Word: rolland
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Dates: during 1980-1989
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...always, Kenneth Rolland, 51, arrived at his office on the 58th floor of the RCA Building in New York City's Rockefeller Center just before 8 one recent morning and immediately sat down to his regular staff meeting with two senior portfolio managers and two top traders. As an executive vice president of Chemical Bank, Rolland manages $11 billion in trust funds. One of his staffers told him that there was a rumor around Wall Street that Henry Kaufman, chief economist at the Salomon Brothers brokerage firm, had changed his forecast and was about to predict publicly that interest...
...Rolland called a friend at Salomon to confirm the rumor, and then acted fast. By the end of last week, he had moved nearly $1 billion into the stock market. Says Rolland: "Once we made up our minds, we never looked back...
...reason for the waves of big-volume trading was that cash-rich institutional investors such as insurance companies, pension funds and mutual funds have lumbered back into the market after months of sitting on their wallets while awaiting the outcome of the presidential race. Says Kenneth Rolland, an executive vice president of New York's Chemical Bank: "People think a Reagan Administration will cut Government spending and institute tax reforms that will stimulate investment and savings. Investors believe that the climate will be very good for financial assets like stocks." Adds Investment Strategist David Bostian of Bostian Research Associates...