hb, Actually, being a bear, it doesn't matter if you are right enough. You get canned anyway, because you can't do any banking business with a neutral or worse recommendation. I still remember the analyst at Janney Monkey in the 1980s who said he didn't think Trump's casino company scam (I forget which flim flam it was, but I think it was Taj Mahal) could make it. He got fired for daring to voice that opinion. Of course, the Trump shell went belly up a few weeks later and the guy had saved clients millions of dollars. But he had cost the company some banking biz.
Gee, I wonder if the commission paying public still thinks the brokerage firms are actually trying to help THEM? <g>
BTW, nearly all analysts, bull and bear, get canned in a bear market, so it almost makes no sense to be a bearish analyst. Anyone who is bearish and plies his trade on the Street either has a mental problem or has honor, and the latter is certainly unacceptable. <NG> |
