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Technology Stocks : ATI Technologies in 1997 (T.ATY) -- Ignore unavailable to you. Want to Upgrade?

To: David MacNeil who wrote (3772)	7/14/1999 1:02:00 PM
From: Robert	Respond to of 5927

How about Yorkton and QLT on Toronto. They bashed the stock for all of last year, reiterating their sell advice (obviously they went short, and probably borrowed clients shares) over and over. That was when the price was around $20. Last time I looked, QLT was closing in on $80....It proves they don't have a clue how to analyze a companies fundamentals. Or how about Merril Lynch just yesterday. They downgraded Rogers Communications on the day it announced a $600M investment from Microsoft....

To: David MacNeil who wrote (3772)	7/14/1999 1:04:00 PM
From: Stocker	Respond to of 5927

I think the biggest thing to keep in mind is that analysts are paid by brokerages to help promote the brokerage's corporate clients' stocks. That's contrary to what they'll say publicly but it does explain the huge bias they have against issuing a sell recommendation. The firm's ultimate goal is to keep client money at the firm, that of both small investors and corporate clients. So I keep that in mind each time I read a report. Be critical and keep in mind the brokerage's interest in the recommendation and you'll save yourself a lot of grief. As for CT's report and ATY, it's an attempt to keep all parties happy. As a analyst, the best way to keep your job short of being very right on a "strong buy" stock is to not make any bold calls that could turn out to be very wrong. Hence we get "....the stock may go up or I guess it could go down...but I'm really not sure....".