As Joe was a smart man and there was ‘extra money’, so to speak, in the household, Joe invested in the stock market to increase his wealth. I don’t know how he educated himself about the markets and companies and investment risks. He likely read and studied somewhat and then took a big load of money to a downtown Springfield stock brokerage office to invest in stocks that he had picked himself.
Back then, I remember that he had money in Shenley Whiskey and Allegheny Steel. On his days off, he would go to the brokerage office and watch the ticker tape come through and see how his investments were doing.
He read The Barron’s.
He would come home and at the dinner table tell us what had happened at the market that day and about a particular woman who was always in the Shearson-Hammil office. She was a Jewish woman, named Molly Shulman. [I would meet Molly Shulman many years later in a totally different experience.] She had blond hair and it was always a mess, said my father. I suspect she was quite a character and my father likely learned a lot from her. I could tell my mother didn’t like hearing about her: “Why doesn’t she fix her hair?”, my mother asked.
One day, Joe took my mother, and my brothers, and me to New York City to visit the New York Stock Exchange on Wall Street. I can remember being up in the gallery, looking down on all the men, scrambling about. There were no computers or electronics or women on the trading floor at that time. It was quite an adventure for a young girl like me.
Lesson Learned~Invest your money to create more wealth. Take risks.