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To: Jeff Dryer who wrote (47781)	3/29/1999 10:37:00 AM
From: 16yearcycle	Read Replies (2) \| Respond to of 164684

Hi Jeff! I am suspicious that no one noticed it was you. Thank you for your thoughtful comments. Gene

To: Jeff Dryer who wrote (47781)	3/29/1999 3:16:00 PM
From: X Y Zebra	Respond to of 164684

This is the corruption of Wall Street. Indeed, as it is with most "established" institutions. However.... And to add a complex twist, analysts and their institutions are in the business of protecting their favorite companies. So, if things aren't going well at a company, they just might come out with a BUY rating to cover up the problems... fools most of the public almost all of the time... shame on them. Which to a degree... "it is only natural", since after all, human nature... blah, blah, blah.... That leaves for no substitute for.... depending on no one but oneself. Why? Because knowing your facts, doing the research, and executing decisions based on an established system, that ideally has been tested, and it works... Yields better results, and you get rid of unnecessary "worry". In this fashion there are no excuses. Blaming the analyst, the politician, (as much as I would love to...)(), or the weather, is a time honored practice to waste time. Then... Who cares what the analysts say, how the politician has lied, nor what the weather causes others to do. Even then, it ain't safe out there Lucrecia. Of course.... just my ramblings... () Not to worry, the politicians have done plenty so we can still blame them for a million things.... except in their case, it is well documented that they are frauds, therefore, well justified.

To: Jeff Dryer who wrote (47781)	4/1/1999 7:04:00 AM
From: KJ Duke	Respond to of 164684

I have to disagree Jeff. Street analysts are not as bad as you make them out. Some? yes, a majority? I doubt it. All? definitely not. There is a large gray area for analysts when extracting information. Theoretically, analysts are getting information that others could get if they ask the right questions and prove that they've done there homework! Much of the problem lies with the executive mgrs who will only return calls to analysts, or to select analysts for that matter, the bigger ethical problem lies with mgt of public cos imo. Problem is, as an analyst, you've got to dig and push mgt for all you can get, if you don't, they're probably telling someone else more than you, and this is a highly competitive world ... bottom line, its up to mgt to provide equal disclosure. And, with respect to the Buy ratings analysts carry on companies when they shouldn't ... there are three principal reasons, 1) pressure from the firm's investment bankers (very intense at times), 2) personal greed, or 3) a desire to continue to get info flow from certain exec mgrs who put analysts in the "doghouse" when they don't mimic mgt's own projections and view of the world. Of course there is another reason, they're not all geniuses, and many can be quite lazy when it comes to doing actual research. Trick for an analyst is to build their business on credibility while trying to satisfy each faction (inst'l clients, co mgrs and invest bankers) which often times have directly opposing interests. This is what I tried to do, its harder, but you're happier and smarter at the end of the day. Problem is, its not worth it over time for most, which is why I am now in what can be considered semi-retirement for Street analysts (working on the buy side as a pf mgr).