Business: 100000

Wall Street prides itself upon its practicality, and its freedom from academic theory. Recently, however, it has been engaged in a curiously theoretical dispute. An innocent reader of the Wall Street Journal sent the editor a query as to how he could invest $100,000 to best advantage, 20% in bonds and 80% in common stocks. The Wall Street Journal published it, thereby casting a golden apple of discord throughout the financial community.

Several bond houses wrote back, politely but firmly discountenancing the notion of preferring stocks to bonds as investments.

Back of the dispute...

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