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SYSTEM ABUSE

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SYSTEM ABUSE
Ralph Acampora of Alverita at the Helmsley Hotel
We also dropped by the Helmsley Hotel yesterday to hear Wall Street tech analysis maven Ralph Acampora of Alverita discuss the economy, at IREM NYC’s monthly luncheon. We, as individuals,abused the system and the SEC didn’t do anything, he says: “We forgot what capitalism is”and now we have to fix it. He feels that perception is reality in the stock market, and emotions have poisoned people—like the dot-com euphoria. Forget a depression; we’re just back to the stock market of the ‘60s and ‘70s, he says. We can have a 4-5% GDP growth, even though it will go back down.
Penmark Realty Corp.’s Jeffrey Klarfeld (IREM chapter prez) and Jack Barouh flank NAI Long Island’s Frank Socci
Penmark Realty Corp’s Jeffrey Klarfeld (chapter prez) and Jack Barouh flank NAI Long Island’s Frank Socci. Frank tells us that in their sector, members say there’s been a slight uptick in activity, even though it may not mean new business—but it’s still a good sign. The association also installed three new accredited commercial managers yesterday: NAI Long Island's Nancy Scoca and Joseph Sofield and Urstadt Biddle Properties's Daniel Logue.