I don't get it either. Analysts can upgrade a stock one day and downgrade it the next. Investors should bring class actions against these crooks.
Take THE STREET.COM, for instance. Yesterday, a story ran on YAHOO QUOTES and various other sites focusing on some negative comments about ORACLE. Unfortunately, one could not access the story unless they were a PAYING SUBSCRIBER to THE STREET.COM. As we all know, Oracle announced yesterday, and Cramer and his cronies used that opportunity to lure people to his site by concocting this negative hype. The story was all speculation, anyway, so why couldn't it have been released it on Monday, or last week, even? He figured there were a lot of desperate investors out there, scouring the web for any tidbit of info. That story was just an advertisement for his site which, from what I understand is going to go public(!)
Beyond that, most of these "analysts" have positions in the companies they talk about. Remember, they are out to make a buck, just like you and I. They don't care about you or the status of the economy, or what is good for the market -- they care about themselves (I just described 99% of Wall St.). To believe otherwise will only result in more days like today.
In the end it's the big investors that will run a stock up or down. A handful of little guys like us will probably have no effect... but if we ALL stop listening to these mindless lemmings, who knows?!
I'm still amazed that one is required to go to college and get a degree in order to do this for a living. |
