You know I’m no fan of ANALysts–they’re only right about 30% of the time (oh I forgot past performance is not indicative of future returns LOL my bad!), but this research paper found by AMP (good job you investigative journalist, good good good!) is truly astounding stuff…
Here’s the manipulation:
Researchers found of 300,000+ analyst calls, 2,411 altered, almost 4,000 deleted, 33,000 added later. Analyst name deleted from 18,000…The changes include alterations of
recommendations, additions and deletions of records, and removal of analyst names.
The full report is 20+ pages and is typical boring academia, so have fun if you have no life, but for those of us who do, just think for a second about what this all means–in case you had the slightest bit of trust/respect for anyone on Wall St.–especially any ANALysts–(I guess you didn’t this post about what a laughingstock that ANALysts Tony Wible, Leo Kulp & Albert Lui are (they predicted SIRI would quintuple from $1.38…now it’s at 14 cents, someone please tell me these guys don’t have jobs anymore!!)), well now the hard evidence says you shouldn’t.
In case you’re not a tech geek or on Twitter (special Twitter-only contest coming up, follow my updates HERE), Google just launched Google Latitude, a service that lets you track all your mobile phone contacts on pretty Google Maps…here’s a good overview article. Cool but kinda scary, right?
Now wouldn’t it be cool if Wall St. had a similar service where you could track everyone’s verified trades/investments/calls so they can’t change them after the fact like some sorry ass ANALyst?
Wouldn’t then we be able to separate hype from fraud, the smart from the dumb?
Oh wait THERE IS!
Tags: ANALysts, Manipulation
