Al Gordon 105 year old Wall street guy has a few things to say:
Growth Strategy
When it comes to investing, Gordon looks for
companies that will grow for years, says Arthur
Byrnes, who is co-head of Deltec Asset Management
with Gordon's son John.
``Despite the fact that he's an old man, he buys
things not for a quick trade,'' Byrnes says. ``Al
is a long-term investor, if you can believe that
someone who's 105 years old can be a long-term
investor.''
Gordon favors countries with economies that will
support growth, and he says the U.S. has too much
debt. He says he liked Petroleo Brasileiro partly
because South America had been successful for
Kidder. Wal-Mart de Mexico and EnCana, Canada's
largest natural-gas producer, may grow, he says.
``I read that Wal-Mart was stationary but
Wal-Mart's Mexican subsidiary was on the move so
that was enough for me so I bought quite a bit of
Wal-Mart Mexico,'' he says. ``EnCana was owned by
the Canadian Pacific Railroad and so you knew that
its background was business, not government.''
Sleep and Run
A non-smoker who says he used to pay people to give
up cigarettes, Gordon ran in the London marathons
for the two years after his wife died in 1980. He
credits his long life to exercise and at least nine
hours of sleep a night. He would often walk or run
between city centers and airports in New York and
Los Angeles. He has three sons and two daughters,
all between the ages of 70 and 55.
When it comes to investing, at least one of
Gordon's contemporaries agrees that overseas stocks
can provide more robust returns than U.S. shares.
``Al Gordon is right,'' says Irving Kahn, 100,
chairman of New York-based investment firm Kahn
Brothers & Co. He says global wealth imbalances and
the rise of extremists should give investors pause:
``You don't have to be too alert to see how much
terrorism is spreading.''