Word: stocked
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Dates: during 1960-1969
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That knowledge is important, for along with the large institutions, some relatively small brokers often come close to controlling markets in the stocks of small but "glamorous" companies. It is no trick these days for a broker to have $20 million in buying power. If he is attracted to a company that has few shares outstanding, induces his customers to buy the stock, and puts only 5% ($1,000,000) of his buying power into it, the demand is likely to drive the stock up simply because its supply is so limited. Many brokers tend to favor lower-priced issues...
...chart-covered offices of banks, brokerages and mutual funds, computers constantly scan the stock lists to spot companies or entire industries that appear to be breaking out of their usual earnings pattern. Once an uptrend is noted, word quickly gets around; analysts go to the same meetings, tend to eat at the same places. They constantly talk with each other on local or long-distance phones. Brokerage houses also pass on their research findings to mutual funds and other institutions in hope of landing their enormous commission business. Says an officer of one Boston-based mutual fund: "A stock often...
Trying to outguess that uncertainty can be particularly frustrating to small investors. Why, for example, when a company announces higher earnings, does its stock so often go down? In their jargon, brokers and analysts say that they have already "discounted" the news-meaning that they anticipated it and "sold on the news." An investor might also think that market averages will fall when other small investors sell more stock than they buy. In fact, markets often go up because professionals figure that small "odd-lotters" overreact and are generally wrong...
Ambition v. Talent. Despite that assurance, the news stoked fresh doubts about conglomerates; some of them, warned American Bankers Association President Howard Laeri, "may turn out to have more ambition than talent." Such fears were quickly reflected on the stock market. Last week Litton's common stock, which sold for over $120 a share last October, closed at $73.37. Other conglomerate stocks, including Teledyne and Ling-Temco-Vought, also dropped sharply...
...Chief General Manager William Davidson, has stressed industrial accounts and expansion in the Midlands and northern England. And British banking's belated reach for efficiency seems likely to bring more mergers soon. Lloyd's Bank, now No. 3 in size of deposits, last week became a stock market favorite to take over sixth-ranking Martins Bank, which is looking for a partner...