Forbes Mag. on "Wall St. Analysts" as patsiesgreenspun.com : LUSENET : TB2K spinoff uncensored : One Thread |
http://www.forbes.com/forbes/00/0306/6506188a.htmHow the analysts "spin" the numbers and the decline of the old wall between the analysts and investment banking. This is limited to the more respectable firms but after the LAJD pitch here the comments about the sound bites of the Walter Winchell types applies.
-- cpr (buytexas@swbell.net), March 10, 2000
I love the show "Wall Street Week" with Louis Rukeyser(sp?), but I've always thought that having the guest fund managers and analysts tell us "what stocks they liked" was a complete scam. Just one more way to create a buzz for a position that they were already solidly in, or trying to quietly get out of without losing too much value. Fidelity investments has been caught redhanded publicly touting a certain stock while dumping their postion out the back door.
-- Michael (123@456.789), March 10, 2000.
A new phenomenon, not unexpected, is the Internet stock picker. They come in many varieties. Some offer free opinions. Maybe their motivation is ego; more likely they are pumping a stock they own or they are paid promoters. They show up on various stock message boards and are available thru free listserves. A variation offered by some "gurus" with a reputation, like Tokyo Joe, is to sell memberships that qualify the member to receive early notifications of buys and sells proclaimed by the guru. The picks are then made available for free to the public after the paid member has been notified. The SEC is starting to scrutinize the activities of these Internet stock pickers.The new movie "BoilerRoom" is an expose of high pressure cold-call stock sellers who phone-sell phony stocks to gullible, often older, folks. No doubt this still goes on, but the Internet has elevated stock pumping well beyond telemarketing.
-- Lars (lars@indy.net), March 10, 2000.
One day.One Stock.
One shill.
http://search.mb.yahoo.com/search/bbs?p=lajd&M=c
-- The Shadow (shadow@knows.com), March 10, 2000.
RESULT?up almost 40% in one day: Views: Basic [edit] - DayWatch - Performance - Fundamentals - Detailed - [Create New View]
Fri Mar 10 5:03pm ET - U.S. Markets Closed. Symbol Last Trade Change Volume More Info LAJD.OB 3:58PM 0.890000 +0.250000 +39.06% 1,113,600 News , SEC , Insider http://quote.yahoo.com/quotes?symbols=lajd
-- The Shadow (shadow@knows.com), March 10, 2000.