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?