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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year
PSFT 0.00010000.0%Oct 29 5:00 PM EST
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To: LLCoolG who wrote (2799)10/16/1998 8:15:00 PM
From: Chuzzlewit  Read Replies (1) of 4509
 
LLCoolG, How many shares did GS actually own? How many shares did they sell on their own behalf? I'll bet you that the answer is zero. I'll bet you that there is a lot of churning. I'll also bet you that those guys aren't any brighter than Michelle, Tom, Melissa, and Raptor among others on this thread. And I'll bet you something else -- that Duffeld's guidance is one hell of a lot more accurate then these folks' opinions.

I'll tell you something else. I've been a financial professional for a lot of years, and I know the way brokerage house analysts work. They foster churning, and they do it in two ways: they are constantly changing their allocation models (cash, bonds and equities), and they continuously go through the upgrade/downgrade game. All too often these changes are made on the basis of their valuation models.

And the fact is that these models don't work.

If there was no news, then what is the basis of the down-grade? They (GS) are not allowed to trade on the basis of inside knowledge, so if they were told something they should have made it public. This would be an issue for the entire firm, not some individuals who personally traded on inside knowledge.

TTFN,
CTC
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