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Technology Stocks : Newbridge Networks

NN 11.36

-9.3%

3:59 PM EST

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To: Brett Nelson who wrote (4240)	4/26/1998 11:49:00 AM
From: pat mudge	Read Replies (1) of 18016

On March 27, NN was trading for $27.75. what gives? Hard to say what he was thinking. Since the stock's been in a trading range since then, it's clear his recommendation didn't affect it one way or the other. Believe me, I don't trust analyst recommendations. I was in a stock once that tanked in half over night because of a major contract loss. I happened to be going to a tech conference sponsored by one of its major IB's, so asked their analyst if they were buying. He said, "No!" Then he looked at me as if to wink (probably thinking I was one of them) and said, "Not only that, we're shorting it." Yes, there are honest analysts. But since I have no way to sort them out, I read their reports with skepticism. Just my take. Pat

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