Where's Garzarelli Going?

In a cost-cutting move, Lehman Bros. ousts its most celebrated investment analyst

What a to-do over a guru. in recent weeks Institutional Investor magazine rated Elaine Garzarelli the top stock picker in her field for the 11th year in a row. But no sooner had the magazine hit the stands than Garzarelli abruptly became the most famous person to join the ranks of Wall Street's unemployed. With investment firms contracting -- 2,000 layoffs have been reported so far this year, and an additional 8,000 could follow in the next 12 months -- Garzarelli's bosses at Lehman Bros. announced last Tuesday that they could no longer afford her nearly $2 million salary and her...

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