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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: HECTOR RUBERT who wrote (27012)	7/26/1999 11:11:00 PM
From: Jeff Dryer	Read Replies (2) \| Respond to of 41369

Maybe the SEC should abolish all the big wig analysts or put rules in place for how their "sound bytes" are communicated by different media outlets. Afterall, there is a warning label on each pack of cigarettes purchased. Here's a common scenario: 100,000 investors are watching CNBC and the commentator says "This just in, Alan Braverman says AOL is a STRONG BUY and sets a price target of $..." What a joke! Is any reasonable explanation given as to why? Is there easy access for everyone to the full brokerage report? Often times, comments are made by analysts as just a morning or afternoon note and then everyone trades based on one person's opinion (a person who probably doesn't care a hoot about the individual investor, but cares much more about the institution he or she is working for). As far as the public well being is concerned, Why do hot shot analysts exist? And why do they have such power? Why does everyone on the planet hear short sound bytes from these "expert" analysts but never any detailed analysis? Why should "sound bytes" move stock prices?