Columns

An old Wall Street adage holds that a stock is worth what somebody is willing to pay for it. However, even more appropriate is an adapation of that adage by Investment Advisor Richard Ney (1916-2004.) He used to say “a stock is worth what the NYSE floor specialist is willing to pay for it.” In any case, both have more merit than all of the blue sky that so-called “investment experts” tell us what a stock or the stock market is worth.

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I recently had the chance to talk with Bloomington native Kent Hrbek about the July 15 Major League Baseball All-Star Game at Target Field. Hrbek, former All-Star first baseman for the Minnesota Twins, said he has mixed feelings about the game.

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It happened again this week. The family of an accused criminal defendant in a serious crime with sensational overtones is descended upon at their residence by Twin Cities TV reporters, asking them for comment. Apparently, ratings concerns supersede simple understanding of their grief and their right to privacy.

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Over last few decades, many investors have moved away from the traditional full service stockbrokerage firms to discount and internet brokerage firms. For some investors, especially during the heady days of the late 1990s and the middle of the first decade of this century they have abandoned all brokerage advice and took on the business of investing by becoming “day traders.”

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“Breaking Bad” TV show actor Steven Quezada had several strong messages for about 4,000 educators recently gathered to discuss charter public schools. At a conference sponsored by the National Alliance for Public Charter Schools, (http://www.publiccharters.org) Quezada began, “Thank you, thank you, thank you for recognizing that children learn in different ways.”

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Occasionally some new idea captures the fancy of the general public to such a degree that its popularity exceeds all reasonable expectations. Such was the case with rock gardens in the 1930s. The July 15, 1931 Anoka Union newspaper explains, “Never in the history of Anoka have people been so interested in rock gardens and flowers of all kinds as this summer of 1931.”

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