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A Wish List for the Next 50 Years
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Trade Publication Article
A Wish List for the Next 50 Years
2019
Overview
A half-century ago, analysts carried slide rules, computers worked with punch cards, and New York Stock Exchange member firms stopped trading on Wednesday afternoons to sort out trades that their analog back offices couldn't process. Observe Amazon Prime's inroads on the Post Office and 4G technology's success versus the dial-up modem. Because we're impatient, we value income today more highly than income tomorrow. For decades prior to 1958, stock dividend yields topped high-grade bond yields for the reason that junior securities are riskier than senior ones; in bankruptcy, the bondholders stand at the front of the line for repayment.
Publisher
Dow Jones & Company Inc
