And they want some respect. I sit at a computer all day," says star astrologer Henry Weingarten, who runs the New York-based Astrologers Fund and publishes a weekly astrology-based newsletter called of course Wall Street Next Week. Still, to the earthbound investor much of the society's talk can't help but come off as, well, out there.
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Though their approaches vary widely -- from simple CEO horoscopes to much more complex calibrations -- most of the group's members combine several varieties of astral analysis with more traditional techniques. On the celestial side, investment forecasts are based on correlations between planetary movements and historical cycles of equities, bonds, futures and other stuff.
Horoscopes for people and companies -- which are "born" on their IPO date -- also come into play. On the other side are more typical Wall Street measures. The jarring result, often, is an oxymoronic mix of Wall Street buzz words and planetary prognostications. For example, back when Microsoft made its bid for Intuit, fundamentals on the deal looked very good.
But Mr. Meridian saw Pluto -- the "Government" planet -- headed for a collision with Microsoft's chart.
Henry Weingarten, founder of The Astrologers Fund
He says he predicted the government would quash the deal, and made a tidy profit. More often, planetary movements seem to support fundamental stock analysis. Or at least err on the side of conventional wisdom. Take Mr. Weingarten's forecast. Since , he says, markets have been ruled largely by combinations of Jupiter and Neptune and Jupiter and Uranus, which mark "irrational exuberance" and "instant riches.
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He's predicting the Dow will finish at As for Internet stocks -- watch out! Saturn, a bad news or "descending" planet, is "coming into aspect of" Uranus, which rules technology. Probably sage advice. Problem is, few will say they get it from an astrologer. Members of the society interviewed for this story insist they have major Wall Street and Main Street clients, but none could persuade any from a name firm to admit to doing business by the stars. So, they use astrology and pretend that they think it's a joke. The International Society of Business Astrologers wants to change that.
Part of the problem is that business astrologers tend to be a lot harder to pin down than, say, your average fund manager. They're not rated in Morningstar. Lipper doesn't track performance. Another issue for conservative investors: the marketing moxie of boosters like the fast-talking Mr. Weingarten as a mutual fund manager, which he now calls an error. In one of four suits the agency filed in New York, Durante is accused of hiring Henry Weingarten, a financial advisor who relies on astrology to manage investments, to tout a stock on his Web site.
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Stocks allegedly manipulated were U. Dollars Corp. Former officers of the companies also are accused in the civil suits.
In the U. Shares were then at 1 cent. Durante traded shares among offshore accounts he controlled, making it appear as if there was a market in the stock, the SEC said. Durante allegedly gave Weingarten shares in the company as payment for touting the stock on Astrologers Fund Inc.
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