Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: Dave Gore who wrote (7974)	7/9/2002 12:46:47 PM
From: Dave Gore	Read Replies (1) of 16631

ANALYST's EXPOSED ---- More Horrible Calls by Merrill, JPM< and U.S. Warburg (or was it purposeful so they could short into the hoped-for-buying). I'll E-mail them and c.c. the SEC and Spitzer. Originally posted around June 10th: I'm not a big fan of CNBC as most of you know. But, once in awhile they provide some classic insight. In case you didn't hear, Mark Haynes really pointed out how useless analysts are this morning. I loved it. In his typical dry manner, he picked on a couple firms who were upgrading TYC today. Also IBM. I love to pick on them too, because they really deserve it! Merrill Lynch put a "Strong Buy" on TYC at $58 (its high) and didn't downgrade it until it reached $16! JPM had a "Buy" on TYC at 50 and didn't downgrade until it hit $10! US Warburg had a "Strong Buy" on IBM at $125 and just reiterated today a "Strong Buy". I guess they have to get it right sometime, huh? I suppose this is nothing new, but just reinforces what we all know. Why analysts carry as much weight as they still do is beyond me.

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