KU student cleans up on stocks
By RICH LOVETT
A KU student is already putting his education to work almost as fast as he receives it and is getting sizeable amounts of cash for his trouble.
Frank Viscek, Prairie Village sophomore and business major, has made over $600 in the past six months by investing on the stock exchange. At the moment he is busy watching developments on another $830 he recently ventured on stock.
Viscek would be the first to tell you, however, that it is not easy or soothing to the nerves.
"EVEN AFTER TWO MONTHS of charting stock fluctuations, watching the market and talking to professors, my hand was shaking the first time I called my stock broker and told him to buy," he said. "I was using part of my college money as capital, so I was literally gambling with my education, and that's not a very comfortable feeling."
Viscek says he first got interested in the stock market while attending Rockhurst College in Kansas City, Mo. One of his economics professors acquainted the class with the Wall Street Journal and explained procedures for trading on the stock exchange. The lure of the fast buck prompted him to seek more information on investing.
His first stock purchase was 70 shares of an oil stock costing him $237.
KU People-to-People announced its delegates to the organization's national convention in Kansas City October 6.7 and 8.
P-to-P picks delegates to convention
Delegates appointed at a board meeting last night were: Frank Hummer, Topeka sophomore; Halley Kampschroeder, Lawrence senior; Steve Ridgway, Lawrence sophomore; Sandy Graham, K.C., Mo., senior; Sam Pestinger, Beloit junior; and Dale Sprague, McPherson senior.
ACCORDING TO Sprague, president of the organization, the delegates hope to gain insight into the national and international People-to-People organizations and further coordination between community and university chapters.
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fall and you can buy it back cheaper than you sold it. You are required only to give the stock back to its owner, so if you make any profit from the use of the stock, it's yours to keep."
LOW RATES
After that he sat in on ten discussions at a broker's office where prospective buyers and brokers meet to discuss the leading issues of the week and exchange ideas on recent market
Gene Doane Agency 824 Mass. St.
{"text": "Twenty-two days later, after sweating it out, I sold it at a net profit of $15," he said. "My broker made more on that sale than I did."}
"Even then my next买 was on impulse," recalls Viscek. "I bought $360 worth of electronics stock. Unfortunately the price fell and I lost about $100. Getting my fingers burnt like that once was enough. I've been more careful since."
trends. He also began reading several business and market magazines.
HE EXPLAINS, "Once your credit is established you can borrow stock from its owner and have ten days to give it back. Meanwhile it's yours to invest. The idea is to sell it while the price is high, then hope that during those ten days the price will
Evidently it paid off. Viscek netted $750 on his third try by using a method known as "selling short."
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