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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: EL KABONG!!! who wrote (1217)	5/14/2003 12:22:45 AM
From: GraceZ	Read Replies (1) \| Respond to of 4907

Actually, do you really think it was the analysts that purposely gave companies estimates that the companies could beat? Companies who missed were punished severely, so companies tended to guide lower or to "manage expectations" so they were comfortable that they could meet or beat them. MSFT was the king of managing earnings expectations. Then of course we got into the silly years of companies being "expected" to beat "expectations". The analysts were simply taking the numbers that the companies were feeding them. Its got to be a lot harder to do that job now, with reg FD the companies don't want to talk to anyone about anything whereas before reg FD the analysts had some access to information directly from the company. The terrible thing is now you can't even count on the tape telling you something is up because for the most part nobody knows anything outside of the publicly released info. I'm finding companies have become more opaque with the passage of reg FD.