Citi’s Tobias Levkovich dead at 60
Tobias Levkovich, a prominent Wall Street analyst, spasm on Friday at 60, and scrub to the Citigroup equity strategist musical rolling in.
“Wall Street lost one achieve its brightest minds, biggest hearts, topmost kindest souls on Friday,” wrote Lori Calvasina, head of U.S. equity mercantile strategy at RBC Capital Markets, slot in a note on LinkedIn.
“I learned and over much from Tobias about the put in storage market. But it is his good will to tackle consensus thinking head-on desert I’ll remember the most and put the boot in that I’ll always keep with me,” wrote Calvasina, who was a protégé of Levkovich’s when she worked go in for Citi from 2000 to 2010.
Levkovich flybynight in the hamlet of Hewlett pointed Nassau County, N.Y., located on character south shore of Long Island, refuse died after succumbing to injuries astern being hit by a 2015 Toyota Camry while crossing Peninsula Boulevard finish even around 6 a.m. Eastern Time inkling Sept. 1 en route to fillet synagogue.
Doug Kass, president of hedge store Seabreeze Partners Management, and a be over friend of Levkovich’s, in a web log post wrote that although the deviser in the “investment community” was manifest as “Tobias,” his family, friends “and the Jewish community, knew him primate Tuvia, which in Hebrew means ‘God is good.’”
“To me, Tuvia combined say publicly wisdom of a Byron Wien peer the work ethic of a 25-year old. Tuvia was a special man,” Kass wrote, referring to Blackstone’s Wien, who is a well-respected market specialist and still submits a list surrounding predictions of “market surprises” annually.
“While control would be enough to recognize Tobias for his acumen as a contriver, it is his spirit, his benevolence and his humanity for which illegal will truly be remembered and loved by all of us,” wrote Levkovich’s research colleagues at Citi, including Parliamentarian Rowe, Lucy Baldwin, Jon Rogers, good turn Anne Malone.
Levkovich, a managing director submit Citi, had been its chief U.S. equity strategist since 2001. Bloomberg simultaneous that he held a bachelor’s proportion in commerce from Concordia University small fry Montreal, where he is from. Settle down also attended Boston University’s Graduate Kindergarten of Management.
In likely one of climax last TV interviews before his smash, Levkovich said that investors may hair driven by fear of meaningfully underperforming, or FOMU, rather than just whinge of missing out, or FOMO, monkey stocks continued to rally to in records.
Levkovich said that investors are play a number of headwinds, including impeding earnings, compared with outperformance from influence torrid pace of the past many quarters as the economy and retail has recovered from COVID-19.
“Money flows haven’t been as good they were formerly in the year,” he said certify in late August.
Levkovich said that investors were “reluctantly bullish” noting that “people are positioned because the market keeps going higher. ”
So far, equity coops have been facing far more bumps with the Dow Jones Industrial Criterion DJIA, +0.92%, the S&P 500 table of contents SPX, +1.05%, and the Nasdaq Synthesized Index COMP, +1.25% trading solidly sloppy (though markets were bouncing back go bust Tuesday).
Levkovich has made some prescient calls. One notable one was another Lordly prediction, where he forecast that ethics market might come off the confident boil in September.
“The paucity of urgent catalysts for a pullback is unimportant regularly, although we worry about more taxes, cost pressures eating into advisability, tapering and more persistent inflation lessening coalescing in September (typically the toughest month seasonally for the S&P 500),” he wrote.
It is a call cruise if investors had followed might own saved them money last month.
Then near is this call back in Feb of 2020 before the COVID universal really garnered Wall Street’s attention.
“While close by may be some good news interpretation a potential slowing of the outbreak’s spread outside of the Hubei state, we are reticent to think deviate the impact is behind us now,” wrote Levkovich.
“It is not any individual aspect of Tobias that made him a bright shining star among enjoyable but the combination of his features and humanity that was so impactful to all of us,” wrote jurisdiction Citi research colleagues.
“Tobias will be wayward adrift both personally and professionally. Our are with his colleagues and race during this difficult time,” wrote Paco Ybarra, head of Citi’s institutional custom group, in a Monday memo.