Word: sec
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Dates: during 1960-1969
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...number of mutual fund investors (3,000,000) is greater than the adult population of Chicago, and the value of their holdings ($21 billion in 6,000,000 accounts) exceeds the gross nation al product of Australia. The typical mutual fund buyer, reports the SEC, is a high school graduate in his mid-40s, who is married, has two children, and earns...
...third and last installment of its report, the SEC charged that many such unsophisticated investors are in poor company when they put their trust in certain mutual funds. The SEC's 65 special investigators documented what the industry's leaders have known and tolerated for a long time: fund buyers are often overcharged, fund salesmen are usually undertrained, and fund executives sometimes exploit their inside information for personal profit...
Front-End Loaders. The SEC did not by any means condemn all mutual funds, but centered its fire on the "contractual" funds, in which the investor signs up to buy regular monthly shares over a period of years. The commission, or "load," on mutual fund sales is typically 8.5%, plus a "custodian's fee" of 1% to 3%. What irked the SEC study group is that commissions commonly run to 50% during the first year of the so-called "front-end load" plans, in which more than 1,000,000 small investors have contracted to make monthly payments...
...Polaroid people are convinced that only a truly skilled bungler will be able to ruin a picture with the new Automatic 100 Land Camera. It has a battery-powered shutter that measures the intensity of the light and sets the shutter speed (as high as 1/1200 sec.) at the instant the picture is snapped. The film - either color or black and white - comes in a flat pack that slides into the camera with no threading necessary; and the 31-in. by 41-in. pictures are developed and printed by means of a chemical process built into the film...
...soft X rays cause a soft glow when they hit the atmosphere, but they are dissipated long before they reach the earth. There are also small amounts of gamma rays. Like the X rays, these are electromagnetic radiation that travel with the speed of light (186,000 miles per sec.). Following behind at less than one-tenth the speed of light come neutrons from the nuclear reaction. Most of the rest of the energy released goes into the vaporized debris of the bomb and its casing, which expands into space at less than 200 miles per sec...