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Pastimes : Ask Mohan about the Market

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To: Barbara Barry who wrote (9036)	11/22/1997 10:11:00 PM
From: Rational	Read Replies (1) of 18056

Barbara: You are right in saying: "I really don't think all analysts are idiots." But many are prevented from saying what is right and dance to the tune of their bosses. Even then an analyst told that AMAT's management is naive to forecast that their future is bright. AMAT longs have become furious about this analyst, who opened his mouth perhaps because his firm was selling AMAT. WS will jump into action via program trading because when the dealers begin to lose a lot, they know how to salvage as much as they can. No analyst will then open mouth -- this is my guess. The finance profession has shown conclusively in empirical research that there is no systematic correlation between the analysts' ratings and long-term stock performance. Even then analysts make a lot of money because brokerage firms benefit from their pronouncements in the short-run due to active trades. Sankar

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