Julius Westheimer
Encyclopedia
Julius Westheimer was a financial advisor from Baltimore, Maryland. He is best known for his radio and television work, having dispensed financial advice on WBAL
Radio, WYPR
, WMAR, WBAL-TV
and PBS' Wall $treet Week
, and in columns in the Baltimore Sun, Baltimore Evening Sun, and Daily Record newspaper
s.
Westheimer was born on September 6, 1916, the son of Milton F. Westheimer, a Baltimore investment banker, and Helen Gutman Westheimer. In his youth, he published a neighborhood newspaper in Pikesville, Maryland
, and he later edited the campus newspaper at Dartmouth College
, where he earned a bachelor's degree in political science, was elected to Phi Beta Kappa, and graduated with honors in 1938.
He began work in the toy
department at Macy's
in New York
for $35 per week. Following World War II
, during which he served in the Army Air Corps
, he returned to Baltimore to work at Gutman's, the department store founded in 1877 by his grandfather, Julius Gutman. Westheimer eventually became the company's president. In an interview with the Baltimore Jewish Times, he later confessed that he "despised every minute of it." Feeling that he "just wasn't cut out for the retail business," he merged Gutman's with the Brager-Eisenberg department store, and left to begin a career in investment banking.
Westheimer joined the Baltimore investment house of Baker Watts & Co., now Ferris Baker Watts, in Hunt Valley, Maryland
, overseeing an investment management group for more than 30 years.
He married Ernestine Hartheimer in 1940, and they had two daughters. After her death in 1985, he married the late Dorrit Feuerstein Kohn (died November 29, 2009), in 1986. They were together until his death on August 31, 2005, six days short of his 89th birthday.
, then chief of The Sun's London bureau, which in turn led to Westheimer writing for the paper. He later had a regular financial column, Ticker, writing more than 2,300 columns from February 22, 1977 to December 28, 2001, along with many feature articles.
When Rukeyser started a syndicated television show about the stock market, he invited Westheimer to appear, which led to regular appearances on the PBS show Wall $treet Week for 29 years from 1971. In 1975, Westheimer began giving financial advice on Baltimore's WMAR TV station. He was employed as WBAL-TV 11's financial analyst in 1981, and began presenting daily financial and investment reports on WBAL Radio in 1982. He was inducted into Research magazine's Broker Hall of Fame in 1994.
He continued as WBAL's financial analyst until his retirement in 2004, presenting morning broadcasts on News Today. From 2004, he began appearing on Baltimore NPR affiliate WYPR-FM in a feature called Julius Westheimer's Money Minute, airing twice daily.
for 15 years, and security salesmanship lectures at the University of Pennsylvania
's Wharton School of Business.
In 1997, he published a book, Generation of Wealth: Time-Tested Rules for Worry-Free Investing (ISBN 0-9631246-9-2).
At one time he was president of the Associated Jewish Community Federation of Baltimore. He also served as treasurer of Temple Oheb Shalom
, and devoted much time to charity work.
WBAL (AM)
WBAL is a news-talk radio station located in Baltimore, Maryland, USA. WBAL broadcasts on a clear channel frequency with 50 kilowatts of power. Owned by the Hearst Corporation, WBAL's tri-mast transmitters are located in Randallstown, Maryland...
Radio, WYPR
WYPR
WYPR is a public radio station that services the Baltimore, Maryland metropolitan area. The station broadcasts on 88.1 MHz on the FM band. Its studio is in the Charles Village section of Baltimore and its transmitter is westward in the Park Heights section...
, WMAR, WBAL-TV
WBAL-TV
WBAL-TV is the NBC-affiliated television station in Baltimore, Maryland. It broadcasts a high definition digital signal on VHF channel 11. It is one of the flagship stations of Hearst Television, a wholly owned subsidiary of the Hearst Corporation, which also owns sister radio stations WBAL and...
and PBS' Wall $treet Week
Wall $treet Week
Wall $treet Week was an investment news and information TV program that was broadcast weekly each Friday on Public Broadcasting Service in the United States. It had a host and guest experts participating in discussions on the stock market and focuses on forecasts...
, and in columns in the Baltimore Sun, Baltimore Evening Sun, and Daily Record newspaper
Newspaper
A newspaper is a scheduled publication containing news of current events, informative articles, diverse features and advertising. It usually is printed on relatively inexpensive, low-grade paper such as newsprint. By 2007, there were 6580 daily newspapers in the world selling 395 million copies a...
s.
Westheimer was born on September 6, 1916, the son of Milton F. Westheimer, a Baltimore investment banker, and Helen Gutman Westheimer. In his youth, he published a neighborhood newspaper in Pikesville, Maryland
Pikesville, Maryland
Pikesville is a census-designated place in Baltimore County, Maryland, United States. Pikesville is just northwest of the Baltimore city limits. It is the northwestern suburb closest to Baltimore.The population was 29,123 at the 2000 census...
, and he later edited the campus newspaper at Dartmouth College
Dartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
, where he earned a bachelor's degree in political science, was elected to Phi Beta Kappa, and graduated with honors in 1938.
He began work in the toy
Toy
A toy is any object that can be used for play. Toys are associated commonly with children and pets. Playing with toys is often thought to be an enjoyable means of training the young for life in human society. Different materials are used to make toys enjoyable and cuddly to both young and old...
department at Macy's
Macy's
Macy's is a U.S. chain of mid-to-high range department stores. In addition to its flagship Herald Square location in New York City, the company operates over 800 stores in the United States...
in New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
for $35 per week. Following World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, during which he served in the Army Air Corps
United States Army Air Corps
The United States Army Air Corps was a forerunner of the United States Air Force. Renamed from the Air Service on 2 July 1926, it was part of the United States Army and the predecessor of the United States Army Air Forces , established in 1941...
, he returned to Baltimore to work at Gutman's, the department store founded in 1877 by his grandfather, Julius Gutman. Westheimer eventually became the company's president. In an interview with the Baltimore Jewish Times, he later confessed that he "despised every minute of it." Feeling that he "just wasn't cut out for the retail business," he merged Gutman's with the Brager-Eisenberg department store, and left to begin a career in investment banking.
Westheimer joined the Baltimore investment house of Baker Watts & Co., now Ferris Baker Watts, in Hunt Valley, Maryland
Hunt Valley, Maryland
Hunt Valley is an affluent unincorporated community in Baltimore County, Maryland, United States. It lies just north of the city of Baltimore, along Highway 145 off Interstate 83. Loch Raven Reservoir...
, overseeing an investment management group for more than 30 years.
He married Ernestine Hartheimer in 1940, and they had two daughters. After her death in 1985, he married the late Dorrit Feuerstein Kohn (died November 29, 2009), in 1986. They were together until his death on August 31, 2005, six days short of his 89th birthday.
Media career
Westheimer travelled the world, and made a habit of visiting the Baltimore Sun's foreign bureaus, as he believed that the staff would give him better sightseeing and dining advice than the travel agencies. This led to a chance meeting at a luncheon with editor Louis RukeyserLouis Rukeyser
Louis Richard "Lou" Rukeyser was an American financial journalist, columnist, and commentator, through print, radio, and television....
, then chief of The Sun's London bureau, which in turn led to Westheimer writing for the paper. He later had a regular financial column, Ticker, writing more than 2,300 columns from February 22, 1977 to December 28, 2001, along with many feature articles.
When Rukeyser started a syndicated television show about the stock market, he invited Westheimer to appear, which led to regular appearances on the PBS show Wall $treet Week for 29 years from 1971. In 1975, Westheimer began giving financial advice on Baltimore's WMAR TV station. He was employed as WBAL-TV 11's financial analyst in 1981, and began presenting daily financial and investment reports on WBAL Radio in 1982. He was inducted into Research magazine's Broker Hall of Fame in 1994.
He continued as WBAL's financial analyst until his retirement in 2004, presenting morning broadcasts on News Today. From 2004, he began appearing on Baltimore NPR affiliate WYPR-FM in a feature called Julius Westheimer's Money Minute, airing twice daily.
Other work
Westheimer gave investment evening classes at Johns Hopkins UniversityJohns Hopkins University
The Johns Hopkins University, commonly referred to as Johns Hopkins, JHU, or simply Hopkins, is a private research university based in Baltimore, Maryland, United States...
for 15 years, and security salesmanship lectures at the University of Pennsylvania
University of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...
's Wharton School of Business.
In 1997, he published a book, Generation of Wealth: Time-Tested Rules for Worry-Free Investing (ISBN 0-9631246-9-2).
At one time he was president of the Associated Jewish Community Federation of Baltimore. He also served as treasurer of Temple Oheb Shalom
Temple Oheb Shalom (Baltimore, Maryland)
Temple Oheb Shalom is a Reform synagogue in Baltimore, Maryland. The highest point in the city is located in its parking lot.-History:The congregation was founded in 1853 by Jewish immigrants from German Confederation member states...
, and devoted much time to charity work.