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

Top 823. Oct 3, 2004 5:04 PM

» allancoleman - Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more

In response to Re: Re: Re: Re: 9/24/04 Ed Hyman - more posted by Normxxx:

i think there are real estate opportunities everywhere . it's true that you aren't going to find the same prices i did in the same locations years ago . but on all of my real estate development trips in alaska & hawaii i see property at what i consider excellent prices . course you have to go abit further out but those opportunities are still there . and if i were younger and had more time to wait and develop this stuff , i'd be buying more right now . but i've got my hands full trying to sell what i've got and really don't want the responsibility any more . it's all i can do to keep myself from buying some of this property especially with the cash i have on hand .

i think the same opportunities exist in the stock market . not for long term buy & hold in the present market , but for individual stock trading like kirk and others do i think there will always be opportunities . if i were back into stocks now i'd be a day trader . why not ? ?
not going to do it but i can see the opportunities . the volatility is certainly there .

-- posted by allancoleman

Top 824. Oct 4, 2004 9:28 AM

» Normxxx - Re: Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more

In response to Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more posted by allancoleman:

if i were back into stocks now i'd be a day trader . why not ? ?

The volatility surely is there, but every study of ST stock market movements shows that it is indistinguishable from random. Day trading is a sucker's game unless you use some truly stringent money management techniques, which are not fun.

-- posted by Normxxx

Top 825. Oct 4, 2004 10:00 AM

» allancoleman - Re: Re: Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more

In response to Re: Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more posted by Normxxx:

you are absolutely correct Normxxx . i was just joking . i've got a full time job right now just dealing with my real estate liquidation for the next five to ten years depending of my sales . by that time i won't really care much about the stock market hopefully with my critical mass .

watching all these markets ( real estate , stocks , gold , oil , etc ) sure is exciting and educational . as you said , we live in exciting times .

-- posted by allancoleman

Top 826. Oct 4, 2004 6:12 PM

» Normxxx - Re: Re: Re: Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more

In response to Re: Re: Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more posted by allancoleman:

I know you were. But it really is not a thing to joke about on a public board. There are too many newbies wandering by.

If ever you feel tempted, you can buy an "automatic" trading computer (for a few grand) and set it up to do 'paper' day trades to your heart's consent. After a few months, I think you will get really bored. The better programs are not likely to lose much in such a short period-- might even gain a little-- but, unless you have an extraordinary run, one way or the other, it's like watching paint dry. Gain a little one day; lose it the next.

In fact, I believe, in the end, it's the commissions and fees-- the house take-- which do in the traders.

-- posted by Normxxx

Top 827. Oct 4, 2004 6:31 PM

» allancoleman - Re: Re: Re: Re: Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more

In response to Re: Re: Re: Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more posted by Normxxx:

you're right about the ' house take ' . one of my best friends who is a active trader is very good friends with schwab . last year ( 2003 - a good year for the market ) he matched my performance on almost 1/3 the amount of my critical mass . in other words i have almost three times the amount of total assets he has . so he made about what i made last year on 1/3 the money invested .

this year is a total different story . he's in the hole almost half the amount i'm ahead . so he has to earn half the amount this year i've already made year to date to break even . and make again as much to catch me year to date . that'll be 100% gain for him . ? ? instead of counting year ( 2003 ) to year ( 2004 ) performance in our personal match race , he now wants to figure two years ( 2003 & 2004 ) performance together . no matter to me .

he has my copy of Sy's book ( again ). this is the second time he's had the book in his hands and i told him he was more than welcome to it . i'm going to have to buy several copies of Sy's book in order to keep my copy in my hands long enough to figure out what to do myself . smile . i've got several friends that keep borrowing it .

keep up the good work . i send them , and others , copies of your posts to help them .

-- posted by allancoleman

Top 828. Oct 5, 2004 4:57 AM

» Normxxx - Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more

In response to Re: Re: Re: Re: Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more posted by allancoleman:

One of the 'tricks' to day trading is to just stop during periods when the market stops trending. Now what day trader will just stop trading? And, like this year, for long periods.

Get your friend some market Psychology books, like "In The Zone."

Supposedly, a "choppy" market is a "trader's" market; but nothing could be further from the truth. Up and down runs are fine and much better than little movement, but even traders need long enough runs to keep from getting whipsawed.

-- posted by Normxxx

Top 829. Oct 5, 2004 6:40 AM

» Kirk - RE's in Titles

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In response to Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: 9/24/04 Ed Hyman - more posted by Normxxx:

Come on guys... You are regulars here. Please make an effort to limit RE's in the titles so we can see what you are talking about. It is a good habit because it makes it easy to go back and find posts should you ever need to.

Thanks.

-- posted by Kirk

Top 830. Oct 8, 2004 5:23 PM

» JeffChristy - The show is over

Due to his ongoing health problem Lou has requested that CNBC cancel the show at the end of this season.

Rukeyser won't return to his TV show
:http://cbs.marketwatch.com/news/story.as...

-- posted by JeffChristy

http://news.yahoo.com/news?tmpl=story&u=...

Top 831. Oct 10, 2004 6:51 AM

» Kirk - Where are the customer's Penthouses?

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[Kirk's Editor Comments: Being featured as a regular on Lou's show has been profitable for many, especially Martin (Marty) Zweig. ]

$70M SUITE SPOT

Sun Oct 10, 4:08 AM ET
By BRADEN KEIL
EXCLUSIVE

A Wall Street financial guru is putting his palatial Fifth Avenue penthouse on the market for a staggering $70 million — the highest-ever asking price for a Manhattan apartment, The Post has learned.

Martin Zweig, an author and hedge-fund manager, will open the doors of his three-story co-op apartment, perched atop the swanky Pierre hotel, to serious bidders Tuesday, real-estate sources said.

The swanky penthouse mansion has 16 rooms covering 11,000 square feet on Floors 41 through 43.

It has nine bedrooms, six baths and two half-baths, six fireplaces, four terraces, heated marble floors and a 2,800-square-foot "grand salon" with 23-foot-high ceilings and ornate chandeliers.

The apartment's $48,000-a- month maintenance fee includes full hotel services, such as room service, twice-daily maid service — with robes, linens and mints on the pillows — and a 24-hour concierge.

Zweig, who's in his 60s, stands to pocket a whopping profit if he finds a buyer — in 1999, he paid a then-record $21.5 million for the over-the-top digs.

He bought it from Australian publishing heiress Lady Mary Fairfax, who first listed the glamorous digs in 1996 for $35 million.

The grand salon, one of the hotel's ballrooms, sat mostly empty from the late 1960s until Lady Fairfax combined it with the apartment for $12 million in 1988.

She then spent the next five years and untold millions renovating.

"I'm very familiar with all the great apartments of New York," said the listing broker in 1996, "and I believe [the grand salon] is the most important room in private ownership."

A few months after Zweig bought the mansion, his record purchase price was shattered when troubled tycoon Saul Steinberg put his 34-room Park Avenue triplex, part of the original 90-room residence of John D. Rockefeller Jr., on the market with an asking price over $45 million.

Investment banker Stephen Schwarzman reportedly paid approximately $37 million for the prewar pad in February 2000.

By November 2000, Manhattan saw yet another record-high asking price when Johnson & Johnson heiress Elizabeth Johnson listed her unfinished 20,000-square-foot condo at Trump International Hotel & Tower for $62 million.

Johnson assembled the gargantuan triplex out of several contiguous apartments, and then opted not to finish the project after a fallout with her hairdresser boyfriend.

After no takers materialized, Johnson eventually remarketed the raw property in their original configurations.

The record sales price for a New York City residence now stands at $42.5 million for a 12,500-square-foot duplex condo at the Time Warner Center purchased by financier David Martinez in 2003.

Some brokers doubt that Zweig will get the full $70 million.

"I'll be very surprised if he gets anywhere near that," one broker said. "You can ask the moon, but reality does eventually set in."

Neither Zweig nor his brokers could be reached at press time.

Zweig started an investment newsletter in the 1970s before entering the lucrative fund business in the 1980s. His stock-picking acumen has been compared to that of fellow market guru Warren Buffett.

[Kirk's Editor Comments: I’d love to know how much of his wealth came from picking stocks vs. charging fees on clients’ accounts that were attracted to his conservative style on Lou’s show. ]

-- posted by Kirk