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

Top 789. May 3, 2004 6:04 PM

» Normxxx - Re: Lou Has Cancer - Placed on Medical Leave

In response to message posted by Kirk:

Osteosarcoma? Not a happy prognosis.

-- posted by Normxxx

http://www.usatoday.com/life/people/2004...

Top 790. May 4, 2004 10:12 AM

» Kirk - Re: Re: Lou Has Cancer - Placed on Medical Leave

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In response to message posted by Normxxx:

They don't say what type of cancer it is. You can get back pain from a pain in your wrist if you adjust how you sit to accomodate the pain.

CNBC's Louis Rukeyser says he has cancer

NEW YORK (AP) — CNBC financial commentator Louis Rukeyser, who's been on medical leave since last fall, has cancer but has promised to return to his weekly business show.

Rukeyser, 71, said he underwent back surgery last fall to relieve persistent pain, but when the pain didn't go away, he went back for a checkup and a low-grade malignancy was discovered.

Rukeyser says doctors advised him not to go back to work for several months.

"I thank all of you for your kind thoughts, and as Gen. Douglas MacArthur famously declared as he left the Philippine Islands during World War II, 'I shall return,'" Rukeyser said.

His weekly business report, "Louis Rukeyser's Wall Street," airs Friday nights on the cable channel. CNBC anchors have been filling in for him since his last appearance Oct. 31.

Rukeyser's show, a longtime staple on PBS before he jumped to CNBC, is also shown on more than 180 public television stations.

-- posted by Kirk

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http://www.baltimoresun.com/features/bal...

Top 791. May 4, 2004 10:16 AM

» Kirk - Health keeps Rukeyser on leave indefinitely

Health keeps Rukeyser on leave indefinitely

CNBC host absent from show since fall

By David Folkenflik
Sun Staff
May 4, 2004

Louis Rukeyser, who has been absent from his CNBC financial news show since last fall, is taking an indefinite leave because of health concerns, the cable network announced yesterday.
Rukeyser, who was last on the air on Oct. 31, underwent surgery at the Mayo Clinic in Minnesota for surgery to relieve pain in his back several months ago. In a statement released by CNBC yesterday, Rukeyser wrote that further tests revealed "a low-grade malignancy" that requires continued treatment. He did not return a call left at his home yesterday seeking additional comment.

"As I know you will understand, I am more than eager to be back on the job, but have no choice but to postpone my next appearance until the doctors tell me I'm ready," Rukeyser wrote in the statement. "As General Douglas MacArthur famously declared as he left the Philippine Islands during World War II, 'I shall return.'"

Rukeyser was host of the PBS staple Wall Street Week with Louis Rukeyser from 1970 to 2002, when he was told he would be ousted from the anchor's chair by his producers at Maryland Public Television. He was fired outright a few days later after complaining about the move on the air.

The next month, he started as the host of CNBC's almost identical new show, Louis Rukeyser's Wall Street that is broadcast at 8:30 p.m. on Friday night to compete with MPT's refashioned Wall Street Week with Fortune. Rukeyser's show has been picked up free of charge by more than 100 PBS stations across the country and has attracted a significant audience.

"Lou is an important and beloved member of our CNBC family, and we, like his millions of fans, are very much looking forward to his return," Pamela Thomas-Graham said in a CNBC press release. A series of guest hosts drawn from CNBC's ranks will continue to fill in for Rukeyser until his return.

-- posted by Kirk

Top 792. May 4, 2004 11:23 AM

» Normxxx - Re: Health keeps Rukeyser on leave indefinitely

In response to message posted by Kirk:

Rukeyser, 71, said he underwent back surgery last fall to relieve persistent pain, but when the pain didn't go away, he went back for a checkup and a low-grade malignancy was discovered

Well, if it was (at least initially) missed by a CAT and/or MRI scan(s), and is considered "a low-grade malignancy," hopefully it is not osteosarcoma or worse.

Get well, Lou. We're ALL rootin' for you!

-- posted by Normxxx

Top 793. May 8, 2004 5:54 AM

» SteveT - 5-7-04

I too would like to extend my wishes for Lou to return as soon as feasible. We all miss his special brand of wit and common sense.

Bill Griffeth served as guest host. He did read a statement from Lou concerning his health and it seems we be without Lou for several more months but he does plan on returning as soon as his doctors permit it. Bill spent sometime reviewing the recent Sotheby’s auction of the Picasso painting “Boy with a Pipe”. It sold for $104 Million, a new record. Griffeth seemed to enjoy reporting the price of Art often has a correlation with other assets.

Mike Holland says for now the market is declining on good news and this can provide opportunities. Interest rates rising is an excuse but Iraq and China is also in the back of investors minds. Mike predicts the FED starts increasing rates in June. Stocks he likes are Varian Semiconductor (VSEA) ChevronTexaco (CVX). He would sell interest rate sensitive companies.

Liz Ann Sonders said today reminds her of the market environment of the period from the lows of October 2002 until about a week before we went to war wit Iraq. Now instead of worrying about war the FED is the concern. She thinks once the FED does move, that will provide the catalyst the market needs to move upward. The uncertainty will be behind us. Liz Ann also thinks they begin raising rates in June and expects 2 or 3 additional moves by years end. Sonders thinks now the market is readjusting valuations to reflect higher rates and inflation, both of which impact valuation. She thinks second Quarter earnings growth will exceed first Quarter earnings growth. Stocks Liz Ann likes are Sierra Health (SIE), Motorola (MOT), Carpenter Technology Corp (CRS), and Ameristar Casinos (ASCA). She would sell Treasuries.

Ed Brown in the past thought the FED would start raising rates later, now he has changed his mind. He believes they start in June. The strong jobs report is what changed his mind. He thinks the economy is strong but not excessively so. Ed does think the market will be wobbly, with neither a sharp decline or dramatic gains. Stocks Brown likes are Covance (CVO), Jabil Circuit (JBL), and Affymetrix (AFFX).

Bill then introduced special guest will be Margaret Patel, Portfolio Manager, Pioneer High Yield Fund. Margaret thinks now the environment is good for high yield bonds because the economy is good. The FED is going to increase rates but is committed to liquidity and that is the most important thing for high yield bonds. Even as rates move upward for now high yield should do better than Treasuries due to the higher income. Bill said 1994 was not a great year for high yield bonds as the Fed was increasing rates and wonders why it might be different now. Patel said in 94 they were too aggressive and she thinks they learned from that mistake. Bill said now with yields so low many might be tempted to reach for a little extra yield and take on more risk than they otherwise would. He wanted to know if she was doing that and what kind of yield you could get now on the highest risk bonds. Now you can get about 3.5% to 4% above the same maturity Treasury. That is pretty low by historic standards but justified due to low default rates of about 3% , in 2002 the default rate was above 10%. It maybe OK to invest in the bottom tier this year but as 2005 unfolds and the economy slows she thinks it wise to invest in the higher tier high yield bonds. She does own the bonds of the following companies Freeport McMoran Copper & Gold Inc (FCX) Tesoro Petroleum (TSO), and HCA Inc. (HCA).

Mike said many viewers have bad memories of high yield bonds and asked how to best use them. They could represent up to 10% of a fixed income portfolio and be used to get a little extra yield keeping in mind they will be about as volatile as common stocks in the short term. Mike then asked how to identify and avoid sectors like she did with telecom. Patel suggests looking at the big picture. Which sector will be in demand, do they have growth potential, are they low cost producers, do they have foreign competition, and look for inflection points. Liz Ann wanted to know what sectors look good now. Economically sensitive sectors such as Basic Materials, Technology, and Health Care. Liz Ann then asked what would change her view and take on less risk. If Margaret saw a dramatically slowing economy, but she is not expecting that this year. Ed asked for her current structure regarding maturity and quality. The average quality is single B. The maturities are in a 5 to 10 year range and the duration is 4.25 years.

Next weeks special guest will be Gene Henssler, Portfolio Manager, Henssler Equity Fund. The panel will be Frank Gannon, Frank Cappiello, and Nick Sargen.

Louis Rukeyser, Louis Rukeyser, Louis Rukeyser, Louis Rukeyser, Louis Rukeyser, Louis Rukeyser

-- posted by SteveT

Top 794. May 15, 2004 5:39 AM

» SteveT - 5-14-04

Consuelo Mack served as guest host. She quickly reviewed the major financial news of the week including oil prices reaching new all time highs while global demand is increasing. Russia reported for now their oil production has hit a ceiling. Treasury yields are up and so are corporate earnings.

Frank Cappiello is bullish but concerned about the price of oil. If we break through $50 a barrel that would worry him. Like most people he is keeping an eye on the Federal Reserve wondering when and by how much rates will increase. Frank would like to see them bump rates up prior to the next scheduled meeting at the end of June. He recommends owning stocks, saying this is a period of transition from small to large caps and advises being patient. Stocks Cappiello likes are Intel (INTC) and Johnson & Johnson (JNJ).

Nick Sargen thinks the market will continue to move sideways. He believes by years end the FED Funds will be at 1.75%. Next year he thinks it will be 3.5% to 4%. The markets are worried about that and higher oil prices. Sargen recommends being diversified and waiting for pullbacks to add to positions. Profits are growing and so are margins. Cash Flow is at record levels and that is a reason not to be bearish. Nick also likes Intel (INTC) along with Amgen (AMGN) and Radian Group (RDN).

Frank Gannon says the market is looking for a reason to go up. Lower oil would certainly help and so would Iraq calming down. He thinks it is possible that earnings could be better this year than last. Frank recommends taking a look at your asset allocation and making sure the equity level is up to where you want it, saying a real opportunity is ahead. He is watching fund flow data to see how that will affect equities. Stocks Gannon likes now are Kohl’s (KSS), Capital One (COF), and Xerox (XRX).

Consuelo then introduced special guest Gene Henssler, Portfolio Manager Henssler Equity Fund. Gene invests across the broad market and is currently over weighted in Health Care, Consumer Staples, and Financials. He is slightly under weighted in Technology and completely out of Telecom and Utilities. In the U.S. companies have a three-year supply of capital expenditures in cash. They are just now starting to spend some of it. Henssler says this is a very bullish sign. His biggest worry is something happening no one expects. Stocks Henssler likes are American International Group (AIG), Pepsi (PBG), Target (TGT), Pfizer (PFE), and Bank of America (BAC).

Frank Cappiello asked if Gene has any election jitters. No he doesn’t invest with politics in mind. Take health care, it is an easy target but no matter who wins the Presidency they aren’t going to want to screw up the best health delivery system in the World. Nick asked what he focuses on. Gene starts looking at quality ratings. He looks for growth plus dividends of 12% or more. He isn’t willing to pay too much either. He adds the growth rate + dividends and divides by the P/E and will buy when that is under 1. Frank Gannon asked if now could be compared to the 1993-4 period when the FED was tightening. Henssler hopes so, the market was flat but Banks and Health care did well.

Next weeks special guest will be Jim Moffett, Portfolio Manager UMB Scout Worldwide Funds. The panel will be Harvey Eisen, Kim Goodwin, and Bob Stovall.

I will be taking the next two weeks off. The scheduled line up is as follows. May 21st Special guest will be John Rogers, Chairman & Chief Executive Officer, Ariel Capital Management. The panel will be Rich Bernstein, Mary Farrell, and Barbara Marcin. May 28th special guest will be Don Hays, President & Chief Investment Strategist, Hays Advisory Group. The panel will be Alison Deans, Lou Holland, and Brian Rogers.

Louis Rukeyser, Louis Rukeyser, Louis Rukeyser, Louis Rukeyser, Louis Rukeyser, Louis Rukeyser

-- posted by SteveT

Top 795. May 16, 2004 9:17 AM

» mac1946 - Website or info on Frank Gannon

Does Frank Gannon have a website? If not, who is he associated with at this time? Thank you

-- posted by mac1946

:http://finance.yahoo.com/q/pr?s=SEIAX

Top 796. May 16, 2004 11:22 AM

» JeffChristy - Re: Website or info on Frank Gannon

In response to message posted by mac1946:

Mac

Francis Gannon is a portfolio manager for Sunamerica. Here is a fund that he manages.

When anyone appears on radio or television purporting to be a stock market expert it pay to check out their performance numbers before placing any faith in their recommendations.

-- posted by JeffChristy

Top 797. May 16, 2004 11:41 AM

» pbradford6 - Re: Re: Website or info on Frank Gannon

In response to message posted by JeffChristy:

I wonder why/how Gannon was invited. It certainly wasn't because he runs a successful mutual fund!

Thanks Jeff.

-- posted by pbradford6