Before he became the trusted stock market analyst and co-anchor of TV’s first broadcast dedicated to economic news — Nightly Business Report — Paul Kangas was a lieutenant in the U.S. Coast Guard, deployed aboard an icebreaker in the North Atlantic and then assigned as an admiral’s aide in Cleveland.
It was in the Coast Guard that Kangas learned his first important lesson about the stock market: “Buy straw hats in January.” In other words, Kangas explained, “Buy stocks when no one wants them.”
To be sure, it takes more than a maxim to analyze the financial markets. But few broadcasters have digested as vast an amount of economic data daily and then delivered it in concise, contextual reports as consistently as Kangas has done for nearly 30 years on NBR.
But starting in 2010, NBR viewers — and there are an estimated 750,000 of them on an average night, according to Nielsen Media Research — will be getting their news from a new anchor.
Kangas is stepping down on Dec. 31. More…