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Technology Stocks : InfoSpace (INSP): Where GNET went!
INSP 127.35-2.3%Nov 26 3:59 PM EST
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To: levy who wrote (22776)12/13/2000 3:26:36 PM
From: Puck  Read Replies (2) of 28311
 
Analysts now say that the amount of time they have to conduct fundamental research on the twenty or so companies they follow averages about one day a week. The rest of the time they spend under extreme pressure pursuing investment banking business and attempting to generate trading volume by pitching stocks to clients. I don't think it's hard to accept the idea that an analyst new to a company as complex and challenging to conceptualize as InfoSpace with so little time to study it might well have a very shallow understanding of it and its possibilities for quite a while and thus be capable of providing only the shallowest of analysis. The Washington Post article(http://www.washingtonpost.com/wp-srv/business/feed/a59866-2000apr1.htm) completely demythologizes analysts as being delphic oracles of investment advice and instead portrays them as being full of human flaws and frailties, like the rest of us, and working under impossibly demanding conditions, characterizing its subject as being a connsumate salesman who is cavalier and even whimsical with his opinions. In retrospect, those opinions weren't very rewarding for his investors. I believe that whoever is now covering INSP at that firm has no greater insight into INSP (especially now that the back channels of communication have been taken away because of reg. FD, which is evinced by nature of the content contained in the conference call) than you or I and possibly quite a bit less because we pay attention to it seven days a week and twice on Sundays.
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