Jay Cohen
Bank of America
Merrill Lynch
After one year on top, Jay Cohen drops back to second place. The Bank of America Merrill Lynch researcher keeps close tabs on 29 companies and earns points for reiterating a buy on Ireland’s XL Group in February, at $19.17, after disappointing quarterly results sent shares down more than 8 percent in one day. (He had raised XL from neutral back in June 2009, dubbing the shares a bargain at $10.51.) By the end of August, the Dublin-based commercial reinsurer’s stock had rallied 20.6 percent, to $23.12 — for a stunning 120 percent life-of-call advance. “Jay knows how to add value by distinguishing between quarterly noise and the true earnings power of his companies,” marvels one client.