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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: GVTucker who wrote (133340)	4/25/2001 12:35:01 PM
From: Bob Kim	Read Replies (1) \| Respond to of 186894

GV, I agree it was punishment, but I don't think Osha's hands were tied by the options program. He typically likes to have his cake and eat it too. If he really thinks INTC is as bad off as he often verbalizes on ML research calls, he should put a Neutral/Neutral or lower rating on it because that prohibits a ML broker from soliciting a purchase even on weakness. A lot of chip stocks went up ahead of the recent downgrade, yet more than a dozen positively rated stocks weren't downgraded. Remember that ML's minimum threshold for a positive rating is 10% upside in 12 months. If you invested $100K in equally-weighted portfolios by Osha's ratings and rebalanced according to changes in ratings and coverage, the Neutral-rated stocks would be valued roughly $30K higher than his Buy-rated stocks on a YTD basis.

To: GVTucker who wrote (133340)	4/25/2001 1:04:16 PM
From: John Koligman	Read Replies (1) \| Respond to of 186894

GV - I wonder if it also might have anything to do with the recent option exercise troubles loads of employees have had due to the NASDAQ decline. There was an article just the other day in either the WSJ or NY Times concerning the WCOM option program run by SSB (I think). WCOM employees were up in arms about losing dollars because they claimed the brokerage was pressuring them to exercise and take out margin loans last year. The result in many cases was financial disaster. Microsoft was also mentioned in the same article... Regards, John

To: GVTucker who wrote (133340)	4/25/2001 4:15:17 PM
From: Mary Cluney	Read Replies (1) \| Respond to of 186894

GVTucker, <<<A more probable theory in my mind is that Merrill was pressuring Osha to keep a high rating on Intel while the option program was at Merrill. With the program gone, Osha was free to rate the stock where he wanted. >>> There must be some industry wisdom warning young analysts against falling in love with companies they cover as well as some corollary not to allow emotional hatred of a company to spill into their analysis. Osha is so transparent in his dislike of Intel that it is a wonder that his supervisors at ML couldn't see this. His emotions are no different than those exhibited by our own Scumbria or Dan3. If they could do or say anything to move Intel stock lower, they would. The only difference is that ML pays Osha a lot of money to think with his glands, whereas our own Scumbria and Dan3 do it out of pure passion. The fact that Intel has taken away a very lucretive business association with ML (about time they took some action) says quite a lot about ML management for letting Osha go on playing out his emotions. Time to short ML? Mary