Taking Stock

Let's face it: The stock market is on everyone's mind. From cocktail parties to barber shops, around coffee machines and on the Internet, people are looking for more than just facts. Whether you're a devotee of talk radio or prefer your news straight from the bull's mouth, what you don't know can hurt you. There's information galore out there. The problem becomes interpretation, although it's sometimes couched in terms only a financial analyst can understand. So what are you going to do?

For many investors, the answers to their financial prayers come from a man known as the "Voice of Wall Street." Larry Wachtel, a senior vice president and market analyst at Prudential Securities Inc. for more than 30 years, has offered daily market commentary on both Prudential's internal radio system and all-news WINS radio in New York City. He is widely quoted on investment trends in publications ranging from The Wall Street Journal to The Christian Science Monitor, and he frequently provides market commentary on CNBC.

Wachtel's background is in journalism-he received a degree from New York's Long Island University-but he's best known for his serious financial analysis delivered in terms beginners can understand. He combines data from analysts, news wires and other sources and adds a bit of his trademark humor. He informs listeners in his patented "New Yawk" accent that "the rambling wreck from high tech" is at the root of all evil in a recent market pullback or suggests that investors "break out the punch bowl and celebrate the activities of 'El Toro,' the bull." He believes humor helps audiences understand and remember the information he provides. In light of the market's recent escapades-and with concern over the situation in Asia increasing investor nervousness-we talked with Wachtel to get some insight into the market and find out how investors can make the most of what's happening in the world of investing.

This article was originally published in the September 1998 print edition of Entrepreneur with the headline: Taking Stock.