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Technology Stocks : Winstar Comm. (WCII)
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To: Steven Bowen who wrote (5640)5/1/1998 12:39:00 PM
From: NoMoreRBOC  Read Replies (2) of 12468
 
I also find it interesting that a few weeks before Ms. Comfort's downgrade, Morgan Stanley was recommending WinStar's Series D convertible preferred stock to its clients. I realize that a valid recommendation to invest in a dividend paying preferred stock while very shortly thereafter downgrading an investment in the common stock of the same company is not necessarily impossible to justify, but c'mon. In March 1998, Morgan Stanley is telling some clients that Winny is a great company and they should invest in its equities and a few weeks later Morgan Stanley is telling another set of clients that its time to abandon ship? The recommendation for the Series D and the evaluation of the common stock have to be based on the same company fundamentals. What did Ms. Comfort miss? Or did Morgan Stanley's other analysts make the mistake? I don't know, but it seems someone at Morgan Stanley has to be terrible wrong.

Regards

nomorerboc
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