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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (18587)4/15/2000 8:49:00 PM
From: Druss  Read Replies (2) of 18691
 
Roger--My vote is that 99.1% of analysts ratings are meaningless. I have seen some analysts that were doing their job and downgraded stocks based on the actual performance they were expecting from the company. Perhaps a few of the upgrades I have seen were real also though I never take them seriously.
Most analysts to my mind are whores. They start a company their brokerage has underwritten as a buy, they then upgrade this IPO to a strong buy, then they reiterate the strong buy when realism starts to creep in on the stock.
The doublespeak around the term hold is very indicative of what analysts are about. Hold means sell, as is common knowledge in the market. Why don't the analysts use sell or strong sell? Because then the companies won't have anything to do with them. And analysts want to stay in bed with the companies.
All the Best
Druss
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