37 years ago, a kid from the Bronx, with no formal business education or training, forecasted both a stock market crash, and a two-year rally back to new, all-time highs. This, and other forecasts of his, earned him the moniker, “Wall Street Whiz Kid”.
Letter from Bob Trause (Hired Peter in 1986, was Branch Manager for Philips, Appel & Walden and was an important person who helped to launch the “Wall Street Whiz Kid”).
It’s my pleasure to write about the “Wall Street Whiz Kid”.
I am proud to have mentored Peter during his early years in the brokerage community and that I had contributed to his path in the investment profession. It is amazing that over 30 years has passed since that first day when I had interviewed this “diamond in the rough”, who came to me with limited experience and a very small book of business. I hired him because I sensed a special quality and his success has only validated my “gut reaction” to hire Peter.
Back in October 1987, I can still recall Peter speaking of an impending stock market crash and the company’s viscera; reaction was to demand that he “retract it or else!”
A short time later, Black Monday (10/19/87) hit leaving most completely unprepared – except those who took Peter seriously. Then, on the very next day, he announced his forecast that within two years that the stock market would make new, all-time highs! I was speechless! -This is an excerpt from the book “Confessions of a Former Wall Street Whiz Kid”.
