Henry Kaufman
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Henry Kaufman (born as Heinz Kaufmann 1927 in Germany) is a Jewish American economist and financial consultant.
Born in a small village named Wenings (Oberhessen) in Germany as son of a butscher. In 1937 his family left, fleeing the Nazi regime.[1]
Currently[when?] president of Henry Kaufman & Company Inc., from 1962 to 1988 Kaufman worked at Salomon Brothers Inc, where he was Managing Director and member of the Executive Committee. He was also a Vice Chairman of the parent company, Salomon Inc. Before joining Salomon Brothers, Dr. Kaufman served as an economist at the Federal Reserve Bank of New York.
He was well-known during the 1970s and early 1980s for the interest rate forecasts he wrote for Salomon, and for their bearish views, generally predicting that bond prices would decrease (interest rate would increase). Thus, he earned the nickname "Dr. Gloom."Template:Liar's Poker, Author-Michael Lewis-Former Solomon Brothers Trader However, Kaufman’s prediction on August 17, 1982 that interest rates would fall sparked a stock market rally that can be dated as the beginning of the 1980s bull market.[2]
Dr. Kaufman received a B.A. in economics from New York University, an M.S. in finance from Columbia University, and a Ph.D. from the New York University's Stern School of Business.
He was on the Board of Directors of the now defunct Lehman Brothers where he served as chairman of the Finance and Risk Committee prior to the firm's bankruptcy. On March 19, 2009 [3], Kaufman was named as a defendant in a lawsuit launched by New Jersey governor Jon Corzine on behalf of the state of New Jersey alleging fraud and misrepresentation associated with securities offerings undertaken by Lehman Brothers immediately prior to the firm's bankruptcy. The suit seeks compensatory damages of $118 million in addition to punitive damages. [4] The aforementioned suit was dismissed in lower court, and a subsequent appeal by the state was also dismissed by the United States Court of Appeals, Third Circuit; the court upholding the defendants claim of lack of appellate jurisdiction.[3]
Dr. Kaufman is a recipient of The International Center in New York's "Award of Excellence".
Dr. Kaufman is author of "The Road to Financial Reformation: Warnings, Consequences, Reforms", 2009, published by Wiley. (ISBN 978-0470532126)
[edit] References
- ^ Source: Frankfurter Allgemeine Sonntagszeitung 6.11.2011, page 48
- ^ “Dr. Doom (Nouriel Roubini) Himself May Hold Key to Market Recovery,” Thoughtsworththinking.net, posted April 24, 2009, http://www.thoughtsworththinking.net/2009/04/dr-doom-nouriel-roubini-himself-may-hold-key-to-market-recovery/.
- ^ a b United States Court of Appeals, Third Circuit. http://caselaw.findlaw.com/us-3rd-circuit/1524288.html
- ^ http://www.reuters.com/article/idUSTRE52G63920090317
[edit] External links
- Business Week "He's Not Just 'Dr. Doom,'" a review of Kaufman's book "On Money and Markets, A Wall Street Memoir"
- IMF review of "On Money and Markets"
