Prudential shutters TA dept and......

Discussion in 'Wall St. News' started by marketsurfer, Oct 5, 2005.

  1. 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
    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.
  2. ... another group replaced by computers.......
  3. ralph was a good man.
  4. did they need a technical research department...?
  5. Surdo


    Ralph is one of the last few talking heads worth listening to.
    His TA class is well worth taking for newbies.
  6. tomcole


    So much for the argument that being on CNBC was job enhancing
  7. Chart do they have stargazers too? Voodoo priests?
  8. ... 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.
  9. Is that the place where they have them 'quants' fool around with C++?

    :D :D :D
  10. Fascinating... how brokerage houses view TA departments as "least valuable and 1st to go."
    #10     Oct 5, 2005