Word: stocked
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Dates: during 1960-1969
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...manages the $544 million Commonwealth Group of Mutual Funds, encourages his analysts to invest with their own cash. "Virtually without ex ception, they are losing money now," he reports. Dr. Shannon Pratt, director of the Portland (Ore.) State University Investment Analysis Center, estimates that the value of his own stocks has dropped 23% since May-a period during which the Dow-Jones industrial average has gone down 15%. He invests largely in over-the-counter stocks, which rose faster than most listed shares during the bull market but dropped more sharply during the current slide. A young stock salesman...
...investors missed the market slide. An Atlanta woman sold her stocks in May and put the $23,000 proceeds into underdeveloped land. "I won't have to worry about it every day," she says. Thomas H. Chmielewski, 29, a business planner at General Electric in Manhattan, has minimized his losses by buying in the Japanese stock market as well as on Wall Street. Last spring he put $6,000 into Nomura Securities Co., an investment banking house, and $4,000 into Ikegai Iron Works, a machine-tool company. Ikegai has risen slightly; Nomura declined, but nowhere near as much...
While investors are brooding over the deterioration in stock prices, their brokers are grappling with many longer-range problems that will importantly affect the future of the securities business. Should brokerage houses be permitted to sell their own shares to the public? What kind of commission discounts should the stock exchanges give to the big institutional investors? The answers to these and other basic questions will depend largely on the views of the Securities and Exchange Commission, Washington's watchdog over Wall Street. The times would seem to call for a tough-minded decision maker as SEC chairman...
...regulation that would apply the requirements of the Truth in Lending Act to margin loans has been debated since May without a decision, and no final action has been taken on a proposed rule regarding corporate names. Under the rule, a company's registration statement to sell stock would be deemed misleading if the company's name contained such words as "missile" or "space" but the firm did no work in those fields...
...that the SEC staff has continued to press stern disciplinary actions against brokers suspected of manipulations. The SEC has also been prodding brokerage houses to clean up the continuing paperwork mess in back offices. On the major issue of overhauling commission rates, however, Budge has left it to the stock exchanges to develop detailed proposals. He believes that the SEC should only act as devil's advocate, asking questions about any proposed changes to make sure that no important considerations are overlooked. This approach annoys some high stock-exchange officials, who want specific guidance as to what sort...