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Blinder parlayed a $5,000 investment by the Colorado governor, Richard D. ''They'd call the third time and sink the hook,'' Phil Feigin, a former Colorado securities commissioner, told The News. In the second, the salesman would say he had nothing to sell now, but might have something later. In the first call, the salesman would introduce himself. Blinder invented the ''three-call system'' for telemarketing, according to an obituary in The Rocky Mountain News on Sunday. Blinder bought a Denver brokerage firm that was in bankruptcy. Robinson could not stand the pace and soon left nothing but his name.

#Penny stocks app for mac mac#

Blinder and a friend, Mac Robinson, began a storefront operation in Westbury, N.Y., to sell over-the-counter stocks. They sold stock in their business, earning enough to retire for a few years in the 1960's. After the war, he and his brother ran a vending route for coffee machines in Brooklyn and Manhattan. He served in the Army during World War II and was peppered with shrapnel during the invasion of Normandy. His nose was gnarled like a prizefighter's because a customer slammed the door in his face when he was selling vacuum cleaners.Īt 18, he invested $150 in his first business, a textile remnants operation. He began working in the candy store at 8, and instead of attending high school, got a job pushing carts in the garment district in Manhattan. In 1987, Fortune described the market this way: ''Stocks trading up to 5,000 times their projected earnings get passed back and forth in what some penny players call the chaser market, the chase being after rumors.'' They are not listed on stock exchanges, and there is often a lack of reliable information about them. Penny stocks are low-cost, high-risk securities, usually trading for less than $3 a share. In 1992, he was convicted on six counts of racketeering, money laundering and securities fraud and spent 40 months in a federal prison.

But in 1990, his company, which at one time had 66 offices in 37 states, was liquidated. Blinder spoke of challenging Merrill Lynch for industry leadership. In 1986, his firm, Blinder, Robinson & Company, ranked 10th in the nation in the number of brokers it employed in an interview with The Wall Street Journal, Mr. He said his father also had Alzheimer's disease.

The cause was a heart attack, his son Larry said. Meyer Blinder, who with his gold jewelry and extravagant promises became the self-proclaimed king of the nation's penny stock market in the 70's and 80's, died last Thursday in Scottsdale, Ariz.