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Technology Stocks : Intel Corporation (INTC)
INTC 38.44+0.7%Nov 10 3:59 PM EST

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To: Road Walker who wrote (119736)11/30/2000 8:40:15 AM
From: fred woodall  Read Replies (12) of 186894
 
Analyst Credibility

Investment banking conflict of interests aside, it's hard to imagine how the analyst community on Wall Street will regain it's credibility. It's not just the pervasive levels of buy recommendations at the market tops, it is the downgrades that come after stocks loose two thirds to ninety percent of their value. These downgrades finally come not because analysts spot shifts in trends that will turn the prospect of the companies they follow, but because buy recommendations on stocks that have lost most of their value become an embarassment.
The same goes for market technicians. The only living and breathing maven that was and has remained bearish on the Naz for the past year is Gail Dudad (correct spelling?). All others have fallen by the wayside, throwing in the towel on the way down and reversing their bear stands under management pressure. The worst part of it is that in the past six months there hasn't been a single credible research report comparing sector valuations over market cycles, or at least credible enough to be debated in the financial media.
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