Huge Crypto Bet Draws Heat for Bank Stock Fund
Morningstar scolded Emerald Advisers for wagering heavily on Bitcoin and Ethereum in its portfolio even though it has paid off handsomely.
How’s this for finance?
Photographer: Chris McGrath/Getty Images
Ken Mertz doesn’t fit the profile of a “Technoking.”
Mertz is the president and chief investment officer of Emerald Advisers, a $4.7 billion asset manager based in Leola, Pennsylvania, a community of about 7,500 situated 66 miles west of Philadelphia. The company prides itself on its “proprietary 10-step research process” and “fundamental approach to choosing securities.” Mertz is a CFA charterholder who was the chief investment officer of the Pennsylvania State Employees’ Retirement System for seven years before joining Emerald. He’s held a variety of board positions. His resume all points to a traditional, longtime investor at a modest-sized firm.