Martin zweig children
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On the television show Wall Street Week on Friday, Oct. 16, 1987, investment adviser Martin Zweig was asked if he thought the bull market was ending. “I’ve been really, in my own mind, looking for a crash,” he said. It came on the following Monday—now known as Black Monday—when the Dow Jones industrial average plunged a record 23 percent. Those who had taken the advice Zweig laid out in his newsletter came out 8.7 percent ahead that month, and he became famous.
Born in Cleveland, Zweig became interested in the stock market at 13, “when he received a gift of six shares of General Motors Co. from an uncle,” said Bloomberg.com. He attended the Wharton School at the University of Pennsylvania, then earned an MBA from the University of Miami and a Ph.D. in finance from Michigan State.
In those years, most finance experts considered it impossible to outearn the market, said MarketWatch.com. “Zweig somehow escaped this academic orthodoxy.” In his newsletter, The Zweig Forecast, and his later career as a hedge-fund manager, &
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The Life and Legacy of Martin Zweig
The Technical Analysis 101 blog series is your guide to understanding trading concepts, price patterns, and technical indicators. Every post will focus on a specific topic to expand your knowledge and elevate your trading game.
Martin Zweig, a man famously known for his exceptional intellect and unconventional investment approach, was a force to reckon with in finance. As an American stock investor, investment adviser, and financial analyst, he made a significant impact that continues to resonate today. In this post, we will delve into the fascinating life and times of Martin Zweig, examining his exceptional work, achievements, and the legacy he left behind.
Early Life and Beginnings
Born on July 2, 1942, in Cleveland, Ohio, Martin Edward Zweig showed a keen interest in finance from a young age. He graduated from the Wharton School of Finance at the University of Pennsylvania, earning a Bachelor’s degree in Economics in 1964. He pursued his MBA from the University of Miami in 1965 and later completed his Ph.D. in Finance in 1972
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Made Headlines And Moved Markets: Martin E. Zweig W64
As the stock market was pressing higher and higher in the summer of 1987, Martin Zweig had a feeling enough was enough. In the hedge fund he ran and in the Zweig Forecast, the newsletter he wrote, he turned to put options, the market device that allows their owners to sell shares at a particular price—a bet that that price will be going down. In October, the market collapsed, and while the big averages lost a quarter of their value in one day, Zweig’s portfolio rose 8.7 percent and 50 percent for all of 1987. The former finance professor at Baruch College and Iona University was certified a stock genius.
In truth, Zweig had already been, and would continue to be, a well-respected analyst and investor. He had started his newsletter in 1971 and his hedge fund in 1984, well before those limited high-end-investors became the rage. While still a professor, his by-word was, “Don’t fight the Fed.” That meant, according to Zweig’s theory, that if interest rates were going down, stocks would go up, and vice versa. He also claimed the
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