AT 95, BROKER'S REALLY GOOD AT THE LONG VIEW

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, February 28, 1992                   TAG: 9202280091
SECTION: BUSINESS                    PAGE: B4   EDITION: METRO 
SOURCE: Associated Press
DATELINE: CHICAGO                                LENGTH: Medium
AT 95, BROKER'S REALLY GOOD AT THE LONG VIEW
The oldest investment advice is still the best, says stockbroker Walter Tintner. He ought to know - he's 95.
Take a long-term view, buy blue chip stocks, reduce risk as you age. Tintner has been dispensing and following his advice for more than 70 years at what is now Shearson Lehman Brothers Inc.
Tintner also has taken a long view on his life. He said he never gave a thought to another career after landing a job with Shearson Hamill & Co. in 1916 as a runner at the Chicago Board of Trade for $6 a week.
Seven years later, after earning a Northwestern University business degree in night school, Tintner moved into the vice presidential ranks at Shearson.
Company bylaws mandated he retire from management at 65, but he stayed on as a broker.
"I work because I think that if you retire, you become an old man quicker," he said.
So the wiry, 5-foot-6 broker arrives at his downtown office each weekday at 6:45 a.m. and leaves at 4 p.m.
"I just follow the news each day and give a thought to what I think the market might do," he said.
During the great economic boom of the 1980s, Tintner said, many investors bought into a fantasy of making an overnight killing in the stock market.
"That doesn't happen," he said. "The only ones who can make money quickly are the rich, because they have a lot to start with. Instead of buying 100 shares of stock they'll buy 2,000 shares."
Steady investment in proven stocks is the key to solid returns over time, Tintner said.
"General Motors is more or less a dull stock, but if you bought General Motors years ago and still have it, you've made a hell of a lot of money and you'll make more money," he said. "They'll be around long after you and I are gone."

by Bhavesh Jinadra by CNB