Wall Street mourns one of stock market’s ‘brightest minds, biggest hearts’ after car accident

“I learned truthful overmuch from Tobias astir the banal market. But it is his willingness to tackle statement reasoning head-on that I’ll retrieve the astir and anticipation that I’ll ever support with me,” wrote Calvasina, who was a protégé of Levkovich’s erstwhile she worked astatine Citi from 2000 to 2010.

Levkovich lived successful the hamlet of Hewlett successful Nassau County, N.Y., located connected the southbound enactment of Long Island, and died aft succumbing to injuries aft being hit by a 2015 Toyota Camry portion crossing Peninsula Boulevard astatine astir 6 a.m. Eastern Time connected Sept. 1 en way to his synagogue.

Doug Kass, president of hedge money Seabreeze Partners Management, and a adjacent person of Levkovich’s, successful a blog station wrote that though the strategist successful the “investment community” was known arsenic “Tobias,” his family, friends “and the Jewish community, knew him as Tuvia, which successful Hebrew means ‘God is good.'”

“To me, Tuvia combined the wisdom of a Byron Wien with the enactment ethic of a 25-year old. Tuvia was a peculiar man,” Kass wrote, referring to Blackstone’s Wien, who is simply a well-respected marketplace pundit and inactive submits a database of predictions of “market surprises” annually.

“While it would beryllium capable to recognize Tobias for his acumen arsenic a strategist, it is his spirit, his compassion and his humanity for which helium volition genuinely beryllium remembered and cherished by each of us,” wrote Levkovich’s probe colleagues astatine Citi, including Robert Rowe, Lucy Baldwin, Jon Rogers, and Anne Malone.

Levkovich, a managing manager astatine Citi, had been its main U.S. equity strategist since 2001. Bloomberg reported that helium held a bachelor’s grade successful commerce from Concordia University successful Montreal, wherever helium is from. He besides attended Boston University’s Graduate School of Management.

In apt 1 of his past TV interviews earlier his accident, Levkovich said that investors whitethorn beryllium driven by fearfulness of meaningfully underperforming, oregon FOMU, alternatively than conscionable fearfulness of missing out, oregon FOMO, arsenic stocks continued to rally to adjacent records.

Levkovich said that investors are facing a fig of headwinds, including slowing earnings, compared with outperformance from the torrid gait of the past respective quarters arsenic the system and marketplace has recovered from COVID-19.

“Money flows haven’t been arsenic bully they were earlier successful the year,” helium said backmost successful precocious August.

Levkovich said that investors were “reluctantly bullish” noting that “people are positioned due to the fact that the marketplace keeps going higher. ”

So far, equity markets person been facing acold much bumps with the Dow Jones Industrial Average DJIA, +1.40%, the S&P 500 scale SPX, +1.55%, and the Nasdaq Composite Index COMP, +1.73% trading solidly little (though markets were bouncing backmost connected Tuesday).

Levkovich has made immoderate prescient calls. One notable 1 was different August prediction, wherever helium forecast that the marketplace mightiness travel disconnected the bullish boil successful September.

“The paucity of contiguous catalysts for a pullback is cited regularly, though we interest astir higher taxes, outgo pressures eating into profitability, tapering and much persistent ostentation each coalescing successful September (typically the toughest period seasonally for the S&P 500),” helium wrote.

It is simply a telephone that if investors had followed mightiness person saved them wealth past month.

Then determination is this telephone backmost successful February of 2020 earlier the COVID pandemic truly garnered Wall Street’s attention.

“While determination whitethorn beryllium immoderate bully quality connected a imaginable slowing of the outbreak’s dispersed extracurricular of the Hubei province, we are reticent to deliberation that the interaction is down america now,” wrote Levkovich.

“It is not immoderate 1 facet of Tobias that made him a agleam shining prima among america but the operation of his tone and humanity that was truthful impactful to each of us,” wrote his Citi probe colleagues.  

“Tobias will beryllium missed some personally and professionally. Our thoughts are with his colleagues and household during this hard time,” wrote Paco Ybarra, caput of Citi’s organization clients group, successful a Monday memo.

––Barbara Kollmeyer and Steve Goldstein contributed to this article