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Michael Nathanson | Michael Nathanson Sanford C. Bernstein SECOND TEAM Jessica Reif Cohen Merrill Lynch THIRD TEAM Anthony DiClemente Barclays RUNNERS-UP Douglas Mitchelson Deutsche ; Spencer Wang JPMorgan |
Portfolio managers say Michael Nathanson of Sanford C. Bernstein & Co., who captures the top spot for a third year running, was the “first to figure out that advertising was a train wreck” and “the first to downgrade the overowned and overloved News Corp.” Nathanson, 45, who is also No. 2 in Radio & TV Broadcasting, advised clients to sell their shares of the New York–based media conglomerate in April, at $18.81, citing rising costs. By mid-September the stock price had tumbled to $14.13, a loss of 24.9 percent that underperformed the sector by 16.0 percentage points. Rising one rung to second place, Jessica Reif Cohen of Merrill Lynch provides “strong, accurate fundamental research,” according to one investor. Cohen downgraded Viacom to underperform in June, at $35.65, citing weak advertising sales. By mid-September shares of the New York–based motion picture production company had slipped 24.2 percent, to $27.04. Anthony DiClemente, who moved to Barclays Capital after its parent acquired Lehman Brothers last month, debuts in third place. DiClemente, who also ranks first in Radio & TV Broadcasting, produces research that is “differentiated and insightful,” declares one client. The analyst downgraded Time Warner, the New York–based entertainment behemoth, to neutral in July, at $14.43, on concerns about the company’s spin-off of its Time Warner Cable subsidiary, which is expected to be completed in the fourth quarter. In mid-September the stock price had moved little, trading at $14.57.
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