In some families, the talent for investing just runs in the blood. One of the panelists at the fourth annual Women on Wall Street conference in New York last month was Jessica Bibliowicz, president and chief operating officer of John A. Levin & Co., New York, which has $8 billion in assets under management.
At a roundtable discussion on the current investment environment, Ms. Bibliowicz told a story about her 10-year-old son, Tommy, who owns two shares of Hershey Co. stock.
Last August, as the stock market was taking a nosedive, he asked her if she would buy him more stock in the Hershey, Pa.-based chocolate company. His reasoning: He had noticed that the stock market's problems had made his mother depressed and all her colleagues on Wall Street depressed.
"Everyone knows that chocolate cures depression," he said, pointing out that depressed people often eat a lot of chocolate, which should increase the value of Hershey stock.
It shouldn't be surprising that Ms. Bibliowicz's son has a knack for spotting good investments. He's also the grandson of Wall Street legend Sandy Weill, co-chief executive officer of Citigroup.