Fast Money's Oldest Fan
Bob Lawrence enjoys a lot of great titles: grandfather, great-grandfather, great-great grandfather. And at 90 years old, he enjoys another great title: "Fast Money"'s oldest fan!
We'll be profiling Bob on tonight's show and he's a terrific guy. I took the 90-minute drive to his home in the sleepy, tiny, remote town of Boulder Creek, California, in the Santa Cruz mountains west of Silicon Valley.
He's an avid CNBC fan, but "Fast Money" is his favorite.
"I like their banter, and I like their suggestions on stocks," he tells me.
He putters around his mountain home, cane in hand, TV tuned to CNBC. And while "Fast Money" is his favorite show, he still has some criticisms:
"They're talking a hell of a lot faster than I can keep up with," he complains, with a chuckle.
The show's important to him because he lives off his investments and their dividends. He says he's done very well with Freeport-McMoRan and Las Vegas Sands , even though that latter investment took an embarrassing turn.
"There's two of 'em, you know, and I bought the wrong one that first time -- well I didn't check. I was dumb. Then I called them up and asked 'em if they were going to Macau, and they said, No, you got the wrong company, so I immediately sold that and took a little loss. So I bought the other one," he tells me.
Bob's had an interest in stocks for the past 60 years, selling a portion of the early stock he got while working at Northrop to help pay his tuition at UCLA.
"I didn't have two dimes or nickels to rub together. I graduated from high school in '34 and right in the middle of the depression," he says.
But once he did come up with a little extra money, he'd go down EF Hutton, drawn to the company and its tempting way of updating stock prices.
"They had these big boards. You probably have never seen them, and they had these catwalks and good looking girls were up there charting down the prices as they were called to them as some broker read 'em off the tape."
Today, Bob makes the steep trek down a staircase to his personal computer downstairs where he keeps track of all his investments and watches his portfolio like a hawk. And he's doing pretty well. He even used the profits from a recent trade to fix up his roof, and relying on Fast Money to keep him honest.
"I still enjoy it," he tells me. "I think the day I die I'll be buying stocks. Or selling. At a profit I hope!"
And with a regular 20% annual return, so far, so good.
Meet Bob today on "Fast Money." He'll be calling into the show.
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