SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 180.88+2.0%Oct 31 3:59 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: qveauriche who wrote (111616)1/25/2002 11:17:07 AM
From: carranza2  Read Replies (1) of 152472
 
There was a PBS Frontline report on the dot.comedy last night. Very well done.

The report focused on the good ole boy network as it related to allocating IPO shares during the mania. The investment bankers who got shares during the mania flipped them at terrific profits. The VCs who funded these fledgling dot.bombs also made out like bandits. Analysts like the Meeker gal provided the necessary hot air.

We all know this, but it needs repetition lest we start to thinks that the investment banks and the analysts have any credibilty whatsoever. They don't. It's caveat emptor in the securities game.

An unvirtuous circle came about where the VCs made a killing, the investment banks hyped the soon-to-be-bankrupt bombs while flipping the shares at a tremendous profit, assisted, of course, by in-house "analysts" whose pay depended on how profitable their employers had been. Naturally, the analysts were hardly objective, fueling the mania.

Anyway, the point is that analysts are whores, the investment banks have the honesty and credibility of rug salesmen, and that, except for rare exceptions, under no circumstances should upgrades/downgrades be taken without the requisite dose of salt.

The investment banks are sitting ducks for huge class action lawsuits. A good short play as the dot.comedy finally unwinds.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News