Mohan, Michael W...Just to close out the convo...
As you know, it is up to the individual investor to hold analysts, stock market prognosticators responsible for their good (or bad) calls....Relying on others (CNBC?) to do this for the investor would be a grevious mistake..
I would stress again, it is these people's job to analyze data and to forecast for their clients....that is what they do.....it is impossible (in my view) to fault them if they are using reliable methods, and making forecasts based on that data.....the problem is, that it occurs all too often (in the investment community) that forecasts are made, manipulated (on individual stocks, market) with the goal of making a buck on the trading side and/or investment banking side....this is wrong (ethically), but in some cases, it is not even wrong legally (I believe)....I doubt seriously Kumar and his group are doing this here......(BTW- I obviously think some securities laws should be changed, but we have to invest based on the current framework..)
Back to Kumar, I still dont see where he did anything wrong...he is paid to make these observations...it is up to us to remember his track record...he has a good one, therefore, one should give him a little more thought (then most)......you are right, Mohan, most analysts dont know what they are talking about....but occasionally, they do stumble onto something, or do some good (great) research.......As for HQ, I was not addressing that issue....If H&Q did make false and misleading statements (and this can be proven), then they should be punished (thru the proper channels...SEC)...Wasnt this (though) a rumor?
Final point (if it wasnt clear before): One should not be trading (short-term) if one is not willing to live with the risk of a rumor burning a stock (short-term)....Holding long-term eliiminates most of this risk......I have probably spoken too much on this......I am done <g> |
