Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: IceShark who wrote (30052)	10/23/2000 8:02:31 PM
From: Bocor	Read Replies (2) of 436258

"The purpose . . .was not to help investors. . . but rather to line his own pockets as soon as he hyped the price of the stock." On September 25, 2000 WR HAMBRECHT + CO analyst TIMOTHY SAVAGEAUX issued a STRONG BUY rating on CMTN with a 12-month target of $145 ....... Well Mr. Levitt was this analyst just plain stupid, or did he have an agenda also? Seems that a veritable pandora's box could be opened on Wall Street should the SEC truly begin to investigate the scam recommendations and fraudulent pump and dumps that are perpetrated daily from analysts. Trillions of dollars have been lost this year because buy recommendations like the one above kept coming from the same mouths that were yelling "sell, sell" to their brokers... When a stock runs for no apparent reason, the analyst must raise his price targets to keep pace with the market, and must justify it someway, somehow, period. Now that is truly criminal. That kid was only doing what he had the smarts to observe being done by the pros. He was trained by CNBC, and is now being prosecuted (persecuted) because he got caught.

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