Something was effervescent in mutual funds. Funds “specializing in growth and scientific stocks hit the jackpot in the closing weeks of September,” Barron’s wrote on Nov. 1, 1965. Turning up commonly among the many funds’ largest holdings had been names like IBM, Xerox, Eli Lilly, General Electric, and Gillette.
A couple of months later, funds that had “packed their portfolios” with “glamour stocks” had been having fun with “a sparkling market performance,” we wrote. Led by corporations like Johnson & Johnson, Eastman Kodak, 3M, IT&T, Polaroid, Revlon, and…
