Henry Blodget

Does Henry Blodget Have An Enemy On JP Morgan’s Trading Floor?

HenryBlodgetIsNotWelcomeAtJPMorgan.jpgA last minute change in a software industry group’s meeting has raised questions about whether famed and infamous tech stock analyst and Silicon Alley Insider founder Henry Blodget may have a highly placed enemy among the traders at JP Morgan.
Shortly after noon today, the New York Software Industry Association changed the location of its monthly meeting from JP Morgan’s headquarters at 270 Park Avenue to 277 Park Avenue, a building that is also occupied by JP Morgan and is directly across the street. An email from the NYSIA said the meeting was being moved “due to a flood at the JPMorgan HQ at 270 Park.” But a JP Morgan spokesperson denies that there has been a flood at the building. Others at JP Morgan also said that they hadn’t heard anything about a flood.
So if the flood hadn’t occurred, why was the meeting being moved? JP Morgan Chase didn’t offer any further comment on the subject, and NYSIA did not immediately return our call. But some of the emails recipients have begun to speculate that the meeting may have been moved because Blodget, who was accused of securities fraud in connection with his stock recommendations in the 1990s and was scheduled to speak at the monthly meeting, could be persona non grata at 270 Park Avenue.
“I’d wonder if maybe some high-up didn’t want Blodget around,” a person familiar with the situation told DealBreaker.
The meeting has been moved from one JP Morgan office to another, which might imply that it is a very particular group or person within JP Morgan who has declared the premises off-limits to Blodget. Although a variety of units within JP Morgan Chase are scattered throughout it’s various Park Avenue offices, the 270 Park is home to a large number of its traders while 277 Park is home to many investment bankers. So does some high level trader have a problem with Henry Blodget?
Our research couldn’t produce a credible account of who might be feuding to Blodget or why. Many in the securities industry, however, still resent what they see at Blodget’s role in besmirching their business. Blodget’s first book, The Wall Street Self-Defense Manual, did not paint Wall Street in a particularly flattering hue.
Neither Henry Blodget nor JP Morgan Chase could be reached for comment on this important question irresponsible speculation.

  • 23 Mar 2007 at 1:07 PM
  • CNBC

Henry Blodget Thinks Cramer Is A Fish In Barrell, Takes His Shot

cramerissuicidal.jpgIt’s time for a change of pace. You really didn’t think we were just going to blog about Blackstone all day long, did you?
Of course not. There’s always more in “What’s Happening In Jim Cramer” to write about. And, of course, we find it irresistible when another DealBreaker favorite, Henry Blodget, and Cramer find themselves in the same room. Or chat room. Or, you know, those two names appear on the same webpage.
(You can read more about Blodget vs. Cramer here.)
In his “How to lose your money fast” column on Slate, Blodget writes that Cramer may not be able to Boo-yah his way out of the mess created by his comments on the now infamous theStreet.com video. Blodget thinks the charges against Cramer are more serious than some think. In fact, Cramer’s remarks may amount to “professional suicide” according to the Blodge, who knows what he’s talking about when it comes to suicide. The floppy-haired writer made his living as an analyst before being barred from the securities industry for life as part of a settlement with the SEC.
“Can CNBC really say nothing when one of its most visible employees urges investors to use the network to engage in behavior that is questionable to say the least?” Blodget writes.
We’re not going to say anything about this whole “can CNBC really say nothing” question because they totally gave us a tiny red bull doll and a Cramer DVD after we went on the show last week. And champagne! And a trip to beautiful Englewood Cliffs! )
Okay, we’ll say just one word: Maria.
Meanwhile, DealBook points out that Cramer’s remarks probably haven’t won him many friends. “For those already predisposed to believe that hedge funds engage in shady practices, the interview seemed to confirm their worst suspicions. For many in the hedge fund business, Mr. Cramer seemed to smear an entire industry unfairly,” DealBook says.
Cramer vs. Cramer [Slate.com]
Did Jim Cramer Cross the Line? [DealBook]