Word: pros
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...usually the case in the early stages of any bull market, most of the buying-and profiting-has been done by the pros. Many corporate pension funds that cautiously kept about 50% of their assets in cash in the depths of the recession last winter are now about 70% invested in the market. Other institutions have made an even more dramatic turnabout. Philadelphia Investment Co., which had 75% of its assets in cash last fall, is now 75% in stocks. At New York's Marine Midland Bank, Vice President Richard Hobman acknowledges that "the vast majority of our cash...
...institutions have concentrated their buying on blue chips like IBM (up 25% since the start of the year), such glamour stocks as Fairchild Camera (up more than 257%) and Hewlitt-Packard (up 94%), and natural resource stocks, including domestic oil and, paper companies. Other recent favorites among the pros: Federated Department Stores, Sears and other retail chains that stand to benefit from an upsurge in consumer spending as inflation abates, purchasing power increases and the recovery gains momentum. Lately many mutual and pension fund managers have been looking kindly on new stock issues. Says Felix Juda, a Los Angeles broker...
...last month he suspended publication and fired the entire staff. Since then, he has taken some new recruits-including Editor Michael Parrish, former managing director of the monthly San Francisco, and Consulting Editor Rosalie Muller Wright, former editor of womenSports-across the country to talk publishing with some successful pros. Among them have been New York magazine Editor Clay Felker, New Times Publisher George Hirsch, Ms. Co-Founder Gloria Steinem and Sacramento Bee Managing Editor Frank McCulloch, a former TIME bureau chief who successfully launched the innovative monthly Learning. Coppola did not like what he heard. "Publishing is worse than...
Even the few black pros who have made the big-time tour have had their troubles with the regulars at Palmer. After the 1967 Buick Open, Charlie Sifford made tracks for the old park. "He came here and lost four days in a row," remembers one regular. "Then he went to Hartford and won the tournament...
...future of American soccer. Messing is very hopeful. "There's a need to Americanize more. The players have to go through the transition from high school and college to the pros for the fans to identify with them. The growth of the youth soccer program is doing just that, and within five years pro soccer will become successful...