Beryl “Budd” Bugatch, the dean of office furniture industry analysts, died recently at the age of 79. As managing Director of Equity Research at Raymond James for more than 27 years, Bugatch was the first in line to ask questions on nearly every quarterly financial call between publicly traded companies and Wall Street analysts, grilling executives on sales performance, profitability and outlook.
His tough questioning and persistence provided clarity for his clients and the industry, especially during the turbulent economic downturns in 2000 and 2008.
After his retirement from Raymond James, he so missed the challenges of analyzing companies that he joined Water Tower Research in February 2021 as one of its founding analysts. According to the company, he was instrumental in training and developing others in the field so they could follow in his footsteps. “He has made a lasting impression on the teams and clients of WTR. His dedication to the firm, his smile, and his jokes will be missed terribly,” according to a company announcement.
More recently, he hosted a virtual home furnishings conference that include CEOs from Andmore, formerly International Market Centers, Culp, Hooker Furnishings, Ethan Allen, Flexsteel and Haverty Furniture.
His love was clearly the deep dives into companies and reporting on their results, according to WTR. His coverage included many companies in the residential and office furniture industries, as well as small and large furnishings and hardlines retailers. Throughout his career, he was recognized as one of the top analysts in the housewares and furnishings industry in past Reuters Analyst and Research surveys, the StarMine Top Analyst survey, the Forbes Blue Chip Analyst survey, and The Wall Street Journal Best on the Street survey. He also participated periodically in Wall Street Transcript roundtables. He was a very recognized spokesperson on earnings days on CNBC. Budd never hesitated to mentor, train, and advise numerous analysts with their careers.
Born April 27, 1945, in Baltimore, Bugatch he was the chief executive officer of a nine-store retail furniture chain headquartered in Baltimore prior to becoming a practicing sell-side analyst in 1984. He also served in the U.S. Army.
Bugatch held a master’s degree in business administration with distinction from Harvard University and held a bachelor’s degree in economics from the University of Pennsylvania where he graduated cum laude.
He is survived by his wife of 55 years, Nanette “Nan” Bugatch, the pair frequent travelers on cruises to many countries around the world.; his daughter Samantha Bugatch and her husband Charles Ziesing; and grandsons Adam and Jason.