Andrew Steinerman J.P. Morgan The buy side says: “Andrew knows his companies very well.”
J.P. Morgan’s Andrew Steinerman rules the roost for a seventh consecutive year — and for the ninth time in 12 years. Steinerman, 43, “painstakingly digs through every 10-K and 10-Q for any extra nugget of information,” according to one buy-side supporter. Adds another: “I give him high marks for his responsiveness.” Noting a decline in loan defaults and rising completion rates for its students, Steinerman pounded the table on Apollo Group in January — he had been recommending the stock since initiating coverage with an overweight rating in July 2008 — when the shares dipped to $35.94 on fears of increased government scrutiny. (The previous August the U.S. Government Accountability Office had published findings of an undercover investigation into the Phoenix-based for-profit adult education provider’s recruitment and enrollment practices, and the Higher Learning Commission followed up with a request for evidence of compliance with accreditation standards.) The stock rallied to $53.86 in July before dropping to $46.83 by the end of August, for a 30.3 percent gain since Steinerman’s reiteration that outperformed the sector’s advance by 36.7 percentage points. “Andrew’s long history in the group gives him a context that’s far superior to his peers’,”