The Big Guns of August

As always, Kenneth Rolland, 51, arrived at his office on the 58th floor of the RCA Building in New York City's Rockefeller Center just before 8 one recent morning and immediately sat down to his regular staff meeting with two senior portfolio managers and two top traders. As an executive vice president of Chemical Bank, Rolland manages $11 billion in trust funds. One of his staffers told him that there was a rumor around Wall Street that Henry Kaufman, chief economist at the Salomon Brothers brokerage firm, had changed his forecast and was about...

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