WSW: Louis Rukeyser's Wall Street Summary & Discussion $treet
- Rande
- Rande
- Kirk
- Rande
- BumpyBrown
- Kirk
- BumpyBrown
- SteveT
- SteveT
- Kirk
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» Rande - Speaking of LR.
Speaking of LR.....Here’s some gems from the latest “Louis Rukeyser’s Mutual Funds” newsletter (April 2000):
The Stubborn Investor and His Money Are Soon Parted
When Peter Lynch allows as how his insistence on knowing what he owned kept him from investing in technology stocks, that was a workable philosophy for the 1970s and 1080s – but proved to be a losing strategy for anyone who adhered to it in the 1990s. Those who steered clear of tech stocks over the past decade have missed out on the market’s greatest rewards. [read the next sentence VERY carefully] Similarly, those who made it a point of honor never to own anything even remotely connected to that crazy Internet mania may feel wonderfully self-righteous, but they are certainly poorer than those who eschewed such sweeping view. [wow]
This thought about the need for flexibility in a sensible philosophy is prompted by several developments in the world of money this past month. [goes on to talk about Buffett’s mea culpa and praises the Sage for being “flexible” and admitting his errors] Not every graduate of the value school of investing has been showing similar flexibility.
Great perspective in an ever-confusing investment world.
-- posted by Rande
» Kirk - Bill Gross from PIMCO
Author: SteveTDate: April 5, 2000 12:42 PM
Subject: Spreads
Looks like the 30 year treasury closed @ 5.795% and the 10 year @ 5.882%. Seems like for now the spread is narrowing. Looks like a good sign to me. Be sure to watch Wall Street Week on Friday Night. Bill Gross from PIMCO is the guest scheduled.
Steve Thompson
Thanks Steve.
I want to set my VCR for this one (windsurfing season is here so I often am not home)
-- posted by Kirk
» Rande - Don't want to miss this one either.
Don't want to miss this one either. Amazing the caliber of guests Rukeyser attracts. Everyone from Abby Cohen to Arthur Levitt to Alan Greenspan. Should be interesting to see what Gross has to say about the "new era" state of affairs in the bond market.-- posted by Rande
» BumpyBrown - Lou's spin on this week should be interesting
Gail Dudak (aka the banished elf) appeared on CNN's Street Sweep after the closing bell, looking pretty smug.Any predictions on the Elves Index? It has been +8 forever, seems like. I would think that maybe one analyst will go neutral, putting it at +7, but I can't see them going any lower.
-- posted by BumpyBrown
» Kirk - Halo
They should put a halo around an empty chair with a dunce cap on it to honor Gail being right for a change!I can't wait for Lou to scold all for thinking that the US economy was going to hell because Janet Reno decided to attack our profitable companies at the same time too many people are working, making money and spending it! Lou does have a way with words to scold the foibles of the investment crowd.
-- posted by Kirk
» BumpyBrown - Vote for Gail!
Lou's running a "hall of fame" vote for "viewers favorites". While I'm a bull through-and-through, Gail Dudak's de-elfing was not very deft, to say the least.This presents an opportunity to give her a little of her due for having the market finally match her long-standing bearish outlook. As long as his handlers aren't sanitizing the results, Lou may get the message as well.
-- posted by BumpyBrown
» SteveT - Good show May 26th
Lou started with his usual great opening comments jabbing fun at the wonderful news, the economy maybe getting worse. you can hear Lou's opening commentary by clicking here and click on the link provided.In the Q&A part of the show Frank Cappiello answered a viewer question about the difference between personal and national savings rates. Seems the personal figure does not take into account stock market gains while the national does.
The guest was Richard Freeman portfolio manager Smith Barney Aggressive growth fund. They touted him as beating the S&P 500 since he took over the fund. I imagine it is one of those things that take into account good performance early then if you have a few sub par years it keeps your record higher than the benchmark. Check the five year vs. S&P 500 here
Mr. Freeman did give some sound advise. Buy companies not for 1 quarter but 3 years out to 10 and grow with them as long as management is motivated. He went on to say the correction we have seen is the worse he has seen since 1983 when he started. He is more optimistic now than in January due to many more people are negative now vs. January. In January he could only recommend purchase of about 3 stocks now he see up to 50 worth a look. Likes adaptive broadband ADAP due to it outlook providing technology up 100 times faster than cable modems and DSL. Company Profile
General comments made by Mr. Freeman Thinks Bio Tech are a buy now, mentioned several companies but likes the sector and thinks one could do well throwing darts or just buy a sector fund. When asked about his low turn over he fell back on identifying the right companies and grow with them strategy. He looks for growth rates above the P/E kind of a Passive Aggressive plan. The aggressive part is identifying the companies to invest in then passively sit by and watch them grow. He also requires a good balance sheet on any company he invests in. Said in a bull can make money with a concept stock and in a bear you need sound earnings. Since no one can tell when the bear will strike he relys on sound fundamentals.
-- posted by SteveT
» Kirk - Thanks Steve for the excellent summary!
Thanks Steve for the excellent summary!I thought Lou's guest, Mr. Freeman, was right on and echoed what I like to do
"He looks for growth rates above the P/E kind of a Passive Aggressive plan. The aggressive part is identifying the companies to invest in then passively sit by and watch them grow"
I liked these wise words also:
"Said in a bull can make money with a concept stock and in a bear you need sound earnings. Since no one can tell when the bear will strike he relies on sound fundamentals."
Impressive long term record AND tax efficient!
-- posted by Kirk
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