Word: walls
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Dates: during 1980-1989
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...talking theory. During the past several years, Beusman has dumped $300,000 worth of stock, more than 80% of his holdings. He is far from alone. Eleven months after last year's crash, most individual investors are avoiding stocks as if they were poison. Some Wall Street executives fear that many of these investors may be leaving the market for good, to the detriment of brokerage firms and future bull markets. Says Hardwick Simmons, vice chairman of Shearson Lehman Hutton: "The small investor is an endangered species...
With good reason. Insider-trading scandals, capped by this month's sweeping fraud charges against the investment firm Drexel Burnham Lambert, have convinced small investors that the Wall Street game is best played by the well-connected. Faced with the market's volatility in the past year, intensified by program trading, these investors fear getting caught up in avalanches beyond their control. At the same time, rising interest rates are attracting them to secure, fixed-income investments, typically bank certificates of deposit and Treasury bonds. The small-timers' absence from the stock market is dampening the averages and reducing business...
Such widespread avoidance of Wall Street is producing some painfully quiet days for traders. A year ago, volume on the New York Stock Exchange often exceeded 200 million shares a day. Since the crash, it has typically reached just 160 million shares. Meanwhile, the Dow Jones average has drifted down from a high of 2169.45 three months ago to a low of 1978.66 during August. Last week the stock market was buoyed somewhat by a sharp improvement in U.S. trade: during July the spread between exports and imports narrowed to $9.5 billion, down from a $13.2 billion deficit the previous...
According to the owners of the restaurant, Ta Chien is alive and living in Taiwan. He likes hot, spicy food. That's the wole story, were not the mystery rekindled by the limited edition Ta Chien print on the wall. It is a landscape, viewed through a peculiar window a foot high and perhaps ten feet long. There are sea, land and river mouths, but the whole is rendered abstract and emotionally disturbed by the odd shape and the subtle colors. It is a plain and impenetrable as Dylan's "Sad-Eyed Lady of the Lowlands," despite helpful paper signs...
...week a lawyer in Philadelphia filed the first suit on behalf of stockholders in the companies listed in the Government's case. As Drexel's legal troubles proliferate, they are already transforming the firm from an aggressor feared by competitors into an embattled defender of its prominent place on Wall Street...