Word: stocked
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Dates: during 1960-1969
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Kennedy manipulated stocks and securities with a shrewdness close to genius. He sensed disaster approaching in 1929 and well extricated himself from the stock market before the crash. He made at least $1,000,000 by selling short when the panic came. "Only a fool," he told a friend, "holds out for the top dollar." Foreseeing the end of Prohibition, he cornered the franchise for Gordon's gin and several Scotch whiskies, imported thousands of cases "for medicinal purposes." When repeal came, Kennedy warehouses were bulging and ready for business...
Little Raquel Tejada (the last name means, in Spanish, "Spears of Clay") was born in Chicago on Sept. 5, 1940 (not, as she claims, 1942). Her father, Armand, is a Bolivian-born structural-stress engineer; her mother, Josephine, is of English stock. When Raquel was two, the Tejadas moved to La Jolla, Calif., a pretty, plasticized, middle-class community just north of San Diego. Raquel grew up in an all-American ambience that would have been a natural for a California Norman Rockwell. The family, which included Raquel's younger brother and sister, lived in a one-story stucco house...
...Società Generale Immobiliare (assets: $175 million), which has not only dotted postwar Italian cities with tower apartments but erected similar projects in Montreal, Mexico City and Washington, D.C., including the capital's most In address, Watergate. When word of the sale leaked out, jitters swept the Milan stock market; brokers feared that a liquidation of Vatican securities holdings might depress stock prices generally. Italian newspapers speculated that the Vatican was pulling its money out of Italy to avoid paying a dividend tax that has been a source of contention between the Holy See and the government...
Escaping the Onus. Actually, the sale of Immobiliare reflected the Pope's decision that church control of major Italian companies had become a liability. The Vatican owns some $200 million worth of stock in Italian firms. The church until recently either controlled or owned a substantial part of at least a dozen important enterprises, including cement-making Italcementi, paper-manufacturing Cartiere Burgo, pasta-making Molini Biondi and Vianini, a major engineering firm. The investments provide a handsome income to help defray the huge cost of running the papal establishment. But social unrest is growing in Italy. Anxious to align...
Rearranging the Portfolio. Moneymen expect that it will take the Vatican some time to shed all of its unwanted stock holdings. The church has retained a small number of Immobiliare shares, but recently sold its controlling interest in Italiana Condotte Acqua, a major construction firm, to a leading Italian holding company, Bastogi...