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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (26801)	6/4/1999 3:54:00 AM
From: IQBAL LATIF	Respond to of 50167

Streisand sings praises of Wall St June 4 1999 BUSINESS NEWS FROM ADAM JONES IN NEW YORK BARBRA STREISAND has emerged as America's latest stockpicking guru after almost doubling $1 million (£620,000) given to her by Donna Karan, the fashion designer, in five months of trading. Ms Streisand was given the money to invest after she told Mrs Karan about her success with eBay, the Internet auction house. Buying eBay made $130,000 for her in one month, according to the latest edition of Fortune magazine. She had a shaky start with Ms Karan's money, investing in eBay and Amazon.com, only to see the shares drop heavily on the first day. She said: "I couldn't even call her, I was heartsick." All came good, however, and the portfolio was worth $1.8 million after five months. Ms Streisand's stock choices in the past have included America Online, the Internet service provider; and Pfizer, the drug company. Ms Streisand confirmed that she rises at 6.30 every weekday morning in California so she can watch the New York markets open. In describing her investment strategy, Ms Streisand sounded remarkably like Warren Buffett, the so-called Sage of Omaha, who recommends investing in companies with familiar products. She said: "We go to Starbucks [the coffee chain] every day so I buy Starbucks." Some of the stocks favoured by Mrs Streisand have been pummelled in recent weeks. America Online has fallen 22 per cent since mid-May. Amazon.com has nearly halved in value since late April. Pfizer has also struggled. One needn't fear too much for the diva's finances. Most of her wealth is invested more conservatively by Todd Morgan, a Hollywood money manager.