That 60 Minutes Transcript is sickening. If you are an investor or a trader, you owe it to yourself to read it.
The TRUTH about Wall Street: The Individual Investor is their mark.
Think of ANAL-YSTS as the ANTI-PROPHETS of Wall Street.
Morgan Stanley made millions in fees raising money for Priceline. Morgan's analyst, Mary Meeker, recommended buying Priceline's stock at $134 a share. When it fell to $78, she repeated her buy recommendation. And she kept recommending Priceline as it fell to less than $3.
Unbelievable!! that this person still has a job in finance. I wouldn't hire her as a bank teller, for fear she would be pocketing cash.
Much of Pets.com's financing was raised by Merrill Lynch. Merrill made millions. Merrill's analyst Henry Blodgett made a buy recommendation at $16. When it fell to $7, Blodgett said "buy" again. Again a "buy" at $2 and again at $1.69. When it hit $1.43 a share, Blodgett told investors to "accumulate." Pets.com was recently kicked off the stock exchange.
Unbelievable!! that this person still has a job in finance. I wouldn't hire him as a Pet Store Clerk.
Blodgett has said his prediction was based on sound analysis using new ways to measure a company's performance.
Beware of thieves carrying differing weights.
If we cannot trust the words of ONE analyst from Merrill Lynch or Morgan Stanley or some other Barney, then we cannot trust ANY of their anal-ysts.
What these major brokerages say to us, as Individual Investors, is designed to deceive us into making BAD decisions!
Thanks, Eurobum for posting.
We really do need to ban together as Individual Investors to protest these horrendous actions by Wall Street, and demand that the SEC take action against these criminals.
Rande Is |
