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From: tut@sun.uucp (Bill Tuthill)
Newsgroups: net.invest
Subject: Wall $treet Week stock picks
Message-ID: <3207@sun.uucp>
Date: Fri, 31-Jan-86 20:11:26 EST
Article-I.D.: sun.3207
Posted: Fri Jan 31 20:11:26 1986
Date-Received: Sat, 1-Feb-86 21:43:05 EST
Distribution: net
Organization: Sun Microsystems, Inc.
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Not long ago, the Institute for Econometric Research did a study of
stock picks by Foster Winans (the one accused by the SEC of divulging
insider information) and Gary Putka, who together used to write the
Wall Street Journal's "Heard on the Street" column.  The institute
concluded that these two men picked stocks that outperformed the
market as a whole by about 45%, which is extraordinary.

On the other hand, they concluded that "stock recommendations made
by guests on Louis Rukeyser's "Wall Street Week" television program
not only revealed no predictive ability by those guests, but even
suggested that information pertaining to stocks recommended on the
show may have been used by certain parties in advance, as judged by
an upward trend of the stock prices in the two weeks before the
show's airing."

Foster Winans was fired by the WSJ, and Gary Putka was promoted to
the London office.  The current writers of "Heard on the Street"
don't have nearly as good a record as those two did.

Bill Tuthill