Word: prudent
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...University of North Carolina's enduring Louis Round Wilson, 82, a prime mover in raising Chapel Hill to scholastic eminence, whose prudent management of the school's domed, 1,000,000-volume library (now named after him) made it one of the nation's best. Quaker-born Librarian Wilson graduated from Chapel Hill in 1899, there launched the South's first library science course in 1901, the school's topflight Extension Division in 1912, the University of North Carolina Press in 1922. Robert Hutchins lured him to the University of Chicago in 1932, where...
...Prudent...
...cover on A.T. & T., and the rise of American Motors' George Romney and the compact car. The result of the team work between Gart and Jamieson, and the story of the financial world's fastest-growing phenomenon, you can read in the BUSINESS cover story on The Prudent...
...mutual funds and the one that set the pattern for all the rest. M.I.T is a child of Boston, which has raised the handling of O.P.M. (other people's money) to the status of a fine art. The art was born of an 1830 court decision, the "Prudent Man Rule." In settling a suit charging a trustee with negligence in investing in common stocks, the judge held that a trustee for someone else's money need only "conduct himself faithfully and exercise the sound discretion" in investments that a prudent man would. This meant that Boston trustees could...
...Massachusetts Investment Trust the prudent man is Chairman Dwight Parker Robinson, 59, a prow-chinned, rock-ribbed New Englander whose family roots go far back into Massachusetts history. Tall (5 ft. 11½ in.) and lean, he guides the $1.5 billion investment of M.I.T.'s 203,000 shareholders (plus the $219 million of 67,000 investors in M.I.T.'s Growth Stock Fund) with such calm and confidence that he sleeps as soundly as he invests. As the boss of the world's biggest fund, he is the first to admit that there are no exact rules...