Word: unterberg
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...Founder Steven Jobs, the Macintosh is based on the technology developed for the Lisa but will sell for only $2,500. Experts estimate that Apple will sell 350,000 Macintoshes next year, in contrast with 46,000 Lisas. Says Analyst Michelle Preston of Wall Street's L.F. Rothschild, Unterberg, Towbin: "Mac is the future of Apple...
...long haul, Bendix may indeed have been wise to buy into RCA, despite the unusually tart reaction. The only risk for Bendix is that RCA's price will fall. For that one chance of failure, however, there are several of success. Says Analyst James Magid of L.F. Rothschild, Unterberg, Towbin: "Bendix just put its money on the table and now can sit back and wait. The long-term value is there...
...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...
...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...