The pros did poorly in the 3rd quarter on their top stock picks. Hmm.... I wonder how our favorite professional stock picker, Raven the monkey, did during the quarter? <g> jeff
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Pros' Picks In 3rd Period Took A Beating
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A survey of the top fifteen brokerage houses' top stock picks for the third quarter shows that only one firm, Prudential Securities, showed a positive return. Eight of the fifteen beat the Standard & Poor 500 Index, but that index was down 6.24% for the period. Technology stocks highlighted the winners, with Oracle, Gateway and Atmi coming in on Prudential's list. Lehman Brothers is the overall leader for the last twelve months, while Prudential is currently fourth. Lehman's top performers for the quarter were Intel, General Instrument and Microsoft, with applied Materials, Converse Technology, and MCI WorldCom coming in as the best over the last twelve months. Other large movers for other firms in the quarter were Nextel, Sun Microsystems and Apple Computer, with AT&T the exception among tech stocks. Goldman Sachs and Credit Suisse First Boston are currently second and third on the list, although Credit Suisse posted the third worst quarter. Their top performers for the quarter were Nextel and Voicestream, respectively.
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