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Politics : Formerly About Applied Materials
AMAT 295.83+4.1%3:59 PM EST

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To: Katherine Derbyshire who wrote (41928)2/12/2001 4:41:51 PM
From: Raymond Duray   of 70976
 
Hi Katherine,

Re: Does any analyst *ever* say "Sell?"

Howard Kurtz mentions this in "The Fortune Tellers" and, yes, analysts do issue sell recommendations on about 0.5% of their calls. Current scuttlebutt is that the conflict of interest is simply so blatant that we will see a return to the old method where independent analysts like Sanford Bernstein or buy side analysts like Ashok Kumar of Piper, Jaffery are the only Wall Street pros that the retail investor will trust. Certainly, it has been almost pathologically easy to make the case for being a contrarian on any wire house call over the past year. <g>

This one is the absolute classic:
Message 14603502

Best, Ray :)
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