Word: turning
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Dates: during 1950-1959
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...buyers, have needled the roaring bull market to artificial highs, that their constant buying, chiefly of blue chips, has helped create the present shortage of stocks. The funds' answer: they hold only 3.4% of all stock on the New York Stock Exchange, and do not hoard it; they turn their shares over faster than the exchange as a whole...
More important is the charge that, in a falling market, millions of panicky, inexperienced shareholders would redeem their shares, forcing the funds to liquidate huge blocks of stock and collapse the market. But Robinson cites the record to show that just the opposite has always occurred: more fund investors turn in their shares in a rising market, fewer in a falling market, thus making the funds a balancing force. This may be the shareholder's form of profit-taking, but it is more likely a sign of his confidence in the funds; when the market is uncertain, he feels...
...launching pad. Its book is drab and uninventive; its songs are also-rans, though the trumpet-tonsiled Merman voice is always in the winner's circle. Jerome Robbins' dance spoofs are designed to show how funny-awful vaudeville was, and by sheer glut and garishness turn pretty gaudy-awful themselves. A Mermanly try at playing up Mama's spunk and jollifying her sadism fails when the script itself belatedly acknowledges that Mama is a bundle of neuroses and no fun to be with. Sandra Church's Louise is poignant and luminous as she works free...
Much of the book uses reality merely as a springboard toward fantasy; characters may suddenly levitate or turn into werewolves. Also, there are boggy tracts that sound, and no doubt are meant to sound, like ads for Rosicrucianism ("large increments of love are released that are fermenting in the Fertile Void"). What emerges is an allegory on whatever the reader chooses-the perversity of man, the bright illusion of love, the red-eyed aurochs of war. Dotted throughout the book are moon-mad digressions-a plan to enroll farm boys in the Joy Scouts of America, hike them into Harlem...
...mendicant order. "Only poverty is holy," he quotes approvingly. "Moneytheism" is the tail-finned dragon that the tattered saints are fighting. All such beatnik absurdities would not matter if their writings and paintings had some value. But most of the art that Lipton's shaggy sufferers turn out is not better, he admits, than the weekend seascape by the vice president of a spark-plug firm...