Ex-Levy Forecast Chief, Hedge Fund Manager Dies

Oct 9 2012 | 10:35am ET

Economics prognosticator and former hedge fund manager Jay Levy has died at the age of 90.

Levy was best known as the publisher of the Levy Forecast, the 63-year-old economic analysis newsletter founded by his father, Jerome, and now run by his son, David. But he and his son also dabbled in hedge funds, launching their Levy Forecast Fund in 2004.

David Levy said the move came due to their conviction that the next recession would push interest rates to near zero. Their "being extremely confident" paid off, and the Levy fund returned some 500% to investors over its five-year lifespan.

Levy also made news by predicting the housing crisis, writing in 2005 that "the next recession will be caused by the deflating housing bubble." But unlike with the dot-com bust, "this time… the financial sector will be much more exposed."

Levy, whose first name was S, died on Oct. 4 in Mount Kisco, N.Y., of pneumonia. He had been ailing for several years and had suffered a series of mini-strokes. The New York City native lost his wife of 63 years, Barbara, in March, and is survived by his children Ann and Joshua, in addition to David.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.