Henry Blodget, the 36-year-old analyst who managed to out-ra even the most ra-ra of internet boosters, is facing his reckoning. He left Merrill Lynch in late 2001, saying he wanted to work on a book on his experiences. The bad news is that the US securities regulators intend to make an example of Blodget, who was made one major mistake: quotable disdain for companies he promoted externally. The good news is that the NASD is doing all the background research, and Blodget ought to be able to reuse the material in his book. By the way, TheStreet.com should update its profiles. On a page that hasn't been updated since 2000, Blodget is listed as the top-ranked internet analyst. His recommendation: AOL.
Wall Street Star May Face Suit by Regulators [NYT]
Report Card [TheStreet.com]