Dinosaur Calls it a Day
The Wall Street Journal is reporting that veteran Goldman Sachs software analyst Rick Sherlund will be transitioning coverage to fellow Goldman analyst Sarah Friar ...and moving to a hedge fund if we had to venture a guess...after all everybody is doing it:
In an interview, Mr. Sherlund said he hopes to try his hand as an investor, though he plans to continue to work at Goldman as he considers jobs on what Wall Street calls the buy side.
”I’m really focused on managing money,” he said. “As an analyst it’s terrifically rewarding but you’re very narrowly focused. I’d like to focus more broadly and have the ability to make some real stock calls.”
Mr. Sherlund, 52 years old, is considering starting his own fund but said “most likely I’ll go work with someone else to gain some experience in the money-management side.”
Mr. Sherlund’s name will always be most closely associated with Microsoft, a company he started covering when it when public in 1986. Year after year, Mr. Sherlund doggedly studied the latest technologies and re-organizations as Microsoft moved from start-up to Grand Dame of software. Over the years, he also covered the many up-and-comers—from Netscape Communications to Google Inc.—that have pressured Microsoft and he has outlasted many of the managers that guided Microsoft, including a string of chief financial officers. (WSJ)
Sherlund, 52 years old, has been covering software for...get this..100 quarters…
With half of Wall Street turrets staffed by people who were still in diapers when Microsoft went public, Sherlund’s career as an analyst is notable.
Welcome to the buyside Rick...but fair warning...we will soon be trying to pick your pockets.
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