Now that the hedge funds are hiring out Wall Street oil analysts at double their previous pay scale, we see more and more wild calls on oil prices on Wall Street. The best way to get a job with a hedge fund, is to be able to move markets with your calls.
Looks to me that some of these oil analysts are putting feelers out to the hedge funds for a job with their wild calls. Here's the Bloomberg article:
Morgan Stanley, Citi Lose Oil Analysts as Hedge Funds Hire
June 17 (Bloomberg) -- Wall Street is losing its top oil analysts as securities firms suffer record losses and hedge funds offer the promise of higher pay.
Morgan Stanley's Douglas Terreson and Citigroup Inc.'s Doug Leggate, ranked first and second by Institutional Investor on coverage of the biggest oil companies, left their positions, the banks said. Geoff Kieburtz, the No. 3 analyst for oilfield contractors, is leaving Citigroup. Robert Morris, the top-ranked analyst for independent oil companies such as Anadarko Petroleum Corp., left Bank of America earlier this year.