WSW: Louis Rukeyser's Wall Street Summary &amp; Discussion $treet

Top 450. Mar 30, 2002 8:45 AM

» Joey86 - Re: Wall Street Weak

In response to message posted by BrianMcG:

Your comments about Rukeyser's ego are well taken and therein probably lies part of the problem that he has with whoever is running the shop.

As for last night, I enjoyed most of the program. It did lack the humor (which apparently everyone doesn't care for), but it was more to the point and I thought letting the panel ask the guest two rounds of questions was a good idea, (although all of them seemed to serve soft balls).
Jim Grant seemed especially fidgety but the others were in control. I thought the new host did a better job than Mary Farell or any of the other temporary hosts. As for the topic, Index Funds 101, it was certainly worth a show, espeically for those who don't know much about them.

Even though I'm a Lou fan, I give the show a thumbs up--make that a thumb up.

-- posted by Joey86

Top 451. Mar 30, 2002 8:59 AM

» BrianMcG - Re: Re: Wall Street Weak

In response to message posted by JeffChristy:

"I agree with you about Lou's EGO. I think it is the second biggest in the financial news industry. The largest goes to another man who has a thread dedicated to him here that has 39,000 more posts than this one. . . . Just curious who do you like in the industry, Lou Dobbs, Ron Insana or Neil Cavuto?"

No disagreement about Brinker's ego, which is big and ugly. Of course, Rukeyser does have a good sense of humor, while Brinker has none. At least none I have noticed. I like Dobbs, Insana, and Cavuto. Also Kudlow and Cramer. I like Ray Lucia and Suze Orman on radio. (Orman is also on TV.) They all have their pluses and minuses, of course, but the pluses generally outweigh the minuses. Cavuto's Saturday morning discussion show is a lot of fun. I also like Karen Gibbs, and the interplay between her and Cavuto.

Brian McG (formerly QQQless).

-- posted by BrianMcG

Top 452. Mar 30, 2002 9:15 AM

» mdorsey - Re: Re: Re: Wall Street Weak

In response to message posted by BrianMcG:

Just curious, did you tell us why you changed your screen name? Maybe the full disclosure mood after Enron is at work here. smile

-- posted by mdorsey

Top 453. Mar 30, 2002 9:26 AM

» BrianMcG - Re: Re: Re: Re: Wall Street Weak

In response to message posted by mdorsey:

"Just curious, did you tell us why you changed your screen name? Maybe the full disclosure mood after Enron is at work here. smile "

I thought somebody would ask. I changed internet providers and had to re-register for Suite 101. "QQQless" was kind of a dumb name, and I didn't want to perpetuate it. (I am still without any investment in the QQQ's, but that odd little fact isn't what I am all about.) Coming back with my real name, I thought honesty demanded that I disclose my former screen name. I have no ulterior purpose at all, and I didn't want anybody to think I did.

Brian McG (formerly QQQless).

PS--If I continue to post here, I won't repeat the "formerly" stuff very time. Just wanted to be open about it at the outset.

-- posted by BrianMcG

Top 454. Mar 30, 2002 9:55 AM

» Makena - Re: Re: Re: Re: Re: Wall Street Weak

In response to message posted by BrianMcG:

There is a good article written some years ago by Michael Lewis, the same guy who wrote "Liar's Poker", "The Money Culture" and a couple of other Wall St exposes. He took one of those Rukeyser cruises, where he paid dearly to float down the Amazon for a few days with a bunch of old folks worshipping their guru.

Rukeyser didn't board the boat at Miami or wherever it left from, he was flown in to grace the audience en route. This required diverting the ship to get him. When he arrived there was a lot of photo taking, followed by a huge upheaval with him threatening to leave the cruise when he found there was only a queen sized bed in his state room.

He demanded, and the cruise line complied, that they assemble a king sized bed especially for him, even though there was none on the ship. They make special arrangements to accomodate the king.

He was, of course, supremely smug and arrogant. Finally he was to leave en route on the return voyage, choosing not to ride home with the peons to Miami. A passenger had an emergency at home the details of which I can't recall, and it was extremely important for him to get an envelope mailed at once. The ship would not come to port for a few days and he timidly approached Rukeyser to ask him if he would please do a favor and take the envelope with him on the helicopter and mail it.

Rukeyser blew up and refused to do it, shouting things like "Who the hell do you think you are?"

I wish I could remember this description better, it is excerpted from the book "The Money Culture" which is a great read.

I remember the funny depiction of a session where a rich old coot repeatedly fell asleep then would suddenly awaken during the presentation to shout to the room "Dow Chemical! Damned fine stock!" while the other senile passengers sat there sleeping or drooling.

-- posted by Makena

Top 455. Mar 30, 2002 10:04 AM

» BrianMcG - Re: Re: Re: Re: Re: Re: Wall Street Weak

In response to message posted by Makena:

I hadn't heard that story about the Nile cruise, but it fits the profile, doesn't it?

-- posted by BrianMcG

Top 456. Mar 31, 2002 11:27 AM

» stocksystm - Rukeyser Bashing

Louis is taking a pretty good bashing in this forum which surprises me a bit. I met him a few years ago and he seemed like a "down to earth" fellow. For those interested, he also looks much younger in person than he does on his show (TV tends to add 10 to 15 pounds).

Mr. Loeb's attempt to host the show was adequate, although he demonstrated no match to the wit of Rukeyser, who doesn't rely solely on the silly puns.

I did find Louis to be disingenuous at times regarding the indexing of ones money. He seemed to downplay this strategy, probably to please his money manager friends, who happen to benefit from the biggest jobs program on the planet. Louis is intelligent enough to realize that active management of money is loser's game for the majority who try it. However, this realization doesn't lend itself to the selling of newsletters (like his Wall Street monthly) or actively managed mutual funds.

I also found his dismissal of Nurock and Dudack to be distasteful. He seems to be susceptible to running with the crowd and ridding himself of those who would have opinions contrary to his own.

Where Rukeyser succeeded was his belittlement of the fearmongers so prevalent in the financial newsletter business. His strongly bullish bias has probably helped thousands of investors stay in the market and achieve financial independence.

-- posted by stocksystm

Top 457. Apr 6, 2002 1:56 PM

» DavidWShane - April 5th WSW sans Lou!

Boy, they need to spice up their show quick! I literally fell asleep intermittently! Jules Westheimer must be about 80, and he looks like they are propping him up while he reads a scripted response to the unexciting Marshall Loeb's questions! It's a joke the way they still use Uncle Lou's format, and try to emulate his punster style. Kind of like they're saying, "Don't be mad at us, Lou, we're trying to carry on....!"

Lou was the dynamic center of this show, and kept it lively and interesting. Marshall McLuhan (sp.) said many years ago that "The medium is the message", and that's at least half true on this show.

Lou must be having a blast listening to this relic of his show!

David

-- posted by DavidWShane

Top 458. Apr 6, 2002 3:31 PM

» SteveT - Re: April 5th WSW sans Lou!

In response to message posted by DavidWShane:

David, as someone who has watched the show closely the past few years I think you are spot on. I was OK with the format in week one due to the short time to prepare. This weeks show was more of the same imo.

I find it funny that they seemed to showcase the things they criticized Lou for i.e. puns & age demographic. The show does offer some good basic advice for beginners. I too fell asleep and had to go to the instant replay. A huge disappointment.

I can't wait for Lou to get his new show on the air.

-- posted by SteveT