To: Chuzzlewit who wrote (122563 ) 5/5/1999 7:33:00 PM From: David S. Read Replies (2) | Respond to
Chuzzlewit, I have a different view since my son is a buy-side analyst. Now he is rather new to this trade, learning on the job for the past two plus years, and about to take his third and final CFA exam. But nonetheless, there is a world of difference between buy side analysts and sell side analysts. The fact you came across a buy side analyst is a fluke, they are mostly unknown to the public, and like my son their job is not to make fancy reports and prognostications for public consumption. Rather, they provide the basis for buying and selling within a mutual fund. If they make good picks that yield profits, they are rewarded, if they do lousy, they lose. They don't bank on PR, like sell-side analysts, Tom Kurlak, Dan Niles, etc. Rather, performance is king. On the other hand, the sell side analysts are part analyst, part tool of the broker's interest, part PR person. Their main role is to help move investors in and out of particular stocks according to the company's present interest, whether or not it is in the investor's interest. A very big difference. Kurlak was a pro, making stuff go up and down, thus generating lots of commissions. They also do a lot more analyzing on stocks that have a financial or advisory involvement with the Brokerage firm. Very different for buy-side analysts. There results count, not PR. My son's bonus amounts to 25% up to 100% of his salary, depending on how well he picks winners. But you won't know who he is even if you bought funds from that company.
