O'Reilly logo

Clash of the Financial Pundits: How the Media Influences Your Investment Decisions for Better or Worse by Jeff Macke, Joshua M. Brown

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTER 8

REDEMPTION SONG

A CONVERSATION WITH HENRY BLODGET

 

In 1998 Henry Blodget became a very public face of the bubble by putting an audacious presplit $400 price target on Amazon.com. When the stock reached that mark within 60 days, a star was born.

In 2002 that same star was disgraced and publicly lynched when then-New York attorney general Eliot Spitzer published e-mails Henry had written while working at Merrill Lynch. The e-mails rather vaguely conflicted with his favorable published ratings of several of the stocks he was covering as a hotshot Internet analyst. The prosecution was one of the first based on the use of internal e-mails as evidence of fraud.

The complaint was settled when Blodget agreed to a total of $4 million in fines ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required