The death of Martin Zweig, author of Winning on Wall Street and a frequent panelist on Wall Street Week, was reported yesterday.
Zweig’s realistic assessment of the prospects for stocks was a refreshing change from the usually upbeat panelists and guests on Louis Rukeyser’s PBS show. Not that Zweig was always bearish; he was frequently bullish, but almost always nervous.
Zweig began his career writing an investment newsletter, the Zweig Forecast, which was published from 1971 to 1997.
Zweig’s untimely passing at 71 makes one realize how short life is.
In this Wall Street Week clip, a youthful looking Zweig predicts a stock market crash on Friday, October 16, 1987, right before the shocking 23 percent record one day collapse in the Dow Jones Industrial Average on Monday, October 19, 1987.