Financial reporter for CNBC was influential in stock market
Financial journalist Dan Dorfman, known for moving stock prices in the 1990s with his comments on CNBC, died Saturday in New York of cardiogenic shock, a heart condition. He was 82.
Dorfman’s influential market comments on the cable financial news channel could propel and sink stocks. He worked at CNBC until 1996, when he suffered a stroke. That same year, he was fired as a Money magazine columnist over an ethics controversy involving a stock promoter, but he was never charged by regulators.
The controversy stemmed from Dorfman’s refusal to tell his editor at the magazine who his confidential sources were amid reports that authorities were investigating his relationship with stock promoter Donald Kessler. Kessler later pleaded guilty to two counts of securities fraud and one count of tax evasion.
With a print and TV career that spanned decades, Dorfman also penned the “Heard on the Street” column in the Wall Street Journal, reported for CNN and wrote for USA Today, New York magazine and Esquire.
Dorfman turned to the Internet late in his career, first with a stock research company, JagNotes.com, in 1999. He blogged for the Huffington Post until last year.
The native New Yorker is survived by his wife, Harriet.