On Friday we noted that Simmons and Company had upgraded BP to a buy, making the fact that its namesake, Matt Simmons, had been going around talking about nukes and BP not lasting through the summer slightly awkward. Also a tad uncomfortable was the fact that the company wrote its investors telling them to “disavow” any words that come out of Matt Simmons’ mouth. Well guess what, former pals? Simmons doesn’t need you– he doesn’t need any of you! Which is why he announced today he’s taking his insights and leaving, with a resignation effective June 30 (lotta stuff to clean out of the office, couldn’t be done in one day).
Matt Simmons
Simmons And Company: Buy BP And Ignore Everything Matthew Simmons Has Been Saying Recently
By Bess LevinFrom the mailbag (of unfounded rumors):
“Matthew Simmons was on Bloomberg several days ago talking about nuking the BP wellhead to stop the leak, then was on the tape saying BP wouldn’t last through the summer. I’m now hearing that Simmons and Co. is putting a buy rec on BP. Also hearing also that Simmons and Co. sent out a letter to investors asking them to disavow anything Mr. Simmons has said recently.”