V.5:11 (369-370): On tips and tipsters by Vincent Cosentino

V.5:11 (369-370): On tips and tipsters by Vincent Cosentino
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On tips and tipsters by Vincent Cosentino

Charles Schwab, of discount brokerage fame, was quoted as saying: "I don't give (stock) tips." While Mr. Schwab may not, it seems just about everybody else does. Turn on your TV, pick up the local newspaper, glance through a business magazine and somebody is recommending some stock. Provocatively entitled columns such as "Heard On The Street" and "Inside Wall Street" bespeak the imminent disclosure of furtively gained confidences from Wall Street's most inaccessible files.

Journalistic puffs of steam? Or, are we really going to see fire and lava? Can these tipsters, with their ears supposedly on the track, hear the train a-coming?

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