| Bounding all the way from runner-up to No. 1, Deutsche Bank Securities’ Joshua Shanker “is the extremely rare combination of experience plus good judgment,” says one portfolio manager. “He does a great job seeing an idea before the rest of the Street,” adds another. The 38-year-old upgraded Allstate Corp. from hold to buy in December, at $26.45, primarily on valuation. Shares of the Northbrook, Illinois–based provider of auto and homeowner policies had raced to $37.28 by the end of August, for a 40.9 percent advance that sped past the sector by 22.3 percentage points. Other backers favor Shanker’s buy on American International Group, which he has been recommending since June 2011, most recently because of its plans to sell underperforming assets to repurchase shares. The New York–based property/casualty insurer’s stock jumped 35.5 percent in the 12 months through August. “You need Joshua Shanker to help you sail through choppy waters,” observes one advocate. The analyst, who covers 21 stocks, joined Deutsche from Citi in 2009. He holds an MBA from New York’s Columbia Business School. |
Financial Institutions – Insurance/Nonlife: 2012 First
Bounding all the way from runner-up to No. 1, Deutsche Bank Securities’ Joshua Shanker “is the extremely rare combination of experience plus good judgment,” says one portfolio manager.
October 16, 2012
