Ed Yardeni resigns Prudential

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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. . . .

Sources:
Prudential Equity Group Announcement
http://www.cm1.prusec.com/cmi.nsf/(YardeniHome)?OpenAgent

Dr. Ed Yardeni’s Economics Network
http://www.cm1.prusec.com/yardweb.nsf/(YardeniHome)?openagent

Prudential’s Yardeni Joins Oak Associates
From Bloomberg News
September 8, 2004
http://www.latimes.com/business/la-fi-wrap8.2sep08,1,7620466.story?coll=la-headlines-business

What's been said:

Discussions found on the web:
  1. spencer commented on Sep 9

    You should wonder about why anyone would remain a sell-side analyst as long as Ed has. He has made his money and his reputation. Now he can have some free time and enjoy life and does not have to spend half his time on the road.

    It is one thing to do that when you are 30 and a completely different thing do do it when you are over 50.

  2. H C Jordan, PhD commented on Sep 15

    Best of luck!
    Where will I find your economics net, including the Fed Stock Valuation Madel ?

  3. Warner commented on Sep 16

    I found Ed’s Economic Network invaluable – I hope he maintains the website in some form or another. I’d be willing to pay a modest fee to gain access. Thanks for all of the good work!

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