Henry Blodget
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Henry Blodget (born 1967) is a former securities analyst, first famous and later made infamous for his optimistic outlook of dot-com stocks during his tenure as senior Internet analyst for Merrill Lynch in the late 1990s and early 2000s. Like many other securities analysts working for investment banks during this time period, Blodget was not rigorously trained as an investor and was not a Chartered Financial Analyst. According to [thestreet.com], Blodget began his career as a freelance journalist and, according to the [Providence Journal], was a proofreader for Harper's Magazine.
Henry Blodget's predictions made him one of the most influential stock marketeers of the time. In October 1998, his unprecedented prediction that Amazon.com's stock price would hit $400 landed him a prized position at Merrill Lynch. In early 2000, days before the dot-com bubble burst, Blodget personally invested $700,000 in tech stocks, only to lose it all in the year that followed. By 2001, he accepted a buyout offer from Merrill Lynch and left the firm. By 2002, Eliot Spitzer had published Merrill Lynch e-mails which gave the public the graphic examples of the fraud behind certain analysts' published [stock recommendations]. In 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission. He settled and is banned from the securities industry for [life].
As of 2004, Blodget is a commentator for Slate Magazine; his writings carry a seven-paragraph disclosure of potential conflicts of interest. [link]
See also
- Jack Grubman
- Mary Meeker
- Frank Quattrone
External links
- [Blodget articles]
- [Internet Outsider] Henry Blodget's blog
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