Word: teichberg
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Politics is also playing a role in the stock surge. Says Ignatius Teichberg, a vice president at Gruntal & Co. brokerage firm: "The market will continue to rise because the investment community anticipates a Reagan victory in November." One reason for this is lingering faith among investment managers in an old rubric that says that stock prices usually rise during election years, but they climb higher and longer when the Republicans win than when the Democrats do. But the Dow industrials have not risen in the first year of a Republican Administration since 1925, after Calvin Coolidge was elected...
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