Word: redeemability
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More important is the charge that, in a falling market, millions of panicky, inexperienced shareholders would redeem their shares, forcing the funds to liquidate huge blocks of stock and collapse the market. But Robinson cites the record to show that just the opposite has always occurred: more fund investors turn in their shares in a rising market, fewer in a falling market, thus making the funds a balancing force. This may be the shareholder's form of profit-taking, but it is more likely a sign of his confidence in the funds; when the market is uncertain, he feels...
...monetary gold. But there is a question how long the U.S. can afford to lose gold without feeling it. By law the Treasury must have gold reserves equal to 25% of the Federal Reserve's notes and deposits, or about $12 billion. It also must be able to redeem some $16.6 billion in foreign time deposits in U.S. banks, foreign-held U.S. Government securities and similar claims. In the unlikely event all foreign claimants demanded to be paid off in gold at once, the gold backing for U.S. currency would drop to $3.7 billion, a third of the legal...
...generations, and have long since sold their birthright for a mess of corn liquor. The only thing left is the peeling old plantation house, and there the last of the Compsons live on the charity of the hero, who has become a Compson by adoption and is determined to redeem the family name...
Last week in Ghaziabad (pop. 50,000), near Delhi, dark Kali reasserted herself through a dirt-poor street sweeper. Hari Singh came home one day to find that his two pigs had wandered off and were locked up in the pound. He had no money to redeem them. That night as he slept, Black Kali came to him in a dream and told him what he must do to get his pigs back. The next...
...Arthurian cycle. It is no mere escapism that drives him back, but what a friend calls "his dedication to the cause of gentleness." Facing 20th century life, Terence Hanbury White finds himself, more than ever, agreeing with Malory's publisher Caxton on the virtues that might redeem the time: "Chyvalrye, curtoyse, humanyte, frendlynesse, hardynesse, love...