The Wall Street analyst who told hapless investors to buy shares in failed dotcoms has finally got the Spanish archer treatment from his employers, Merrill Lynch.
Henry Blodget, 35, had a pop star following among retail investors and for a time was known as the Elvis of the internet.
He made outrageous predictions that stocks such as Amazon would double in price to $400 per share. When he guessed right, he promptly moved from CIBC Oppenheimer to Merrill Lynch.
Amazon shares now stand around the $9 mark, having joined the '90 per cent' club - that is, shares trading more than 90 per cent less than at their peak.
Blodget also urged investors to buy into Pets.com and Etoys: both ventures have since gone to the wall.
Other Blodget recommendations, Ebay and Yahoo, are still trading well below the target prices he gave them.
The once aspiring journalist has accepted a $2m pay-off from his former employees and, following a growing trend among dotcom bombs, now plans to write a book about his part in inflating the internet bubble.
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