Henry Blodget
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Henry Blodget (born 1966) is an American former equity research analyst who was senior Internet analyst for CIBC Oppenheimer during the dot-com bubble and the head of the global Internet research team at Merrill Lynch.[1] Blodget is now the editor and CEO of The Business Insider, a business news and analysis site, and a host of Yahoo Daily Ticker, a finance show on Yahoo.
Blodget received a Bachelor of Arts degree from Yale University and began his career as a freelance journalist and was a proofreader for Harper's Magazine.[1]
In 1994, Blodget joined the corporate finance training program at Prudential Securities, and, two years later, moved to Oppenheimer & Co. in equity research. In October 1998,[2] he predicted that Amazon.com's stock price would hit a pre-split price of $400 (which it did a month later, gaining 128%).
This call received significant media attention, and, two months later, he accepted a position at Merrill Lynch.[2][3] In early 2000, days before the dot-com bubble burst, Blodget personally invested $700,000 in tech stocks, only to lose most of it in the years that followed.[4] In 2001, he accepted a buyout offer from Merrill Lynch and left the firm.[1]
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Fraud allegation and settlement [edit]
In 2002, then New York State Attorney General Eliot Spitzer, published Merrill Lynch e-mails in which Blodget gave assessments about stocks which allegedly conflicted with what was publicly published.[5] In 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission.[6] He agreed to a permanent ban from the securities industry and paid a $2 million fine plus a $2 million disgorgement.[7]
Writing [edit]
As of 2012 he is co-founder, CEO/Editor-in-Chief of The Business Insider, a blog about Internet business trends and research. He is a frequent contributor to the magazines Slate, Newsweek and New York. He began writing for Slate in January 2004, initially covering the Martha Stewart trials. In July 2004, Blodget began writing a four-part, 13 article, series entitled "The Wall Street Self-Defense Manual" for the magazine. [8]
Blodget's later articles for the magazine have focused on the return-limiting actions of individual investors, including listening to analysts and the financial media, and relying on active management such as mutual and hedge funds. His Slate articles about investing carry a seven-paragraph disclosure of potential conflicts of interest.[4]
He published The Wall Street Self-Defense Manual: A Consumer's Guide to Intelligent Investing in January 2007.
Current career – Internet broadcaster [edit]
As of April 2011, Blodget co-hosts the The Daily-Ticker[9] broadcast with Aaron Task weekdays at Yahoo! Finance.
Books [edit]
- The Wall Street Self-Defense Manual: A Consumer's Guide to Intelligent Investing. Atlas Books, 2007. ISBN 0-9777433-2-2.
References [edit]
- ^ a b c McGeehan, Patrick (November 15, 2001). "Henry Blodget to Leave Merrill Lynch". The New York Times.
- ^ a b "The Rehabilitation of Henry Blodget". The Motley Fool. Retrieved 2007-01-30.
- ^ "Report Card: Henry Blodget". TheStreet.com. Retrieved 2007-01-30.
- ^ a b "The Wall Street Self-Defense Manual, Part 4" by Blodget, with sidebar
- ^ "Vested Interest". PBS. Retrieved 2007-01-30.
- ^ Factual allegations as submitted by SEC
- ^ "The Securities and Exchange Commission, NASD and the New York Stock Exchange Permanently Bar Henry Blodget From the Securities Industry and Require $4 Million Payment". SEC. Retrieved 2007-04-21.
- ^ "The Complete Guide to Wall Street Self-Defense". Slate.com. Retrieved 2008-04-04.
- ^ "Yahoo Daily Ticker".
External links [edit]
- Silicon Alley Insider Henry Blodget's multi-author technology blog
- Internet Outsider Henry Blodget's old blog
- The Wall Street Self-Defense Manual – Promotional site for Blodget's first book.
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