Wall Street Wise Guy Marks 20 Years on the Air : Media: Against the gray flannel of the financial world, Louis Rukeyser is practically psychedelic.

Combining shameless puns with relevant statistics, Louis Rukeyser grins and winks his way into the homes of 10 million television viewers every Friday.

Since 1970, he has demystified the jargon and gyrations of the economy. His irreverent attitude toward the subject has made Wall Street Week one of the most popular half hours on public TV.

A 20th anniversary program with some top guests will air Friday. A one-hour retrospective will follow next Monday.

The rakish, white-haired Rukeyser, a dead-ringer for George Washington, is one of the most durable personalities on television, rivaling Mr. Rogers, Johnny Carson and Julia Child.

He is known for painful fits of prose. Answering a viewer’s letter on investing in a hairpiece manufacturer, he said, “If all your money seems to be hair today and gone tomorrow, we’ll try to make it grow by giving you the bald facts on how to get your investments toupee.”

After a market slump, he considered changing the name of the show to Wall Street Wake. He often consoles viewers by telling them to remember that it’s only their money, not their life.

“The teachers we all remember in high school and college were not the ones who put us to sleep,” he said of the show’s style. “I don’t think any of us should apologize for not being dull.”

People magazine has dubbed Rukeyser the only sex symbol of the “dismal science” of economics. New York’s Daily News identified him as the “economic guru of the industry.”

“Outside of the Wall Street Journal, Rukeyser has been a pioneer in demonstrating the popular appeal of quality business journalism,” said Los Angeles Times media critic Thomas Rosenstiel.

Rukeyser, 57, and three panelists--money managers and financial analysts--question a guest each week. The luminaries range from the chairman of the Securities and Exchange Commission to John Kenneth Galbraith.

Rukeyser doesn’t make predictions--although he says he’s a long-term bull. And he constantly issues disclaimers on stock tips that guests offer on the show. Nonetheless, their recommendations often cause specific shares to jump the week after the show airs.

Ralph Acampora, head of Prudential-Bache Securities’ technical analysis division, credits Rukeyser with launching business coverage on TV.

The former foreign correspondent for ABC and the Baltimore Sun became the first economic commentator for a network--ABC--in 1968. He moonlighted on the PBS show for three years before leaving ABC, complaining about television coverage of economics.

He still maintains that economics is the most poorly covered area of American journalism.

“The prevailing view is that the subject of economics is too dull and/or too complicated to hold an audience larger than the capacity of your average telephone booth,” he said. “I think that’s nonsense. I think there is a hunger in the American public for clear, believable, understandable, usable pocketbook information.”

Although he concedes that the economy is looking bleak right now, he’s quick to remind everyone that he doesn’t invest for short-term profit.

Rukeyser, who also writes a syndicated newspaper column, lectures and has written two books, is tough on his panelists and guests. He continually pleads with them to speak in English.

“Jargon is a very convenient shield for people not entirely sure of what they are saying,” he said.

He says he’ll keep doing the show as long as it’s fun, and as long as his audience wants him.