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Pastimes : Analysts Exposed- Jamie Kiggen (DLJ)
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To: Brasco One who started this subject11/24/2000 9:33:24 AM
From: Pamina  Read Replies (2) of 263
 
Some important things to remember:

When any company recommends a stock with whom they have a financial relationship - their primary responsibility is to that company not to you - the retail investor. Many brokerage houses are divisions of larger financial conglomerates that include investment banks. Apart from potential conflict of interest, analysts have a tendency to focus on micro issues associated with near term EPS on a company by company basis. This renders analysts vulnerable to missing significant macroeconomic and industry trends, not to mention political uncertainties. In addition, rarely do analysts seem to pay attention to financial statement analysis, witness the fact that Lehman Brother's bond analyst rather than their stock analyst was the first to call attention to AMZNs soft balance sheet.

Re DLJ - not sure if Kagan was responsible for this one - but GBIX had coverage initiated in March - after the stock price had fallen - at that time share price was 37 - target was 50 - now around 3.
Here are other targets from DLJ recommended list (again - not sure who the analyst was)

ESTM - target 50 - under $1
RMKR - target 30 - $1
PDYN - target 65 - $3

However, lets be fair - they entire internet sector is a mess - which analyst was able to predict this downfall?

And one more thing - how bout someone posting other analysts ratings and current prices - I am sure there are other big sinners around.

Pamina
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