To: Patrick Koehler who wrote (26642 ) 1/16/1998 10:11:00 AM From: Thomas G. Busillo Respond to of 53903
PK, I agree that Mark Haines questioning analyst calls is great. My only problem is that to my eyes it appears very selective. If he can select excerpts from two reports yesterday and broadcast them, I would assume he's perfectly capable of broadcasting excerpts from Merrill's 8/6 report, the report that amazingly had the effect of driving MU to his "price target" (and I would LOVE to see where Kurlak put in writing that 55-60 was his price target for MU), after which he pulled the plug. Isn't it accurate to say that Tom Kurlak lowered MU from a L-T acc. to a neutral at 22 1/4 (I think that was the close the night before the earnings release) and as of yesterday's close, that call was not particularly admirable? Mark Haines' program broadcast that call when it occurred. Now, if a viewer who for some reason was long MU and saw that call and scratched their heads and said "gee, Jim Cramer likes Kurlak. Mark Haines seems to report Kurlak calls as if they were very important. I think I'll sell"... ...are they happy or sad right now (it's not below 22 1/4 yet is it? <g>) So Mark Haines is coming out and calling that call admirable? The stock moves up 46% after Kurlak's last downgrade and Mark Haines is reporting as fact to his viewers that the man's record on MU is admirable? What kind of journalism is that? Hey, Mark Haines, Captain Truth - wow about pointing out the fact that while Kurlak lowered the stock from an intermediate-term acc. to neutral, he also had MU as an acc. all the way down to 22? Isn't that part of the story? Don't get me wrong. I like MU lower <g> Good trading, Tom