Business: Victims of the Fall

THE stock market's $100 billion decline since mid-May has wounded every kind of investor—amateur and professional, neophyte and veteran, racy speculator and wary conservative. The psyche has been hurt as badly as the pocketbook, and the pain of loss is sharpened by the thought of what might have been. Though every investment is a risk, more investors than usual are furious at their brokers for having talked them out of selling last spring, when they could have cashed in rich profits.

Thurmond Shaddix, a bank clerk in Atlanta, bought the stock of a machinery-parts manufacturer, Breeze Corporations, at 20. When the shares...

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