Joseph Greff |
First TeamJoseph Greff Bear Stearns Second Team Harry Curtis, JPMorgan Third Team Steven Kent, Goldman Sachs Runners-Up Robin Farley, UBS; William Lerner, Deutsche; Celeste Mellet Brown, Morgan Stanley |
Joseph Greff of Bear Stearns, who holds on to the top spot for a second year, provides “top-notch models and good stock picking,” says one satisfied client. Greff, 37, picked a winner in Penn National Gaming, a Wyomissing, Pennsylvania–based operator of riverboat casinos and off-track-betting facilities. He urged investors to buy in February, at $46.23, on rising revenues, and in April identified the company as a likely acquisition target. In June private equity firm Fortress Investment Group agreed to buy Penn National for $67.00 a share in a cash transaction, awarding investors that followed Greff’s advice a gain of 44.9 percent in four months. JPMorgan Securities’ Harry Curtis rises one notch to second and is valued for his “deep network of relationships in the industry,” says one money manager. In August 2006, Curtis recommended Las Vegas–based casino operators Wynn Resorts, at $57.77, and MGM Mirage, at $35.31, on strong growth prospects and expansion into the sizzling Macao gambling market. Through mid-September 2007 the stocks were up 142.1 and 135.8 percent, respectively, while the sector gained 35.6 percent. In third place is Steven Kent at Goldman Sachs, who impresses investors with his skill at “getting management in front of people,” as one client puts it. Last October, Kent downgraded the hotel sector to hold, saying several years of overbuilding had left supply outstripping demand. But he remained positive on Washington, D.C.–based Marriott International and Parsippany, New Jersey–based Wyndham Worldwide Corp., which he thought would continue to enjoy high occupancy rates. Through mid-September the stocks were up 10.7 and 9.2 percent, respectively. |
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Consumer: Gaming and Lodging - 2007
