Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Pancho Villa who wrote (8178)	12/11/1997 2:45:00 PM
From: Bill Wexler	Read Replies (2) of 9285

<<Just can't understand the analysts. >> It's very simple. Analysts are now no better than hypemeisters like Carlton Lutts and Westergaard. There is so much moeny to be made from doing secondary offerings, convertibles, etc. that an analyst will say anything to make the company happy and get its business. When is the last time you've actually seen a "sell" recommendation? How many times have you seen downgrades AFTER the stock has plunged 90%? How many times have you seen analysts issue buy recommendations AFTER a stock has skyrocketed a few hundred% (Note that AOL went from the low 20s to 90, and in the last few days about 5 analysts put out buy recommendations. Where were these guys 70 points ago?) I read in Barron's that Wall Street is now flooded with young people wanting to become analysts, brokers and investment bankers (a record number have taken their exams this year). Just another symptom of the stock mania IMO.

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