A Farewell, and then Forever


As a rule I try not to blog about celebrities, but sometimes you just have to say something. Like it or not, certain celebreties become important fixtures in our lives and leave us feeling a little bit older and emptier when they're gone. I felt it when John Lennon died, and then again when James Stewart died, and now I feel it again with the passing of Louis Rukeyser.

So what was it that made Louis Rukeyser so invaluable? I think it was this. The investing world has always been full of touts and self-promoters - those who claim inside knowlege or omniscience or the ability to predict the future. In fact, for many individual investors the whole basis of stock market investing is nothing more than seeking out these wizards for their " hot tips" and "inside scoops". Rukeyser and his panelists on Wall Street Week in Review were different. Instead of "hot tips" Rukeyser's prgram was all about the facts and healthy doses of common sense. That's why viewers faithfully tuned-in each Friday night and read his newsletters and attended his seminars. They were there to learn the investing basics, and they trusted that Rukeyser wasn't going to try to confuse them with a lot of jargon or claim to know the unknowable.

Over the years, as a faithful viewer myself, I got to see the him interview countless Wall Street movers and shakers, from both the fundamental and technical side of the investing spectrum, and I think it's fair to say that not once did I ever see Rukeyser let a guest blow a lot of smoke on his show and get away with it. If something wasn't clear the guest was asked to clarify it. If an outlandish claim was made then he was asked to justify it, and all the time Rukeyser would be probing with his unique blend of skepticism and wit. In this way I think millions of americans got to see that investing wasn't voodoo or black magic but rather an informed strategy based upon research and (here's that phrase again) common sense.

It would be a fitting tribute to Louis Rukeyser and Wall Street Week to say that his show changed the world and we are all better investors for having watched it, but unfortunately, for the vast majority of us, investing is the same today as it always was. Bring up the stock market in any casual conversation and it won't be long before someone asks you for a hot tip. Seldom does anyone ask for a strategy. But that wasn't his failure. Rather, the fact that so many learned so much from watching his show was his great success.

The most peculiar thing about Louis Rukeyser's death, at least for me, is that he was the same age when he died as my father was when he died, and he died of the very same disease. Multiple Myeloma took my father's life at age 73 (actually it was complications from the disease), and Mulitple Myeloma also took Louis Rukeyser's death at age 73. I won't say his passing is like losing a second father. No one could ever replace my father and frankly, Louis Rukeyser and I weren't that close. But I do feel like I lost an old friend.

May he Rest In Peace.

One other item in the news that caught my eye. In case you haven't heard Microsoft announced they were getting into the TV show biz today. Well, not exactly the cable TV show biz or the over-the-air TV biz but the internet TV biz. Turns out they are going to start producing original content for the MSN internet service through a service they're calling (suprise) MSN Originals. Geez, I hate to be negative but doesn't this seem like it's going to be one big...

DUD!

I mean, I wish Microsoft the best of luck with this but their track record for new initiatives hasn't been too spectacular lately. MSN search vs. Google? Dud. Plays for Sure vs. IPod? Dud. Origami? Dud. And now they're going to get in the TV business? Well, we all now how easy that's going to be. Just ask the WB and UPN how easy it is to come up with new, audience-grabbing content. Should be no problem.

Not that I'm one to criticize, mind you, because I know nothing about primetime TV. If they asked me how to make a hit show I wouldn't have a clue, although I do have this idea for live opera broadcasts on the internet. That'd be a hit, wouldn't it? I'm sure there are at least a couple dozen other people who'd like to see that too. Then again maybe not, and anyways I think MSN is going after a bigger demographic.

And who better to know what's hip with today's 18-34 year olds than Bill Gates.

Yeah, hate to say it but I just get a bad feeling about this MSN Originals thing. Not that I think it's a bad idea. In fact, if I was a betting man I'd wager that Microsoft is probably onto something here. The trouble is they won't be able to execute on it and some younger, hipper company is going to come along and eat their lunch. That seems to be their process these days. But then again, who knows. Good luck Microsoft, and I can't wait for the first show.