NEW YORK--(BUSINESS
WIRE)--With great sadness, Zweig-DiMenna Associates LLC announced
the passing of Martin (“Marty”) E. Zweig earlier
today.
Born in 1942 in
Cleveland, Ohio, Zweig was a legendary investor, prolific writer
and iconic teacher. Having begun trading stocks as a teenager,
Marty began his more formal career in the 1970s writing investment
newsletters while he was a Professor of Finance. One of the most
highly regarded investment newsletters in the
country,
The Zweig Forecast was
published for twenty-six years, from 1971-1997. Zweig’s investment
picks regularly outperformed the market. The Zweig Forecast ranked
number one for risk-adjusted returns during the 15 years it was
monitored by Hulbert Financial Digest. Zweig is credited with
original and important statistical market research, including the
creation of the put/call ratio, a technical measure of investor
sentiment that is now a common market indicator. Zweig’s creation
of the put/call ratio was part of his ground breaking research for
his Ph.D. in Finance. Zweig was also a frequent contributor to
business magazines, including Barron’s.
Throughout the 1980s,
Zweig was a regular guest on PBS’s Wall $treet Week with Louis
Rukeyser. During one such appearance in 1987, Zweig famously and
accurately forecasted the October 1987 stock market crash. In 1992,
he was voted into Wall $treet Week’s Hall of Fame. He authored two
books on the financial markets, the best-selling “Winning on Wall
Street,” (1986) and “Winning with New IRAs,”
(1987).
In 1984, he and Joe
DiMenna founded Zweig-DiMenna Partners, their first of several
long/short hedge funds. Zweig-DiMenna Partners is one of the
longest-running and most successful of the flexible long/short
hedge funds. Zweig also created two closed-end funds traded on the
New York Stock Exchange, featuring his investment philosophy - The
Zweig Fund in 1986 and The Zweig Total Return Fund in
1988.
Said Joe DiMenna, “Marty
became a mentor and close friend shortly after he hired me in 1977
while I was still in college. I had long read his investment
newsletters, told him so in a letter, and soon afterwards found
myself working with him side by side. He was a wonderful, kind and
generous person and I will always be grateful for the opportunity
to have been his friend and partner. Marty was one of a kind. He
will be missed. On behalf of all the people at our firm, my deepest
sympathies and condolences go out to his wife Barbara and his sons
Zack and Alex.”
Martin Zweig graduated
with a B.A. in Economics from The Wharton School of the University
of Pennsylvania in 1964. He later received an M.B.A. from the
University of Miami and a Ph.D. in Finance from Michigan State
University. Martin Zweig was a member of the Undergraduate
Executive Board of The Wharton School and active in a number of
charities.
Zweig was an avid art
and memorabilia collector. He was also an ardent salsa dancer,
poker player, runner and student of baseball
statistics.
He is survived by his
wife Barbara and sons Zack and Alex.
There will be a
celebration of his life with details to be
announced.
Donations can be made to
the Zweig Family Center for Living Donation at Mount Sinai Hospital
in New York City or the American Cancer
Society.
Contacts
Sard Verbinnen &
Co
Cassandra Bujarski/Delia
Cannan
212-687-8080