Word: mutuals
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Dates: during 1960-1969
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...rethinking of strategy by Ho Chi Minh and his men. The allies generally assume that orders from Hanoi take around four weeks to filter down to Communist troops in the South. If President Nixon's eight-point Viet Nam proposal of May 14, which included a plan for mutual troop withdrawals, caused a reevaluation by the North Vietnamese, then orders implementing any changes would have reached Communist units by mid-June-just about the time the lull began. The theory is bolstered by the fact that a push, expected by American intelligence for June 19 or 20, was hurriedly...
...first victims of Washington's assault on inflationary psychology are the 100 million Americans who either own shares or participate in the stock market indirectly through pension funds and mutual funds. For many families, tumbling stock prices have at least temporarily shattered some cherished dreams. Yet the market's unsettled state brings a wry kind of cheer to Washington's inflation fighters. In their rather clinical view, stock prices are much like spinach prices or durable-goods orders: an economic indicator. Because the market mirrors investors' expectations of the performance of U.S. business...
...professionals have fared no better. George Miller, senior vice president of the San Francisco firm that manages the $544 million Commonwealth Group of Mutual Funds, encourages his analysts to invest with their own cash. "Virtually without ex ception, they are losing money now," he reports. Dr. Shannon Pratt, director of the Portland (Ore.) State University Investment Analysis Center, estimates that the value of his own stocks has dropped 23% since May-a period during which the Dow-Jones industrial average has gone down 15%. He invests largely in over-the-counter stocks, which rose faster than most listed shares during...
...accusation was leveled by Senator William Proxmire after Budge ad mitted that he had considered an offer to become president of the six mutual funds managed by Investors Diversified Services, the biggest company in the fund business. Budge eventually declined the $80,000-a-year bid, but only after pondering over it for more than two months. A Senate banking subcommittee has called on him to explain how he could justify negotiating for a job in an industry that the SEC regulates...
...than the funds themselves, but the funds' activities are hardly outside the scope of its concern. New Hampshire Senator Thomas J. Mclntyre noted last week that the SEC had unsuccessfully advised the Senate Banking Committee to soften the language of a bill that would limit the fees that mutual funds can charge investors. Senator Proxmire said that he was "shocked" that Budge would negotiate for a fund job while that legislation was still pending. Other Senators also expressed chagrin. The bill has been passed by the Senate, but the House has not yet taken...