Mitchell Hutchins was acquired by Paine Webber. After a hiatus at another firm, Marty was hired by Paine Webber to fill a job that had originally been done by four people. He then moved to Salomon Brothers and later Morgan Stanley before joining Merrill Lynch. In the area of high yield bonds, Marty is working within his field to ensure better transparency in research. Our profession is coming under attack for conflict of interest.
Transparency wipes that out.
If you show your work and exactly how you got your results, it eliminates the conflict. Outside of his work at Merrill Lynch, Marty's career has taken some other interesting paths. He also wrote a second edition of Financial Statement Analysis and is collaborating on a third edition. His position as book review editor of the Financial Analysts Journal allows him to keep up with others areas of finance. There aren't many books coming out on high yield bonds, so I'm always reading about new areas.