Ed Yardeni has resigned Prudential. There’s a note on Pru’s web page: “Effective 9/7/04, Ed Yardeni is no longer with the Prudential Equity Group.”
I hope that the good doc continues to maintain his excellent page: Dr. Ed Yardeni’s Economics Network
Here’s the link to a Bloomberg story on this:
Prudential Financial Inc.’s Edward Yardeni, one of the most bullish strategists on Wall Street, said Tuesday that he had left the firm to join Oak Associates Ltd., a money manager that oversees more than $8 billion in assets.
Yardeni, 54, will be chief investment strategist at Akron, Ohio-based Oak Associates, a firm that manages mutual fund, pension and endowment assets. He held the same title at the brokerage unit of Prudential, where he had worked since 2002. Prudential’s Edward Keon will succeed Yardeni, while keeping his positions as the firm’s chief U.S. equity strategist and director of quantitative research, a spokesman said.
“At some point, Wall Street strategists want to see if they are as good as they think they are,” Yardeni said in a telephone interview. “The only way you can do this is to go to a buy-side firm and establish a track record.”
Yardeni is one of the most optimistic strategists in Bloomberg News’ weekly survey of securities firms. He recommends that “moderately aggressive” investors put 70% of their assets in stocks, 20% in bonds and 10% in cash. . . .
Prudential Equity Group Announcement
Prudential’s Yardeni Joins Oak Associates
From Bloomberg News
September 8, 2004
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