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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: AmericanVoter who wrote (15300)	12/29/1999 6:26:00 AM
From: Mike Harvey	Read Replies (2) \| Respond to of 19700

Zen and Amein: Let me inquire about your MSDW theory for a minute. You both seem to be saying that any given analyst will come out with a highly favorable recommendation for a stock simply because the company he/she works for is the underwriter for the stock or a related issue. I freely admit to the probability of heavy empirical evidence for such a bias, but I'm sure you can't say it is always the case. Maybe MM is very bullish on the company long term, but maybe in the short term she thinks it is fairly priced, or possibly even overpriced. So isn't it possible that she comes out with a Long Term Buy/Attractive but a short-term Neutral/Accumulate?. Secondly, let's say a week from now or whenever she DOES come out with positive recommendations. If the above Underwriter Bias is in fact evident historically/empirically, then doesn't it stand to reason that you two are probably not the only market players who have spotted it? I.e., wouldn't the marketplace have already discounted it, at least largely, into the current stock price? I am not making a call on what MSDW will or will not do, nor am I making a call on what CMGI's stock price will or will not do as a consequence. (Mostly, I don't care - as you maybe can tell from previous posts, I'm more a technician than a fundamentalist). My point is, maybe you shouldn't either. Incidentally, Zen, I apologize for the spelling suggestion a few posts ago. It was rude. My excuse is that I just wanted to continue to foster one of the many distinctions between the SI and Yahoo boards. Pretty weak. Mike Harvey