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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Ally who wrote (10393)	3/29/2001 10:58:26 AM
From: Bill Fischofer	Read Replies (1) \| Respond to of 15615

I find I find it more than a little ironic that the huge NASDAQ slide beginning last September coincided with Regulation FD going into effect. In retrospect this is another one that we should have seen coming. Analysts got very lazy just repeating info they got on the side from company CFOs. With that backchannel cut off Wall Street has been flying blind on forecasts for six months now and their ability to do truly independent analysis and research has simply atrophied due to many years of lazy habits. To be a good analyst in the post-Reg FD era you need the skills of an investigative reporter as well as the ability to run a spreadsheet model. I've come to believe that this is going to have a very profound effect on the structure of the brokerage business in the years ahead--at least as much an impact as online trading and discount commissions. Looks like we've seen the worst of the selloff for now and are now entering the end-of-quarter mark-up period. This is where fund managers, having dumped their dogs, now juice their favorites to make their performance numbers look better (or at least less dismal) than they otherwise would be. A good opportunity to raise cash. I fully expect the sellers to return next week and to be with us until tax day passes. If GX is smart they'll hold back any blockbuster announcements until April 16th.