Word: prudent
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Harvard followed a conservative market strategy through the 1960s, when other investors were taking ever-larger risks, and today--though it remains prudent compared to most private investors--Harvard is buying more stocks. "We think stocks got over-valued from 1950 to 1972, and now there's a pendulum swing the other way," Putnam says. "We're taking this as a long-term opportunity to get some damn good stocks cheap," Cabot says...
Their deficiencies as overall interpretations did not drain the single-factor theories of the capacity for furnishing specific insights to the prudent scholar...
...though the purchases so far have not been huge, and will at most mean an increase in stock holdings of roughly 10 per cent, that's a significant move for Harvard's exceptionally prudent money managers--a sign that they believe the Fed's program will help the economy in the long run and revive both the markets and Harvard's latest investments...
After lunch I resumed my rebuttal until Chou suddenly, matter-of-factly suggested the summer of 1972 for the President's visit, as if all that was left was to decide the timing. He added that he thought it prudent if we met the Soviet leaders first. I replied that the visits should take place in the order in which they had been arranged?first Peking, then Moscow. I did not have the impression that Chou was unhappy about this...
Pension fund managers, struggling to keep their pots of money intact, have begun to look beyond the blue chip stocks and bonds in which they have traditionally invested. In June the Government eased the rule limiting pension fund investments to only those that a "prudent man" would make. Now pension funds can invest in real estate or gold or even Picassos and Chinese porcelain. Eastern Air Lines pilots have almost 10% of their $250 million pension fund in Atlanta warehouses, Kansas City shopping centers and Southeastern forests. Such investments seem attractive at a time of rising prices for tangibles...