The Only Vacation That Sets You Ahead Rather Than Back

On sea days while 90 percent of my shipmates aboard Crystal Symphony took part in one of many scheduled activities or worked out in the fitness center, I attended Louis Rukeyser’s Investment Seminar. Would I rather having been sunning myself on deck? Absolutely not. The seminar was a compelling reason for signing up for the cruise, the three- to five-hour sessions notwithstanding. I may have been the only half of a couple on the ship where the man became the "cabin husband" and the wife took care of business. As an interested student of the market, there is always more to learn and learn I did from Rukeyser himself and four other panelists.

The 85 or so attendees were sophisticated, knowledgeable investors. Several managed money professionally. One of the panelists asked, "How many of you have private foundations?" More than half the hands in the room went up.

The Rukeyser Panel with Louis Rukeyser (Credit: Edwin Fancher)

If you have watched the former PBS program "Wall $treet Week with Louis Rukeyser" (and who hasn’t) or the new CNBC show "Louis Rukeyser’s Wall Street," you are familiar with his format, his skill as a moderator and his ability to draw the most prestigious names in the investment community. From his roster of guests, such as Milton Friedman, leading economist, and Sir John Templeton, advocate of global investing, it seems that requests to appear with Rukeyser are very welcome.

For his eighth investment cruise, Rukeyser invited four panelists, all of them regulars on his shows. Each brought a different area of expertise to the forum and spoke with authority about their specialties. They did not always agree, but the jovial way in which they took issue with one another made the debate lively.

Frank Cappiello, president of an investment counseling firm, is a leading financial analyst. The author of "Finding the Next Superstock," he talked about, among other things, "Stock Selection: Finding the Winners of the New Bull Market." Cappiello, who does not favor bonds, discussed what factors he looks for when screening for winning equities.

Michael Holland, Chairman of Holland & Company, has spent his years on Wall Street managing equity and fixed income assets, as well as mutual funds. He focused on the timely topics, "The Search for Current Yield" and "Balance in Investing."

Mary Farrell, a senior investment strategist, discussed the markets going forward and rethinking retirement.

Thomas Gallagher, who works in Washington, specializes in economic and political research. He offered his insights on how policy themes, the political climate and economic trends impact markets.

Rukeyser’s own curriculum vitae is a lengthy one filled with a wide range of accomplishments and awards. After a career as a political analyst and foreign correspondent, in 1968 he became TVs first national economic commentator, a job he invented. He believes that "you can’t understand politics if you don’t know economics" and that "economics is the most current subject in journalism." One of his citations praised him for his "singular contribution to the economic education of the American public."

Mr. Rukeyser hosted two sessions, one in which he answered questions from the audience as the other panelists had done following their presentations. The conference ended with The Rukeyser Panel. Lou interviewed the four experts on how to cope with the present market volatility and where they think the best profits will be made in the coming months.

Crystal Cruises does not sell or promote Rukeyser’s seminars. Many passengers were disappointed to learn of the event once at sea and wished they could have taken part. In order to participate in the seminar, you must purchase a cruise from Intershow.

To find out about Louis Rukeyser Investment Seminars at Sea, call 800-278-5996 or visit www.intershow.com. Seminars are priced at $499 per person, $899 per couple.

9th Louis Rukeyser Investment Cruise, Caribbean Medley, Crystal Harmony, November 29 to December 9, 2002.

10th Louis Rukeyser Investment Cruise, Eastern Caribbean, Crystal Symphony, November 28 to December 8, 2003.

Fall 2002