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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (37350)	9/21/2000 3:11:36 PM
From: willcousa	Respond to of 70976

Gottfried, thanks for the link. Amusing? Yes, in a disgusting way. What a fiasco.

To: Gottfried who wrote (37350)	9/21/2000 3:36:44 PM
From: w0z	Read Replies (1) \| Respond to of 70976

The pot (Kumar) calls the kettle (Whittington) black: thestreet.com "There's absolutely no substance there," says U.S. Bancorp Piper Jaffray analyst Ashok Kumar. "The one from last week, it was like a high school kid was putting out a note. It just discredits the entire industry." ...but he just did a similar about face himself: thestreet.com "For now, Ashok Kumar is swinging his Intel (INTC:Nasdaq - news) ax the other way. The influential U.S. Bancorp Piper Jaffray analyst had rocked the chipmaker earlier this month when he downgraded it to buy from strong buy, citing slowing demand from PC makers, who buy the lion's share of Intel's products. But he told Piper's internal sales staff in a voice mail this morning that the stock looks good for the short term, given the beating it has taken lately. "The rest of the Street has recalibrated its expectations closer to ours," Kumar told TheStreet.com. "The stock is down 25% since we downgraded it. At some point, it becomes a trading buy." Kumar's firm hasn't underwritten for the maker of chips. Kumar hasn't upgraded Intel, nor even issued a formal note. But shares of Intel were moving higher nonetheless, lately up $1.44, or 2.4%, to $61.81." Sounds to me like a market timer that got lucky! I seriously doubt INTC's business fundamentals have changed one bit during all this nonsense. This "industry" (I prefer the term "racket") has long been "discredited" thanks to "analysts" that are little more than schills for their brokerage firms. Long live the Internet and discount brokers and these overpaid underachievers will eventually not be "influencing" anyone!