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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: RCMac who wrote (7259)10/28/2002 5:10:53 PM
From: Biomaven  Read Replies (1) | Respond to of 52153
 
Unfortunately Sterling's actions these days are like Merrill and Blodgett in the bad old bubble days. The preferred customers got the bullish report before the market did, they bought and then got rewarded when the stock popped when the report was publicly released. Didn't matter that the contents were garbage. It's a license to print money.

The only thing that will ultimately stop Sterling and their bear version of Blodgett is if they lose their following and so their reports cease to be self-fulfilling prophecies. That will only happen if their customers lose money following their recommendations. Judging by HGSI, we are nowhere near that yet - indeed it will perhaps only happen if some big institutions get mad at Sterling and decide to spring a bear trap.

Peter



To: RCMac who wrote (7259)10/28/2002 8:11:58 PM
From: John Metcalf  Read Replies (1) | Respond to of 52153
 
Thanks, RC, for the closer reading. However, there is also this:

"Sterling was also fined and Steven Kirsch, the head of Sterling's research department, was fined and suspended."

Maybe they meant "former head", but didn't say so.


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