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To: Greg h2o who wrote (45282)9/23/1999 3:54:00 PM
From: Black-Scholes  Read Replies (2) | Respond to of 50808
 
You cannot assume that "they" are far closer to the situation. Analysts can sometimes be spectacularly wrong. Drew Peck was the same guy that issued a "sell" on Dell Computer - three and a half years ago. Let's see, if I were his client back then and owned a 1,000 shares, that would have "cost" me about a half-million dollars. Ya know the reason he gave for selling? Weak PC demand.

Point is: Analysts are just as prone to error as the little guys sometimes - especially in the internet age. That's precisely why capital markets are fairly efficient.