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To: NickSE who wrote (41127)	5/15/1999 3:35:00 PM
From: NickSE	Read Replies (1) of 86076

Nearly Every Stock Is A 'Buy' On Wall St. dailynews.yahoo.com [...] Buy ratings made up two-thirds of a total 26,692 U.S. analyst recommendations at the end of March, according to data from the research firm First Call Corp. The 208 sell recommendations accounted for less than 1 percent of the total. The rest were ''holds,'' which investors have learned to view as ''sells.'' The reason, industry insiders say, is that analysts think highly of the companies they cover and are spoiled by a decade-long bull market in stocks. They are also afraid to alienate management, and sometimes are pressured to issue favorable reports by their own firms' rain makers -- investment bankers that pocket fat fees for helping companies sell stock and bonds. The lopsidedness of Wall Street research has worried Arthur Levitt, chairman of the U.S. Securities and Exchange Commission (SEC), and even stuns longtime Wall Street experts. ''I was shocked when I saw the numbers the first time,'' said Chuck Hill, a former technology analyst and now First Call's director of research. ''I knew it was going to be far more biased than it ought to be, but I did not think it was that bad.'' [...]

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