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Pastimes : Analysts Exposed- Jamie Kiggen (DLJ) -- Ignore unavailable to you. Want to Upgrade?

To: Brasco One who wrote (78)	11/23/2000 2:07:12 PM
From: BWAC	Read Replies (1) \| Respond to of 263

A few responders here have said things to the tune of 'buyer beware' and the investor should accept responsibility for their own actions. In theory that is true. But in practice it is not. The investor pool is made up of all kinds of various individual knowledge and experience. Some are young, some are old, some are experts in financial analysis, some can hardly balance a checkbook, some are technology experts, some can't turn a computer on, some are skeptical and question, some believe everything they read, some make their own decisions, some rely on professional advice, some are just square in the middle of it all. It takes all types to make the world go round. BUT when an investor chooses to rely upon professional research do they deserve to be hung out to dry? They wouldn't have sought these professionals advice or research unless they wanted a professional opinion. One with expertise that exceeded their own, one with superior knowledge, one to make sure they were investing properly. These are the people who were truly screwed. Set up even, stolen from. You cannot tell me that ANY honest responsible professional would recommend buying a company trading at a $50 Billion valuation, when it has less than $10 Million sales. Yet these type stocks, and these type recommendation were routinely trumpeted to these investors seeking advice. The analysts merely wrote the glowing reports and targets, but the sales staff took those reports and advised customers on their purchases. And it is all legal as can be. But is it right? No other profession I know of could operate this irresponsibly. Even lawyers have higher standards and fiduciary duties to adhere to. I wish the vast investing public would see these analysts and sales staffs for what they are. When they do, and maybe that is just a generation away, their power over the market will disappear. Cause all the customer's money will be at online brokers. $250 Commission to advise somebody to buy 200 shares worth of DippyDoodle.com at $125 per share. Baloney! Hung out to dry, irate customers should be leaving these large old brokerage houses in droves.