Word: profiteer
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Dates: during 1960-1969
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...gentle waters seem too distant, try Tuesday's card at Rockingham Park. In praise of The Scientist--the selections have won 30 per cent of the time and show a profit of $41.80 over the summer for the minimum two dollar bet. Drive North on route No. 93 to reach the Rock...
...parts manufacturer, Breeze Corporations, at 20. When the shares hit 37 in May, he asked his broker if he should sell. The broker advised holding for larger gains. The price has since dropped to about 14, giving Shaddix a 30% loss on an investment that once showed an 85% profit. "I'm really burned about that one," says Shaddix, who also has a small loss in some blue chips...
Sour Tips. Quite a few investors protest too much. "I'm wiped out, man," says Larry Thomas, 26, an Atlanta insurance agent. In fact, he has a profit. The computer stock that he bought at 12 on a tip from a friend now sells at about 141, and his $9,600 initial investment is worth around $11,600. That, however, is less than one-third of the $37,600 he counted on paper last spring, when the stock briefly touched...
...moon rocks is also legitimate under the treaty, a point not likely to be contested in view of the fact that the U.S. will share the information it gleans from the samples with scientists of all nations. But the U.S. is prohibited from making a profit on the rocks. If commercial mining of the moon's resources becomes feasible some day, it would probably have to be done under international license and regulation...
Disheartening Earnings. The stock market faces some problems it did not have in 1966. Investors are worried about the likelihood of higher taxes on capital gains and a reduction in the oil-depletion allowance (see THE NATION). Corporate profits are another disheartening factor. Earnings remained at record levels all through the 1966 market slide. This year most companies reported rises for the second quarter, but there have been some major exceptions, notably in steel, autos and airlines (see following story). Compared with the second quarter of last year, earnings fell 17% at Kaiser Industries, 17% at General Motors...