The behavior of the Wall Street analysts is corrupt. The companies they are meant to be ``analyzing'' are almost always either customers, or potential customers, of their investment banking divisions. To keep their big, corporate investment banking clients happy, the analysts essentially lie to the greater investing public. To mollify the big institutional investors, they offer them, on the sly, higher and more honest estimates . . . Ultimately, the Internet will force analysts at big securities firms to decide between alienating their corporate customers and making themselves ridiculous to the wider public. Actually, the decision will be made for them: They will alienate their corporate customers. If they don't, they will simply be ignored by investors altogether, and thus rendered entirely useless to their corporate customers.
Michael Lewis in Internet Trips Up Wall Street (Again) from Bloomberg (7/20/99)Opinions are like butts. Everybody has one, but you don't want to see yours in the newspaper.
Margaret (Hattie Winston) on CBS's Becker (7/19/99)
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