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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: Mark Davis who wrote (10325)6/27/2002 11:59:57 PM
From: Bob Kim  Read Replies (1) of 12617
 
Of course the analysts privately ridiculed these co's, for fear of being thought complete imbeciles by their peers.

The really sad thing is that Blodget similarly ridiculed his buy-rated stocks in the Washington Post more than two years before Spitzer unveiled so-called "smoking gun" emails.

Another factor that is ignored is that at least one NYSE/NASD-approved person has to sign off on an analyst's research, plus, if it involves an investment banking client, it may also involve one or more lawyers. Yet no one really asks how did the research get by the people who were supposed to ensure it met regulatory standards.
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