The studies, which constitute this chapter, are presented as a source of concrete data on the origin, functioning, and record of several investment companies of different types. Obviously, space permits discussion of only a few among the companies in the field. Those chosen do not necessarily have the most out standing records, but their experience offers the investor the opportunity to gain some understanding of the operations of different types of investment companies. This understanding can be obtained best by considering specific case histories.

THE LEHMAN CORPORATION

Origin

The Lehman Corporation was organized in September 1929, on the eve of the collapse of the stock market. Because of its long existence, its size, and the integrity of its management, the corporation has come to typify in the public mind the closed-end investment company which has a single class of stock and a policy of investing largely in broadly diversified common stocks. From the outset, The Lehman Corporation has been identified with the investment-banking firm of Lehman Brothers. Certified Financial Planner - Read More.