Jim Paulsen, the former chief investment strategist with the huge asset management group of Wells Fargo, has joined investment-research boutique Leuthold Group in the same capacity.
Paulsen, 59, wrapped up a 20-year career in May at Wells Capital Management, which manages assets in excess of $300 billion. He said he looks forward to working for a smaller, independent shop.
A plain-talk economist from a small town in Iowa, Paulsen earned a doctorate in economics from Iowa State University. He developed a national following with his monthly economic-and-markets commentary, and regular appearances on business-cable channels CNBC and Bloomberg Television.
Near the bottom of the Great Recession in 2009, Paulsen went cautiously bullish on the stock market, amid skepticism, and helped investors to profits as the market soared to record levels.
Paulsen saw federal intervention to bolster the financial system and a low-interest money policy by the Federal Reserve as confidence builders early in the slow recovery of the U.S. economy that continues.
Paulsen, who works from Minneapolis, said he’s looking forward to less travel and more thinking and writing.
“Joining Leuthold allows me to work with people I have admired for years, allows me to work at the corporate headquarters, allows me to travel less and continue to do what I do,” Paulsen said. “I am not ready for retirement. I still enjoy much of what I do.”
Paulsen is reunited with employee-owned Leuthold’s chief investment officer, Doug Ramsey, who worked with Paulsen in the 1980s in Iowa.
“We’ve known Jim for many years as a crosstown rival and friend, and we can’t think of any better place for him to take up his pen than Leuthold Group,” Ramsey said.
Before serving with Wells Capital in Minneapolis, Paulsen was senior managing director and chief investment strategist for Investors Management Group in Des Moines, and president of SCI Capital Management in Cedar Rapids, Iowa.
Leuthold Group was founded in 1981 by industry veteran Steve Leuthold, who retired years ago.