Word: garzarelli
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Dates: during 1980-1989
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...star-crossed: Friday the 13th in the month of October, on the eve of the second anniversary of a devastating market crash. "I'm telling you, psychology is really funny. People get crazy in situations like that," said portfolio strategist Elaine Garzarelli. Last week Friday the 13th lived up to its frightful reputation. After drifting lower at a sleepy pace for most of the day, the Dow Jones industrial average abruptly lurched into a hair- raising sky dive in the final hour of trading. By the time the 4 p.m. closing bell halted the rout, the index had dropped...
...side. "Investors now believe the Federal Reserve Board can deliver a 'soft landing' of subdued inflation by year-end, without a recession," says Byron Wien, chief domestic strategist for the investment firm Morgan Stanley, who since May has been predicting a new all-time high on the Dow. Elaine Garzarelli, a portfolio manager at Shearson Lehman Hutton, who was one of the few forecasters to warn of the crash in 1987, believes the Dow will top 3000 before the end of the year...
...portfolio managers who became stars during the bull market emerged from the crash notably tarnished. George Soros, 57, who until Black Monday was regarded as one of the canniest investors in Wall Street history, saw his Quantum Fund drop some 36%, to $1.67 billion. Other stars emerged overnight. Elaine Garzarelli, 36, a research analyst and fund manager for Shearson Lehman Bros., had emphatically predicted a collapse exactly one week before Black Monday in an interview on Cable News Network. Her stock fund, the Sector Analysis Portfolio, reportedly gained 5% during the week of the crash because Garzarelli had moved...