Prudential Fires Acampora, Shuts Technical Analysis Department 2005-10-04 14:26 (New York) By Daniel Hauck Oct. 4 (Bloomberg) -- Prudential Equity Group LLC fired its chief technical strategist, Ralph Acampora, as the firm shut its technical analysis department to cut costs. ``As of today, we no longer have a technical research department,'' Prudential spokesman Jim Gorman said in a phone interview. Acampora had served as director of technical research at Prudential since 1990. From 1980 to 1990, he was director of technical research at Kidder Peabody & Co. He was voted a runner-up among technical analysts in Institutional Investor's 2004 survey. The firing was first reported by Dow Jones Newswires. --With reporting by John Melloy in New York. Editors: Melloy.
Ralph is one of the last few talking heads worth listening to. His TA class is well worth taking for newbies.
... and that is an extremely poor statement from any company that parts way with a managing director and especially someone with such a long record on the street. IMHO someone at the top of the firm sacked Acampora. The statement from the company is bullflop. I probably would think twice about working for or with Prudential given this type of treatment of an industry veteran - unless we hear something that validates the poor treatment.