Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 48.32

-0.8%

Jan 15 3:59 PM EST

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To: StockHawk who wrote (109448)	9/7/2000 4:02:25 PM
From: Burt Masnick	Read Replies (1) of 186894

Re"Where there is smoke..." The problem is who lit the match to make the smoke. Analysts are not always unbiased scientific detached viewers of the scene. They are individuals who "work for a living". In practical terms that means that the analyst who is regarded as the "axe" on any of the top 500 securities earn much more than those who are not. An axe can move a security up or down merely with his/her pronouncements. Kurlak was the Merrill Lynch axe on Intel until it became obvious that he was dead wrong. Not slightly wrong or moderately wrong. Dead wrong. If you followed his advice you lost money. Big money. When his wrongness became the stuff of public laughter (effectively being called a dunderhead on Louis Rukeyser, public dressing down by Barrett at stockholders meeting) then his days at Merrill were numbered. The vacuum created by Kurlak's departure opened up the way to Drew Peck, Joe Osha, Niles, Edelstone and Kurlak to become the next axe. Kurlak has siezed the moment and maximized the visibility of his pronouncement. He will undoubtably do this again because it pays (him) to be visible with his comments. Kurlak did manage to make people a lot of money though. If they bought when he pole-axed intel's share prices, you did great if you held on for the ride. Trouble is still possible however. First of all, even a stopped clock is right twice a day. He may have called attention to a real slowdown in the growth of the PC market. BUT if he is wrong a few times in a row, he'll wind up being publicly ridiculed (which always has consequences)because he will become another Joe Granville or Elaine Garzirelli. However, my observation is that analysts sometimes fail up, so they win in the end anyway. Do your own research, reach your own conclusion. Good investing to all, Burt

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