CBS Highlights Wall Street Icon's Achievements
Over the past year and a half, CBS business correspondent Anthony Mason has filed downbeat report after downbeat report for â€śCBS Evening Newsâ€ť â€“ so negative that at in January 2008 anchor Katie Couric labeled him the â€śgrim reaper.â€ť
But on the Oct. 28 broadcast, Mason had an upbeat report: a profile of 94-year-old businessman Seth Glickenhaus, the chief investment officer and senior partner of Glickenhaus & Co., a Wall Street investment firm.
According to the report, Glickenhaus is veteran of several cataclysmic financial events in
â€śThe pessimism was very thick at that point,â€ť Glickenhaus said about the Great Depression. â€śPeople were nervous as hell.â€ť
However, he stuck with it, according to Mason: â€śGlickenhaus has made a fortune by choosing well. As BusinessWeek reported in 1959, after making an $8 million killing, he quit the street to go to medical school.â€ť
â€śIn the decade after the 1987 crash, his company was the top-ranked money manager in the country with gains of more than 500 percent,â€ť Mason said. â€śNow he sees opportunity again.â€ť
Glickenhaus has applied lessons from previous crises in his approach to current conditions. While he said he wasnâ€™t comfortable with the volatile wild swings in the financial markets, he isnâ€™t shying away.
â€śBut do I feel that there's going to be great monies made in the years? And how!â€ť Glickenhaus said.