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Politics : Formerly About Applied Materials
AMAT 223.95+1.7%Nov 21 9:30 AM EST
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To: willcousa who wrote (39162)11/6/2000 12:14:30 PM
From: Tito L. Nisperos Jr.  Read Replies (1) of 70976
 
Wilcousa, RE: "SSB has been about as wrong on tech as anyone. It is amazing they keep trying "

Such action I described in 1997 as the "Wisdom of (King) Salomon." Recently in my Dictionary, I referred to them as "Winners for the Short-term but Losers for the Long-term."

In the Spring of 1997 when AMAT after hitting 72 was on its way down for the normal YoYo Drop, one Lady Analyst of SSB downgraded AMAT. She was proven to be a Winner Short-term when the stock continued dropping until it hit less than 58. Later, when the stock hit the highest price of 108 3/8, the analyst was proven a Loser Long-term... Later the Lady Analyst was "kicked Upstairs" when she became from a Semi-Equip Analyst to a Semi Analyst.

SSB may not be aware of it but it is very Lucrative for the Firm to have a Winner even for the Short-term only in its fold even if that someone would be proven a Loser later.

In the Spring of 1999, another SSB Analyst downgraded AMAT that resulted in a YoYo Drop for AMAT from 71 5/8 to as low as less than 58 (again). Afterwards AMAT rebounded for a final YoYo Catch at the price of 230 (115 post-split)! The Analyst may not have been Kicked out but he changed Firms later.

Now, SSB is at its usual self again --- downgrading AMAT for the sake of it. Next year, a Bull Market year when the New Administration tries to Undo what Greenspan did to weaken the economy to fight inflation, we will see how much of a Loser SSB will become. Time will tell...
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