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To: LPS5 who wrote (10140)	5/5/2002 12:57:19 AM
From: Bob Kim	Respond to of 12617

LP, Just in case it wasn't clear, "stupid" was in no way directed at you. This is the link to the affidavit. Look at page 32: oag.state.ny.us BTW, this topic is not new to me. In case you missed it.<g> From the 7/14/00 WSJ: Despite Mr. Blodget's 75% caveat, his recommendations on individual stocks, like those of many Internet analysts, got more bullish even as they led the Nasdaq Composite Index to ever-more-dizzying heights. Today, he rates 12 of the 27 stocks that he follows as "buy" (the rest are "accumulate"), compared with just one buy rating for the 10 stocks he followed a year ago, says Bob Kim... "Out of one side of his mouth, the message of caution," says Mr. Kim, "the other side, buy the leaders." He describes the Blodget message as: "The risk isn't losing 100% of your investment now, it's giving up 10-times gains in the future." But, says Mr. Kim, "it seems that so far, little of that has panned out except for the downside part."

To: LPS5 who wrote (10140)	5/5/2002 11:06:21 AM
From: Bob Kim	Respond to of 12617

And, as I'm sure you know, the analyst could always qualify his ridiculously bullish buy call at $170... Could, but didn't. As you've noted, it's a game. The analysts, over time, learn to "work" the research system. In the end, it's the firm's responsibility and the analysts tend to know that. In this particular case, the firm made the stock one of its top 10 tech stock picks at around the $170 level despite the problematic price target. save for one individual in particular who, working for a large securities firm, attacked the company's prospects from a debt perspective Did you know that Merrill's converts analysts removed Amazon converts from their model convertible portfolio in August 1999?