Henry Blodget
Henry Blodget | |
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Merrill Lynch during dot-com bubble |
Henry McKelvey Blodget (born 1966) is an American businessman, investor and journalist. He is notable for his former career as an
Early life and education
Blodget was born and raised on Manhattan's Upper East Side, the son of a commercial banker. He attended Phillips Exeter Academy and received a Bachelor of Arts degree in history from Yale University, where he was a member of The Society of Orpheus and Bacchus.
After college, he taught English in Japan, then moved to San Francisco to be a writer while supporting himself by giving tennis lessons. He was also a freelance journalist and a proofreader for Harper's Magazine.[1]
Investment career
In 1994, Blodget joined the corporate finance training program at
In early 2000, days before the dot-com bubble burst, Blodget personally invested $700,000 in tech stocks, only to lose most of it in the years that followed.[7] He accepted a buyout offer from Merrill Lynch and left the firm in 2001.[1]
Fraud allegation and settlement
In 2003, Blodget was charged with civil securities fraud by the U.S. Securities and Exchange Commission.[8] and settled the charges with a payment of $4 million without admitting or denying the allegations and their underlying facts and findings. He was permanently barred from the securities industry and censured by the SEC, NASD, and NYSE.[9]
The charges arose from actions Blodget took from 1999-2001 while at Merrill Lynch, which included issuing materially misleading research reports on internet companies, and making exaggerated or unwarranted claims about them to customers.
Writing
Following his departure from the financial markets, Blodget resumed his career as a financial and economics writer. He was appointed CEO of Cherry Hill Research, a research and consulting firm, and contributed to
Blodget rose to prominence again as co-founder, CEO, and editor-in-chief of Business Insider (initially known as Silicon Alley Insider) in 2007. He was also a frequent contributor to the Seeking Alpha website at the same time.[10] While CEO and owner of Business Insider, he offered free reproduction of all content to readers under Creative Commons licensing. In 2014, Jeffrey Bezos purchased a stake in Business Insider.
In November 2023, it was reported that Blodget would no longer be the CEO of Business Insider.[11] He no longer contributes articles to Slate, Newsweek, and New York magazine. Blodget's articles focus on the return-limiting actions of individual investors, including listening to analysts and the financial media, and relying on active management such as mutual and hedge funds. His Slate articles about investing carry a seven-paragraph disclosure of potential conflicts of interest.[7]
In January 2007, Blodget published The Wall Street Self-Defense Manual: A Consumer's Guide to Intelligent Investing.[12]
Internet broadcaster
Blodget used to co-host the Daily-Ticker[13] broadcast with Aaron Task weekdays at Yahoo! Finance.
Bibliography
- The Wall Street Self-Defense Manual: A Consumer's Guide to Intelligent Investing. Atlas Books, 2007. ISBN 0-9777433-2-2.
References
- ^ a b c McGeehan, Patrick (November 15, 2001). "Henry Blodget to Leave Merrill Lynch". The New York Times.
- ^ Factual allegations as submitted by SEC
- ^ https://www.newyorker.com/magazine/2013/04/08/business-outsider "Business Outsider," New Yorker magazine April 1, 2013
- ^ "Business Insider grew in 12 years to a monster digital enterprise. Now CEO Henry Blodget has plotted a new wave of expansion". Poynter. January 15, 2020. Retrieved September 2, 2020.
- ^ a b "The Rehabilitation of Henry Blodget". The Motley Fool. November 24, 2004. Retrieved January 30, 2007.
- ^ "Report Card:Henry Blodget". TheStreet.com. Archived from the original on December 5, 2006. Retrieved January 30, 2007.
- ^ a b "The Wall Street Self-Defense Manual, Part 4" by Blodget, with sidebar
- ^ Factual allegations as submitted by SEC
- ^ "The Securities and Exchange Commission, NASD and the New York Stock Exchange Permanently Bar Henry Blodget From the Securities Industry and Require $4 Million Payment". SEC. Retrieved April 21, 2007.
- ^ "Home". Silicon Alley Insider. Retrieved July 6, 2015.
- ^ Bruell, Alexandra (November 14, 2023). "Insider Co-Founder Henry Blodget Steps Down as CEO Amid Strategy Shift". Wall Street Journal.
- ISSN 0362-4331. Retrieved September 2, 2020.
- ^ "Yahoo Daily Ticker".
Further reading
- Auletta, Ken (April 8, 2013). "Business outsider : can a disgraced Wall Street analyst earn trust as a journalist?". Annals of Communication. The New Yorker. Vol. 89, no. 8. pp. 30–37. Retrieved December 21, 2015.
External links
- Silicon Alley Insider Henry Blodget's multi-author technology blog
- Business Insider Blodget is currently editor of Business Insider
- "The Wall Street Self-Defense Manual". Archived from the original on July 5, 2015. Retrieved March 10, 2021.
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: CS1 maint: unfit URL (link) – Promotional site for Blodget's first book. - Appearances on C-SPAN