WALL STREET: Caught Short?

If any of Wall Street's 1,200-odd market advisers had urged their clients five months ago to "buy Kaiser-Frazer stock and double your money," he would have been hooted at. On the New York Curb Exchange, where the stock steadily dropped from its $20.25 offering price to a low of 5 last May, it was considered shrewd to be "short" on Kaiser-Frazer, i.e., to bet it would go lower.

But last week, anybody who had bought K-F stock at its May low, and kept it, had more than doubled his money; the stock had climbed steadily to the year's high of 11¾....

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