Consumer: Gaming & Lodging - 2008
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Consumer: Gaming & Lodging - 2008

In the top spot for a third consecutive year is Joseph Greff, who, according to one ­money manager, “has conviction and communicates it clearly.”




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Joseph Greff


Joseph Greff ­JPMorgan


SECOND TEAM


Celeste Mellet Brown Morgan Stanley


THIRD TEAM


Steven Kent Goldman Sachs


RUNNERS-UP


Robin Farley UBS ; William Lerner Deutsche


In the top spot for a third consecutive year is Joseph Greff, who, according to one ­money manager, “has conviction and communicates it clearly.” Greff, 38, joined ­JPMorgan Securities in June, when it absorbed Bear, Stearns & Co., and among his first calls was a recommendation to sell Las Vegas Sands Corp., at $50.19, on concerns about earnings at the Nevada-­based casino operator’s holdings in the U.S. and China. The stock had plunged 24.9 percent, to $37.71, from the downgrade through mid-­September. During the same period the sector gained 6.0 percent. Also in June, Greff down­graded MGM Mirage to neutral, at $38.90, following a disappointing second-­quarter earnings report. By mid-­September shares of the Las ­Vegas–based resort operator had fallen to $31.72. “His downgrade hit that stock right at the top,” marvels one investor. Celeste Mellet Brown of Morgan Stanley leaps from ­runner-up to second place. Clients hail her as much for her deep understanding of fundamentals as for the speed of her calls. Brown downgraded Scientific Games Corp., a New York–based lottery ticket manufacturer, to underweight in January, at $28.15, ­citing increased competition. Two weeks later, after the stock had fallen 26.8 percent, to $20.61, she upgraded it to equal weight, on valuation. In mid-­September the share price was back up to $26.72. “She’s been all over that stock,” cheers one backer. Repeating at No. 3 is ­Steven Kent, who “really explains the gaming industry,” says one buy-side fan. In January the Goldman, Sachs & Co. analyst reiterated his sell rating on Shuffle Master, on declining demand. Shares of the Las ­Vegas–based gaming equipment manufacturer had plunged 52.3 percent by mid-­September.


Return to The Best Analysts of the Year


Return to Rankings


Related

Repeating in first place is Colin McGranahan of Sanford C. Bernstein & Co., dubbed by one portfolio manager as “the go-to man if you want to know the numerical impact of an issue.”
The “finest consumer analyst on the Street” is how one port­folio manager describes David Adelman of Morgan Stanley, who tops the sector for a sixth year in a row.
Clients say Brian Tunick, who captures the crown for a third consecutive year, provides a “fresh and realistic take on ­what’s going on,” says one invesor.
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