RON POLLACK AND GRANDPA MAX
Ron’s grandfather was an avid investor. Having fled to America from Russia as a young child, he eventually became a successful businessman and retired early. He then put all his money into stocks. Max liked blue chips. He was proud to own pieces in some of the largest companies in the world. And while he was a small investor in those companies, they were a big part of his life. “Boeing,” he would tell everyone he would meet. “You have to buy Boeing. Commercial jet travel is the wave of the future, and you can be a part of it. Buy Boeing.” He also owned US Steel, JP Morgan, GM, etc. He was the classic long-term investor, and he did very well. But Max also loved the market. Every day, he would check the stock quotes in the newspaper; every week he would read Barron’s; and he never missed an episode of “Wall Street Week with Louis Rukheyser.” And every day, he would “go to the office,” that is his local stockbroker, which was just a short drive from his condo complex. Of all Max’s grandchildren, Ron was the only one who had interest in finance and the markets; so when Ron would come to Florida to visit, he would share in Max’s rituals. Ron can still recall the nearby Shearson office. A bunch of old men would sit there, watching the ticker tape up on the wall (there was no CNBC, no Etrade, no Bloomberg, no Internet.) Max would walk in with his grandson, and proudly announce “He goes to Yale” (or later “to Harvard” or later “works at Goldman Sachs.) And then they’d all talk for a while, while the men told stories about their lives, their families and their favorite stocks. Invariably, one of the old men would ask Ron for his favorite pick. “Boeing, of course,” he’d reply. And his grandfather, somewhat bent with old age, would suddenly stand up a bit taller, and with a twinkle in his eye, give an approving smile.