“Wall Street Week” – A Review
I was glad to see that someone decided to revive the iconic program that has been, for all intent and purposes, absent since 2002. If you remember, “Wall Street Week with Louis Rukeyser” was a staple on Friday evenings from January, 1972 until Lou was let go by its Maryland Public Television producer. PBS tried to continue the series with Fortune magazine, but the program was never the same without Rukeyser’s trusted presence. This Sunday, a number of Fox broadcast affiliates brought the show back to life with a new format, but with the same cerebral discussions that have been lacking by the noise of the talking heads from the likes of CNBC. The show is co-hosted by Anthony Scaramucci, founder and managing partner of SkyBridge Capital and Gary Kaminsky, former chairman of Wealth Management at Morgan Stanley. My initial reaction to the revival is positive. The debut episode focused on fixed income, and the discussions from the panelists were very informative and on point. The overall dialogues and the premise of the program also targets the long-term investor – for a welcome change. The format of the original program has been modified from a rotating panel of guests followed by an interview from a noted Wall Street guru to a small panel of what will likely be weekly invitees concentrating on a specific subject within the broad range of finance, the economy and the stock market. The program was low-key and will not be of interest to those looking for raucous entertainment in an effort to find the next stock pick of the trading week. According to the program’s website, only four Fox affiliates have so far picked up the series: New York, San Francisco, Chicago and Washington, D.C. The timing of the program – Sunday morning in New York – is not great, but that’s what DVRs are for. Also, full episodes and excerpts appear on their website: wallstreetweek.com. The cozy atmosphere of the old “Wall Street Week with Louis Rukeyser” has given way to the more common sports show-like view, but only a minor negative. And Scaramucci, while respectful of Rukeyser and what he brought to investing, did not try to mimic his unparalleled style. While the jury is still out as to the program’s endurance on television, it was, to me, a breath of fresh air.