(Reuters) Michael Metz, Oppenheimer & Co's highly regarded chief investment strategist and a five-decade Wall Street veteran, died late Wednesday at the age of 79, the company said on Thursday.
Metz had been battling cancer, according to a close friend, Steve Stern.
Metz, who joined Oppenheimer in 1969, was one of the rare voices on Wall Street warning about many major bubbles. He recommended to clients earlier this year that stocks were headed for a dramatic fall -- shortly afterwards he was proved right as the major indexes entered a bear market.
Metz was one of the first analysts to raise red flags about the dangers of the deteriorating housing and credit markets. He based that call on the stock market on the belief the U.S. economy would be in recession "all through 2008 and 2009."
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