BUSINESS ABROAD: The New Capitalists

A clerk in one of Britain's largest investment trusts last week shook open a soiled manila envelope, and out fell a wad of crumpled £5 notes, accompanied by a crudely scrawled order to buy stocks. "The man probably had the money in his mattress for 25 years,'' said a fund executive, "but we're getting used to this sort of thing." This "sort of thing" was such a rush to buy shares in British corporations that the Financial Times's share index soared to 259.7, up from 188.1 last fall. Many a broker grumbled that...

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