Mr. Gutman was known for his witty, speculative and offbeat weekly market letters. His books included a compilation, ''The Gutman Letters'' (1969), and ''You Only Have to Get Rich Once'' (1961).
He also backed, wrote, starred in, narrated or directed several underground films, including ''Clothed in Muscle: A Dance of the Body'' (1981) and ''The March on Paris 1914 - of Generaloberst Alexander von Kluck -and His Memory of Jessie Holladay'' (1976).
During his years on Wall Street, he was a research chief, an economist and a newsletter writer at several brokerage firms.
Mr. Gutman was born in Chicago and graduated from Bowdoin College. He studied at the Art Students League and became a contributor on art to magazines such as The Nation, The New Republic, Art in America, Creative Art and International Studio.- From Mr. Gutman's NY Times Obituary April 30th, 1986