This week, our Masters in Business radio podcast, we speak with Henry Blodget of Business Insider. He is a controversial history, and his story is that of a rise and fall, and now, redemption of sorts.
He was an unknown analyst at Oppenheimer in the 1990s, but he burst into the public eye when he put a $400 price target on Amazon. The stock hit his 1 year number in 3 weeks, and a Wall Street media darling was born. When NYAG Eliot Spitzer was looking for a scapegoat to pin blame for the dotcom implosion, Blodget was the perfect fall guy. He paid a $4 million fine, and was banned from the securities industry for for life.
Since then, he formed Business Insider, one of the fast growing news websites, which includes amongst its financial backers Amazon founder Jeff Bezos.
Blodget still remains a controversial character to some. He remains humble, an intelligent, amiable and articulate person, with a unique perspective on investing and media. Blodget proves there are second chapters in American life.
Next week, we speak with the Vanguard Group CEO Bill McNabb.