150x178david-zion-3.jpg

David Zion

David Zion Credit Suisse

SECOND TEAM

Christopher Senyek ISI

THIRD TEAM

Janet Pegg Unaffiliated

RUNNERS-UP

David Bianco UBS

After five years in second place, David Zion of ­Credit ­Suisse captures his first No. 1 finish. “David is a beacon of accounting insight,” declares one ­money man­ager. In November and June, Zion published reports on Financial Accounting Standard No. 157, the Financial Accounting Standards Board’s new rule — it took effect in the first quarter — that requires companies to use observable market inputs when they ­value assets. The ­credit crisis has rendered the rule controversial because some critics contend it has prompted companies to write off bigger losses on illiquid securities than they might have actually sustained. Zion explained that FAS 157 not ­only requires a com­pany to present a more accurate view of its current financial situation but ­also lends insight ­into the reliability of asset values. Zion, 39, earned a bachelor’s degree in accounting from New York’s Binghamton University in 1991 and worked at accounting firm Deloitte Touche Tohmatsu and then at Bear, Stearns & Co. before joining ­Credit ­Suisse in 2002. Rising from ­runner-up to second place is Christopher Senyek, who moved from Bear Stearns to ISI Group in May. “His ‘10-K Navigation Guide’ is a must,” insists one port­folio man­ager, referring to Senyek’s ­yearly study identifying key issues in annual reports. Among the highlights this year: Senyek ­noted that the market often ­doesn’t give companies credit for net-­operating-­loss carry­forwards, which can be valuable assets if a com­pany returns to profitability. Falling from first place to third is former Bear Stearns analyst Janet Pegg, who “does the best work on simplifying a relevant topic and explaining its implications,” says one longtime supporter. Before taking the summer off to “relax, recharge and start focusing on the next step in my life,” Pegg spent time updating clients about the status of the convergence of generally accepted accounting principles with international financial reporting standards and the differences between the two.

Return to The Best Analysts of the Year

Return to Rankings