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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (49090)	2/26/1999 1:18:00 PM
From: Eggolas Moria	Read Replies (1) \| Respond to of 132070

<<The crowning moment was when top rated analyst Dan Niles admitted he hadn't even read a 10Q on a co. he follows. >> Not sure about Niles specifically, but there is a difference between buyside and sellside. I recall talking to a steel analyst once about product line revenues and he told me that the company didn't break them out that way. I had to point him to the footnote in the 10-K. That was over 10 years ago. Oh well, some things don't change.

To: Knighty Tin who wrote (49090)	2/26/1999 2:05:00 PM
From: eWhartHog	Read Replies (1) \| Respond to of 132070

<<AR, You are more correct than you think. Not with these too jaboneys, but with real analysts. They all believe in the efficient market hypothesis, since they had to to get good grades in biz school, so they don't do their homework. At all. They simply take co. guidance/touts and massage it.>> Mike, I think back to my first 10K many years ago. I had ordered a car radio from a small mail order house named Wards at the time that I was taking introductory financial accounting. I had Wards send me their financial statements and thought this tiny microcap with a handful of stores in the Richmond-Washington area looked cheap, and was ready to grow. However, in finance I learned that markets are efficient, and analyzing statements is a waste of time, so I didn't buy any. It next came to my attention several years later after considerable expansion and a name change -- to Circuit City! My consolation is that I know I would have sold too soon. <g> Cheers, John