Word: wien
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...world's financial markets, overseas investors are gobbling up U.S. stocks at a $39 billion annual rate this year, adding to their previous holdings of $167 billion. In the first three months of 1987, the Japanese bought $3.5 billion in U.S. stocks, while the British spent $2.4 Says Byron Wien, domestic portfolio strategist for the investment firm Stanley: "The Japanese are buying at four times the rate of last year...
...facing some of his greatest challenges since he became Treasury Secretary in 1985. Baker, 57, is seeing many of his initiatives -- on worldwide economic growth, Third World debt and the alignment of currencies -- stymied. As a result, his aura of achievement has lost some of its luster. Says Byron Wien, chief domestic- portfolio strategist at the Morgan Stanley investment firm: "The initial enthusiasm for Baker and his initiatives has dissipated. We all hope he'll get his second wind...
...investors dumped speculative takeover stocks. This time, big institutions and foreign investors evidently believed the scandal poses no particular threat to their current strategy of snapping up basic industrial stocks, which the buyers think will be helped by a growing economy and a falling U.S. dollar. Says Byron Wien, a stock strategist for the Morgan Stanley investment firm: "The continued strength of the market shows that most investors do not believe the system is evil...
Malkin, the son-in-law of Lawrence A. Wien, after whom Columbia University's Baker Field is named, refused to comment at the time of his donation and could not be reached for comment yesterday...
...Jones industrial average has scaled one peak after another. Last week was the busiest in the history of the New York Stock Exchange, as the Dow jumped 58.03 points, to close at 1535.21. "The windfall profits from merger offers have sent a fever through the market," said Byron Wien, a Morgan Stanley analyst. In a recent study, the Goldman Sachs investment banking firm estimated that corporate takeovers have been responsible for nearly three-quarters of all stock gains since January 1984. Acquisitions have raised the value of target companies' shares an average of 30%. In one mighty leap, stock...