Ken Heebner Endorses Goldman Sachs and Morgan Stanley (CGMFX, GS, MS)

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By Douglas A. McIntyre Updated Published

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Ken Heebner of CGM Funds is often a guest on CNBC after the FOMC decision on rates.  His sphere of great influence has withered as the CGM Focus Fund (CGMFX) has been hammered.  Last year the fund’s price was briefly at $60.00 and now the fund is around $24.00.  But Heebner is still followed by many traders and investors and he did give two stocks he likes.  He said Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) would be the beneficiaries of the consolidation of brokerage firms.

These two firms are no longer TARP firms, so they are able to pay what they want and what they feel they should to recruit talent as it comes available.  Unfortunately, there were no great revelations here today.

Jon C. Ogg

Contact [email protected] for any questions or corrections.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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