Wall Treet Week

Slipping 22 points yesterday, the Dow Jones industrial average closed at 3,208.63, now 82 points below its peak but 575 points above its Jan. 1, 1991, level.AND NOW WHERE? "Our four primary indicators allow for additional 1992 progress, with Dow Jones 3,300-3,500 reasonable six- to nine-month targets. Downside limited." (Bob Brinker's Marketimer) . . . . "I'm about 70 years old and I say the bull market will continue to climb its 'wall of worries' until long-awaited evidence of recovery appears.

To Carter Randall, figuring out what to do with your money is as simple as taking a walk along the Chesapeake Bay.Look at the rowboats. Those "belong to the savers and lenders of the world," he said. Then look at the yachts, which he said belong to people who "own something." And that, Mr. Randall said, is why even average people should be in stocks."Participating in a business is a better way to make money than renting your money to someone else for a rate of return," said Mr. Randall, a 22-year panelist on public television's Wall $treet Week and a former executive of Equitable Trust of Baltimore, who was visiting to promote his new book "Up on the Market."

Although investors were discouraged that the Dow Jones average slipped 27 more points yesterday -- off 61 points, or 2 percent, for two days -- let's put the decline in perspective.We recall that the Dow's 508-point plunge on October 19, 1987, ran a whopping 22 percent (DJ 2,246 to 1,738) but surprisingly the DJ regained its pre-crash level in only 15 months and now stands 1,605 points, or 92 percent, above its "Black Monday" close.AND NOW WHERE? "There's powerful evidence that stocks are not overvalued and we see Dow Jones 3,400 to 3,600 this year as long as interest rates and inflation stay subdued."

"Why is it that the mutual funds of some of the biggest and most recognized experts often have mediocre performance?" a reader asks."A classic example is Marty Zweig. He's recognized by [Mark] Hulbert [of the Hulbert Financial Digest] as one of the best, but his fund is average. What's going on with these guys?"While any fund manager can have an off year, this reader makes an inappropriate comparison: He doesn't distinguish between picking a few stocks and managing an equity mutual fund portfolio.

For more than three decades, Maryland Public Television produced "Wall $treet Week" with Louis Rukeyser. It was a resounding success, pioneering a format that paved the way for the cable financial news shows of today. Then several years ago, MPT fired Rukeyser as part of an effort to revamp the show to compete against cable competitors. Rukeyser, who has since died, went to CNBC. "Wall $treet Week" eventually went off the air. And the station has never been able to replace its content and the millions in revenue it brought in. Now MPT news host Jeff Salkin is trying to bring back the venerable "Wall $treet Week" brand — at least to the Web. Salkin has licensed the "Wall $treet Week" name from MPT, which has owned a kind of trademark on the show since 1982.

Everyone was a star at Maryland Public Television's "Gala '99." As guests arrived at the MPT studios for its 30th anniversary celebration, they were greeted by "paparazzi" (actors posing as photographers and reporters).But the stardom didn't stop there. Some party-goers were interviewed on camera by MPT personality (and event honorary chair) Rhea Feikin, while others had a chance to try anchoring a mock news show, as they toured the MPT facilities.Among the 420 "stars" basking in the spotlight: Carole Sibel and Sharon Nevins, event co-chairs; Rob Shuman, MPT's CEO; Connie Caplan, chair of Maryland Public Broadcasting Commission; Louis Rukeyser, "Wall $treet Week" host; John Waters, Baltimore filmmaker; Frank Burch, chairman of the Piper & Marbury law firm; Cheryl Lockhart, BGE director of corporate contributions; and Earl Arnette, operations director at Arbros Communications.

Frank Cappiello, the Baltimore partner in a San Francisco-based investment firm and a regular on public television's "Wall $treet Week," is starting three new mutual funds with the help of the Rushmore Group, a Bethesda-based mutual fund company.The Rushmore Group, which manages about $1.2 billion, will handle the expenses related to administrative, distribution and marketing efforts, while Mr. Cappiello will help find investors and manage the funds. The funds received approval from the Securities and Exchange Commission this week, Mr. Cappiello said.

Judicial ControlJudge Thomas A. Bollinger's sympathy for defendant Lawrence Allen Gillette (The Sun, April 23) presupposes that men by nature are unable to control their sexual behavior and therefore it is the woman's responsibility to deter a man's sexually aggressive actions.Because Gillette's victim was unconscious and, therefore, unable to assume this responsibility, according to the judge she "facilitated" the rape.If men are so incapable of controlling their behavior, then how can we entrust them to important leadership positions such as judgeships?

Edging two points lower, the Dow Jones industrial average closed yesterday at 3,254.25, only 1 percent below its all-time high. By contrast, Japan's Nikkei index recently fell below 20,000 to its lowest level in five years, off 49 percent from its peak of 38,915 set in December 1989.TAKE YOUR CHOICE: "In the typical presidential year, April and May often bring corrections, so it's wise to forgo purchases until the April-May time frame ends and earnings improve." (Intelligent Investing). . . . "When the speculative stock market party ends, there's a big hangover.

The Dow Jones industrial average forged into record territory yesterday, gaining 25 points to close at 3,276.83, now ahead 108 points this year and 643 points, or 24 percent, since Jan. 1, 1991.LOCAL STAR: MNC Corp. (Maryland National Bank) surged 3/4 of a point yesterday, a 9 percent gain, closing at 8 3/4 . Within the last 12 months you could have bought all you wanted for around $3 a share.WATCHING WALL ST.: "This is the sixth consecutive week in which our 'elves' [technical indicators]