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When asked for his strongest picks, Niles explicitly chose the four I mentioned, Intel, Micron, Dell and Compaq. Dell and Compaq were chosen because of their growing share of the server market. So I guess that would be the rough equivalent of buy or strong buy. Outperform is a lukewarm endorsement that allows the endorser to claim he/she picked a winner while not really committing. Since, for all practical purposes, they almost never say sell (especially when you should - except for Fleck, who always says sell, blithely missing several hundred percent up moves but never admitting he was a teensy weensy bit WRONG), the usual order is underperform, market perform, outperform, buy, strong buy. |
