Word: stockings
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Dates: during 1980-1989
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Computers blink, phones ring, traders frantically shout buy and sell orders in a verbal version of hand-to-hand combat. A typical day on the New York Stock Exchange...
Aftershocks from October's stock crash rumbled through Wall Street last week as several shaken brokerage houses took steps to bolster their financial health. First, Paine Webber agreed to sell up to 25% of its stock to Yasuda Mutual Life Insurance of Japan for $300 million. The brokerage, which lost $16.5 million in October, welcomed the investment as a defense against takeovers...
...quite. The traders here talk mostly in verse: "That's $80 million on his initial three. And that's from taking a risk instead of a fee." The setting is a stage, and quips fly as fast as stock tips. Serious Money, a new play by Britain's Caryl Churchill, opened last week at Manhattan's Public Theater. The comedy is already a critical and popular smash in London's West End, where it has played to sellout audiences since July. Written as a bawdy, irreverent look at the greed that, in Churchill's view, has permeated London's financial...
...Christmas as usual. America's jingle-jangle shopping spree seems muffled so far this year. As customers browse among the cashmere sweaters and compact-disc players, many are having doubts not only about this month's expenditures but also about their whole philosophy of buy, buy, buy. The October stock-market crash and the likelihood of an economic slowdown next year have rekindled the feeling that Americans must reform their spendthrift ways. "Consumers are so far out on a limb," declares Economic Consultant A. Gary Shilling, "that the crash has shocked them into an agonizing reappraisal of their conduct...
Harvard's portfolio now holds more bonds than in the past and is taking "a historically low equity position" said Cabot, who would not specify the exact bond to stock ratio. The endowment has fluctuated since the market plunge, but currently remains at about the $3.85 billion level, he added...