Cold Call: Joe Biondo Sr.

When did you know you wanted to become an investment advisor?

When I was 17 years old, a friend introduced me to the stock market. We bought 10 shares of stock and made some money, and I was hooked. The stock was Armour Meat warrants. We bought it at $17 a share, and it went to $38 a share within months.

What is the longest time you've spent in the kitchen cooking?

It took me a couple of days to prepare everything for a spaghetti-and-meatball dinner party my family held for 41 underprivileged children one Christmas.

One book that has done the most for your business?

Extraordinary Popular Delusions and the Madness of Crowds, about crowds that get caught up in thinking some investments may go up forever.

What is the oddest thing a client has ever asked you to do?

When I was about 25 years old, I had a wealthy client who was daytrading. He bought 4,000 shares of a $147 stock in the morning, and by 1:30 p.m. it was down to $106 and had stopped trading. At 3:25 p.m. (the market closed at 3:30 then), with $600,000 at stake, he walked out the door, saying he was going back to work and told me to “do whatever you want, kid.” The stock didn't reopen that day.

I hear you race sports cars. What kind, last race and fastest speed?

Ferrari 430 Spider convertible; last year at Watkins Glen with the Ferrari Club; 155 miles per hour.

What do you feel is your biggest accomplishment?

Raising a family of 14 and hearing people compliment the character of our children to my wife and me.