Word: stockely
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Dates: during 1970-1979
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Lance's shares of NBG stock have slipped since January from $15 to $11 per share, diminishing his net worth by some $760,000. A conservative estimate of his other stock losses is about $280,000. In his January statement, Lance failed to disclose that he was the ultimate guarantor of $250,000 in debts incurred by his 1974 gubernatorial campaign. Counting all his liabilities, Lance now probably has an estimated worth in the vicinity of $1.3 million-50% less than ten months...
Nowhere is uncertainty more pernicious than in the stock market. The Dow Jones industrial average, down more than 16% so far this year, closed last week at 839.14, down 17.67, its lowest level since December 1975. Some members of the Board of Economists are fearful that the drop will have an unsettling psychological effect on the whole economy. One reason is that the market is regarded as a highly visible-but far from infallible-indicator of future business trends. Studies have shown that over a 100-year period, of 43 expansions and recessions, stock prices anticipated 75% of the business...
...fortnight ago, the pacesetting 30-share Financial Times stock market index reached an alltime high of 549.2, six points above its previous record in May 1972. Profit taking and some unfavorable corporate reports have since eroded prices somewhat; last week the FT index closed at 504.7, still a spectacular rebound from its nadir of 146 in January...
...plenty of thinking about just that. As a result of heavy cash in fusions from abroad, the price of sterling has risen sharply from a low of $1.55 in 1976 to $1.74 last week. As the funds accumulated, the Bank of England steadily reduced interest rates, thereby providing the stock market with the boost that helped bring the current flurry...
...conversations along the buffet table consist mostly of insurance firm gossip, lamentations about the stock market, and the latest round of fifty-year old debates on the relative merits of the Yankees and the Red Sox. But this year, more than a few alumni mentioned either excitement or concern about the possibility of Harvard launching a major capital fund drive, the first such drive here since the mid-fifties...