Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: robert b furman who wrote (48901)	10/18/2000 11:21:49 AM
From: Chip McVickar	of 94695

The 2000 All-America Research Team? Institutional Investor (www.iimagazine.com) just recently announced their 2000 All-America Research team. This means what? Not much. 1999 -- 2000 Firm 1 -- 1 Merrill Lynch 3 -- 1 Morgan Stanley Dean Witter 2 -- 3 Salomon Smith Barney 5 -- 4 Credit Suisse First Boston 6 -- 5 Donaldson, Lufkin & Jenrette 4 -- 5 Goldman, Sachs & Co. 7 -- 7 Bear, Stearns & Co. 8 -- 8 Lehman Brothers 8 -- 9 PaineWebber 10 -- 10 J.P. Morgan Securities 11 -- 11 Prudential Securities 11 -- 11 Sanford C. Bernstein & Co. 14 -- 13 Banc of America Securities 13 -- 14 Deutsche Banc Alex. Brown 20 -- 15 ISI Group 18 -- 15 Robertson Stephens These are the banks that had the highest ranking for analysts. Why is this deemed important? Well in the last few years as IPOs have sprung eternal, banks needed to justify the potential of all these new companies. Essentially, "top" analysts (which in years past were always viewed with disdain by the traders that actually made money) are used to pump up people into buying the chosen shares. But, there is a big problem here. These "top" analysts never do the heavy lifting of actually alerting investors when to buy and sell and how much to buy and sell. If those questions are not answered what good is their analysis? Think about it....! As anyone noticed that these "top" analysts have continued to offer buy and strong buy recommendations on stocks that have nose dived over the last 6 months? The trend is straight down and these guys are telling people to buy! Where is the sell advice....? Maybe we are just too idealistic. All-America Research team? Give us a break. turtletrader.com

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