MS cut RMBS estimates? I guess with Edelstone off the beat, they can, er, reevaluate the situation a bit.
Somewhat related, there was this interesting article in the Sunday paper:
I.P.O.'s Put Analysts in Line for Conflicts nytimes.com
Most Wall Street firms, including Merrill Lynch, Morgan Stanley, Salomon Smith Barney and Credit Suisse
First Boston, allow analysts to own shares of the stocks they follow. While the details of the firms' policies
vary, most require an analyst who wants to sell those shares to do so only after he or she has cut the stock's
rating. At Merrill Lynch, for example, analysts cannot sell a stock that they have rated a buy. They must first
downgrade the rating to neutral and wait 24 hours.
Somehow, I imagine the supreme flackmeister Edelstone managed to get out in a timely fashion. Who can say, though? |
