SECOND TEAM

Benjamin Swinburne  Morgan Stanley

We combined Entertainment with Publishing & Advertising Agencies to create this new sector. Benjamin Swinburne takes the No. 2 position, as he did last year in Entertainment; the Morgan Stanley analyst is also ranked second in Cable & Satellite. Swinburne “does a great job of detailed modeling, which helps investors understand where profits are coming from,” explains one buy-side advocate. Adds another: “He bases his forecasts and stock picks on where the industry is moving to and not just where it has been.” Case in point: Swinburne began recommending CBS Corp. in July 2009, when the stock was at $6.57, as the New York–based network began to wean itself from dependence on advertising revenue and focus on a more diversified revenue stream, including subscriber fees from cable, satellite and telecommunications. In April 2010, after the stock had skyrocketed an eye-popping 116.7 percent, to $14.24, he pounded the table, convinced that CBS could keep the momentum going. By the end of August 2011, the shares had bolted 75.9 percent higher, to $25.05 — for a stunning 281.3 percent life-of-call advance that pummeled the sector by 212.7 percentage points.