Gail Dudack Of S.G. Warburg by Thom Hartle
S.G. Warburg senior vice president, head of market strategy and technical analyst Gail Dudack, C.M.T.,
is no newcomer to technical analysis or the world of Wall Street; she began her career at Pershing & Co.
(now a division of Donaldson, Lufkin & Jenrette) in the early 1970s, eventually writing a weekly market
strategy letter for Pershing before she joined international brokerage firm Warburg in 1987, where she
writes both weekly and monthly strategy letters. In the meantime, she has served, among other capacities,
on the Market Technicians Association board of governors and two terms as the MTA's president, and
until recently was also on the board of directors for the New York Society of Security Analysts. She can
also be seen as a regular panelist on the popular Wall Street Week television show. Dudack spoke with
STOCKS &COMMODITIES Editor Thom Hartle via a telephone interview on December 27,1991, about,
among other topics, the global markets, the indicators she uses, the use of flow of funds and general
So I understand you started in the business as a fundamental analyst.
Well, I started as a fundamental analyst's assistant at Pershing &Co. back in the early 1970s in what was
considered the training slot to become a junior analyst and eventually a full-fledged analyst, but while I
was there I started studying technical analysis at night at the New York Institute of Finance and
developed an interest in that "other" kind of analysis. About six to 12 months after I started at Pershing,
our technician, who I think was called a "statistician" in those days, left, and I asked for the job. Not that
got it directly, but since I was the only person who knew how to update those charts, I was allowed—
allowed! — to update his charts after work. So I kept his charts up — a beautiful combination of breadth
and market indices charts, which I still have today — for about six months and was eventually given an
opportunity to be a technician.