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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.88+1.2%Dec 8 3:59 PM EST
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To: 16bobby who wrote (49928)3/14/2001 6:43:55 PM
From: Rob S.   of 77400
 
Who is to say many didn't? Did you listen to many of Cisco's conference calls over the past several months? It seems to me that many analysts have been increasingly nervous if not outright critical of the picture presented by Chambers and other self-serving officers of the company. Is this really a surprise to you? Analysts do not work for you. you do not write their million dollar pay checks (for instance, Mary Meeker and Henry Blodgett reportedly each made over $14 million in salary and bonuses last year). How do you think the analysts get paid so much? It’s not by watching out for the little guy's investments. What if they did warn their institutional clients to start getting out long ago? Analysts certainly didn't have a complete picture early last year and they have grown increasingly aware of the weakness in the economy and industry product cycles, but maybe they told their big clients, you know, the ones the DO determine their pay checks, "get out now the outlook is deteriorating" while at the same time they held their buy ratings and lofty price targets. If you have not understood that this is the way the "Wall Street Money Machine" operates then welcome to the party. Skyscrapers in NYC are expensive and somebody has to pay.
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