Word: towbin
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...issues are an illustration of capitalism at its best, or worst, depending on how you look at it," says A. Robert Towbin of L.F. Rothschild, Unterberg, Towbin, an investment banking firm that specializes in fledgling companies selling their first stock to the general public. The money these businesses raise helps them to expand, but the stock can be a high-risk game since these young companies are frequently dealing with promising but untested technologies in untried markets. Despite the uncertainties involved, investors are now rushing to buy the sudden surge of new stock issues as they dream of discovering...
Wall Street's Lehman Brothers has been one of the biggest floaters of growth stocks (Litton, Beckman, etc.). At first, most other big Wall Street houses showed little interest in the field. Smaller houses with low overhead and a hungry eye stepped in. Says Belmont Towbin of C.E. Unterberg, Towbin: "We've made 30 to 40 millionaires"-including himself. Wealth has worked no great change in the lives of most of the new executive millionaires. They are a new breed too interested either in their companies or in scientific research to indulge themselves with their new fortunes. Arnold...
...whole will do. These are the fundamentalists, the security analysts who spend their time studying the profits, prospects and management of individual companies rather than trying to fathom the market's movements. Nobody, they caution, "should buy the market," even when it is going up. Says Belmont Towbin, partner of the highly successful Wall Street underwriting firm of C. E. Unterberg, Towbin Co. (TIME, April 13, 1959): "The general movement of the stock market is the result of many variables. An error in judgment on any single variable can lead to the wrong conclusion...
...firm's first "glamour" underwriting came in 1952, when Venture Capitalist Laurance Rockefeller chose it to help market the stock of his Marquardt Aircraft. Another opportunity came when Unterberg, Towbin became interested in American Research & Development Corp., a venture capital firm that had invested in a number of exciting looking companies but was having trouble getting market recognition. The partners decided to help by making a market for the stocks, acquired an inventory of shares to trade. Because there was a public market in their securities, companies such as Air borne Instruments, Machlett Laboratories and Midwestern Instruments found that...
Unterberg, Towbin's holdings in its own nurslings have boosted the firm's capital from a mere $20,000 to more than $2,500,000 today. But though their ventures have been almost uniformly successful, and bigger underwriters have learned how profitable it can be to sign up for one of their undertakings, the partners are a little apprehensive about the current fervor for low-priced glamour stocks. "These days," says Towbin, "anybody with a soldering iron and a piece of wire calls himself an electronics company. We find only one or maybe two really good companies...