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Pastimes : MANIPULATION IS RAMPANT --- Can We Stop It? -- Ignore unavailable to you. Want to Upgrade?

To: Prophet who wrote (51)	5/11/2002 12:03:55 PM
From: Dave Gore	Respond to of 589

On Analysts: "analysts play a dual role that is often deadly for investors." - From "The Betrayed Investor", "Business Week", Feb. 25, 2002, p. 112 "What's worse, since they often get paid according to how much investment banking business they can drum up for their firms, analysts play a dual role that is often deadly for investors. At the height of the bull market, Salomon Smith Barney telecom analyst Jack Grubman had buy recommendations on practically all the companies he covered. During that time, Salomon was loading up on investment banking fees from telecom companies, racking up almost $1 billion since 1997 - more than any Wall Street firm. Now, nine of the companies Grubman cheered during the telecom craze are trading for less than $1 a share. At least four are in bankruptcy."