Turkey soup, turkey hash

The Ticker

November 23, 1990|By Julius Westheimer

Here are some post-Thanksgiving Day leftovers of local lingo, Baltimore bits, Maryland memos and financial items from beyond the Beltway:

LOCAL LINGO: "Devastation of small-capitalization stocks has been the broadest in recent history; from its high point the NASDAQ index is down more than 30 percent vs. S&P 500-index off 18 percent since midyear." (Smith Barney via Rick Faby) . . . "The most sobering current condition is that of the federal government. Historically, federal coffers were full when a slowdown arrived, cushioning bumps when entitlement payouts rose and tax revenues fell. Today the government is towing a record deficit into recession; it will be hard to tame the beast." (First National Bank) . . . "The new deficit-reduction bill does nothing to reduce the structural deficit below $200 billion annually for several years to come, and the tax boost may push the deficit higher if it prolongs the recession." (Mercantile Safe Deposit & Trust Co.) . . . "Stocks of many basic industrial U.S. corporations have been savaged and represent outstanding values." (Investment Counselors of Maryland)

BALTIMORE BITS: A local savings and loan president told me "Everything is relative; I can prove anything if you let me pick the starting point. For example, if you break your leg at work, that's bad, but if you break it in front of an orthopedic hospital, that's not quite so bad." . . . The T. Rowe Price Equity Income fund is recommended by four newsletters followed by Hulbert Financial Digest . . . A Baltimore bank executive says, "Banks shouldn't stretch to fulfill earnings results that out-of-town analysts, who have never been bankers, insist on achieving. Actually, banks are supposed to have some 'down' years. Banks get in trouble when they push too hard to reach unrealistic goals." . . . Wooden & Benson (825-4860) will mail "Year-end Tax Strategies for Individuals." . . . Call Legg Mason (539-3400) for "Company Comments," with items about Baltimore Bancorporation, Chesapeake Corp., etc.

MARYLAND MEMOS: Tonight, "Wall Street Week with Loui Rukeyser" hosts Kenneth Hackel on the topic, "Free Cash Flow" with panelists Howard (Pete) Colhoun, Maceo Sloane, Mary Farrell . . . Saturday, Nov. 24, 4 p.m., I'll be Bruce Elliott's guest on WBAL Radio's 2-way talk show, discussing European investments and other topics; give us a call (467-WBAL) . . . Wednesday, Nov. 28, Security Analysts host K-Mart executives, Tremont Plaza, noon . . . Our Daily Bread soup kitchen, 200 W. Franklin St., corner of Park Ave., needs cereal (lots of it), aluminum foil, sugar, hot chocolate, turkeys, paper towels, napkins, plastic cutlery, regular bus tokens and money . . . Merry-Go-Round, Inc., appears on Standard & Poor's "Five-Star Buy List" in its Nov. 14 issue . . . Senior U.S. District Judge Joseph Young reminds us that a sirloin steak for two cost $3.50 at Marconi's in 1960. A fresh shrimp cocktail was 50 cents.

BEYOND THE BELTWAY: "President Bush will never succee until he stops kissing off domestic questions; the country needs more than half a President." (U.S. News & World Report) . . . "To protect yourself from your broker, insist on a copy of your new account form. It should carefully describe you and your financial goals. If not, it can be used against you if you ever have a claim." (Personal Finance) . . . "Stocks have acted better lately and the rally could go further, but the bigger picture grows riskier. Odds are overwhelming that the recession has begun." (Zweig Forecast, Nov. 16) . . . The Kiplinger Washington Letter (Nov. l6) feels that the U.S. will probably go to war if Iraq doesn't get out of Kuwait by early 1991 . . . Did you know that 45 million Americans have stocks in their own names and 130 million people own stocks through pension plans, stock ownership programs and mutual funds? . . . "The best strategy now is to hold a diversified portfolio of depressed stocks." (Dessauer's Journal) . . . "A historic rally is ahead." (Mutual Fund Forecaster) .

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