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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: tradermike_1999 who wrote (2506)	3/22/2001 11:13:22 AM
From: tradermike_1999	Read Replies (1) \| Respond to of 74559

Los Angeles Times reported that a LA retail store called the 99 Cents Only Store ran an ad in the newspaper this weekend offering "9 Internet Stocks for 99 Cents." Some people called the stores asking for investment advice. One person wanted to know how much more Intel would drop. Others came down to the store asking to buy the stocks. The person who came up with the ad thought it was a great joke and evidently everyone else did too. No body has complained about his brand of humor. Over on Wall Street no one is laughing during this market decline. The London Times did an excellent investigative report that the Wall Street Journal or CNBC will never touch. At J.P. Morgan, Peter Houghton, the head of equity research, sent out a memo to every analyst at the firm saying that all stock recommendations will now have to be sent to the companies concerned and the relevant investment banker at J.P. Morgan first. "If the company requests changes to the research note, the analyst has a responsibility to incorporate the changes requested or communicate clearly why the changes cannot be made," he wrote. The "clients banker" must also first approve the report via email before it can be released. Any analyst who tries to be independent will be fired.