Prudential shutters TA dept and......

marketsurfer · Oct 5, 2005

Prudential Fires Acampora, Shuts Technical Analysis Department
2005-10-04 14:26 (New York)

By Daniel Hauck
Oct. 4 (Bloomberg) -- Prudential Equity Group LLC fired its
chief technical strategist, Ralph Acampora, as the firm shut its
technical analysis department to cut costs.
``As of today, we no longer have a technical research
department,'' Prudential spokesman Jim Gorman said in a phone
interview.
Acampora had served as director of technical research at
Prudential since 1990. From 1980 to 1990, he was director of
technical research at Kidder Peabody & Co. He was voted a
runner-up among technical analysts in Institutional Investor's
2004 survey.
The firing was first reported by Dow Jones Newswires.

--With reporting by John Melloy in New York. Editors: Melloy.

prt_systems · Oct 5, 2005

Quote from marketsurfer:

Prudential Fires Acampora, Shuts Technical Analysis Department
2005-10-04 14:26 (New York)

By Daniel Hauck
Oct. 4 (Bloomberg) -- Prudential Equity Group LLC fired its
chief technical strategist, Ralph Acampora, as the firm shut its
technical analysis department to cut costs.
``As of today, we no longer have a technical research
department,'' Prudential spokesman Jim Gorman said in a phone
interview.
Acampora had served as director of technical research at
Prudential since 1990. From 1980 to 1990, he was director of
technical research at Kidder Peabody & Co. He was voted a
runner-up among technical analysts in Institutional Investor's
2004 survey.
The firing was first reported by Dow Jones Newswires.

--With reporting by John Melloy in New York. Editors: Melloy.

... another group replaced by computers.......

areyoukidding? · Oct 5, 2005

ralph was a good man.

FXsKaLpEr · Oct 5, 2005

did they need a technical research department...?

Surdo · Oct 5, 2005

Ralph is one of the last few talking heads worth listening to.
His TA class is well worth taking for newbies.

tomcole · Oct 5, 2005

So much for the argument that being on CNBC was job enhancing

Covertibility · Oct 5, 2005

Chart readers..lol... do they have stargazers too? Voodoo priests?

prt_systems · Oct 5, 2005

Quote from marketsurfer:

....
Oct. 4 (Bloomberg) -- Prudential Equity Group LLC fired its
chief technical strategist, Ralph Acampora, as the firm shut its
technical analysis department to cut costs.
``As of today, we no longer have a technical research
department,'' Prudential spokesman Jim Gorman said in a phone
interview.
....

... and that is an extremely poor statement from any company that parts way with a managing director and especially someone with such a long record on the street.

IMHO someone at the top of the firm sacked Acampora. The statement from the company is bullflop.

I probably would think twice about working for or with Prudential given this type of treatment of an industry veteran - unless we hear something that validates the poor treatment.

nononsense · Oct 5, 2005

Quote from marketsurfer:

Prudential Fires Acampora, Shuts Technical Analysis Department
2005-10-04 14:26 (New York)

...

Is that the place where they have them 'quants' fool around with C++?

gnome · Oct 5, 2005

Fascinating... how brokerage houses view TA departments as "least valuable and 1st to go."