Word: mutuals
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Dates: during 1980-1989
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Iran's ambassador to the United Nations, Said Rajaie-Khorassani, said after Reagan's speech his government has "made certain conditions" for a continuation of the diplomatic efforts, and if they are met, a "mutual understanding will develop...
...think it is good to build a relationship with Iran, but relationships can't be bought," he said. "A relationship is achieved by building good communications and mutual understanding," said Fisher, who praised communications with Iran but criticized the arms sale...
That kind of fast-as-light trading has made immediate information a vital concern. On his morning drive to his office in Manhattan's midtown General ! Motors Building, Howard Stein, chairman of the $35 billion Dreyfus group of mutual funds, stays in minute-by-minute touch with price moves of 72 selected stocks on a QuoTrex sideband FM receiver. The QuoTrex system uses the Security Industry Association's computerized data base, to which all U.S. exchanges report via the Intermarket Trading System...
Increasingly, the big movers and shakers direct their funds not only in and out of U.S. stock markets but abroad. Last year Americans bought additional foreign shares worth $12.8 billion, bringing their total overseas stock ownership to some $41 billion. The number of U.S. mutual funds devoted exclusively to foreign equities has nearly doubled in the past two years, to 43. Foreigners, on the other hand, bought $30.2 billion worth of U.S. stocks last year, bringing their holdings to $126 billion. By last June that total had climbed again, to more than $139 billion...
...same bets as the big boys. Now you might need $9 million to play." He adds, "If you're not computer sophisticated, you're behind the eight ball. As a practical matter, small investors can't compete in program trading." Unless, of course, they become institutional investors themselves through mutual funds, which seem likely to continue to grow...