Allan Edwards Resigns

Allan Edwards. From May 16, 2010 to August 9, 2011

NEW YORK - Allan Edwards the former CEO of The Markets Are Open abruptly resigned yesterday. The cause of his resignation is not yet known. Edwards will be remembered by Andyraw Kibbens and Josh Schwartz. But Edwards hinted that he is restarting his old Hedge Fund Osiris and that this market is the best he has ever seen for money making.

Edwards who has managed The Markets Are Open stock portfolio has seen disappointing results in the last several months as stocks have been hammered. Edwards finished 5% better relative to the market in the long portfolio. An increase of 5% compared to a decrease in the S&P 500 of 1.5% as of yesterday. The short portfolio finished 25% up and 23% better than the market.

Josh Schwartz has now taken over as CEO and stock picker of the company. All the additions yesterday were of his choosing.

Edwards will remain with the firm as an advisor.

Edwards finished "thank you to everyone who has read my articles over the last year. I will miss you all."

Josh Schwartz added "its so sad to see him go, he was my mentor. In a way he was a part of me and hopefully I will also remain a part of him. His opinions shaped my own for valuing securities. There is no better man than Allan Edwards.

Andyraw Kibbens added "well you just can't replace an Allan Edwards, but we will try."