The turkey of the week was . . . Gold. Which was also as it happens the turkey of the year, of the decade, and of the generation. The price of the now only theoretically precious metal descended below $300 dollars an ounce for the first time since March of 1985. The immediate cause was the growing realization among central bankers that it might be more sensible to keep their countries' wealth in something that actually paid an annual return and might even have a chance of actually rising in value from time to time.
Louis Rukeyser on Wall Street Week (11/28/97) IPOs are not only risky, but unless a manager's timing rivals Jerry Seinfeld's, they're not great investments.
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