock Exchange and its volatile penny stocks. He also got his first market blooding (he lost $4.98). Back in his native Boston, Gart got a different view of finance in the tradition-laden world of M.I.T. He learned a lot about mutual funds, but little about the bonus : some hot tips on the stock market. Only at the very end did M.I.T.'s closemouthed men loosen up enough to venture that M.I.T. looks with favor on such true-blue chips as IBM and U.S. Steel...
Fair Division. World Bank President Eugene Black welcomed the idea, and both New Delhi and Karachi accepted the bank's good offices. But years of hard work failed to temper nationalistic passions. Suggestion after suggestion fell through; scheme after scheme foundered in a sea of mutual antagonism. Doggedly, the World Bank continued its efforts, and last month in Washington won agreement from India and Pakistan to a fair division of the water flow until March...
Benny sought out a broker, told him of his yen to invest-though he hardly knew a stock from a bond. Having met hundreds of Bennys, the broker knew just what to do. Benny, he said, should invest in shares of a mutual fund. By last week Benny Hall's investment of $5,000 had grown to $20,000 without his putting in another penny. With his nest egg bigger than he had ever hoped, Benny has used his salary and the returns from the sale of his house to buy a $30,000 home, plans to take...
Last week some 4,000 investors a day, with a similar desire to see their money grow, were plunking $10 million daily into mutual funds, which offer an almost irresistible lure: the chance to make a profit with a minimum of risk and worry. The investor entrusts his money to an organization that invests it in dozens-sometimes hundreds-of U.S. companies, spreading his risk as wide as the economy. Even more important, he also buys savvy in the stock market, letting the fund managers do his buying and selling for him. Says a St. Louis businessman who gave...
...These Are My Hogs." Mutual funds sing a melodious song: cash in on a growing economy and build a valuable hedge against inflation. They have taken the specialized world of Wall Street and put it within reach of every man with enough money to buy a fund share, which is kept low-priced, usually between...