One analyst has downgraded Bank of America to a sell. The median recommendation is a 2.5 on a scale of 5 with 5 being sell.
The median recommendation for Citigroup is 3.1 on a scale of 5 with 5 being sell.
And to think these people still go on TV and make recommendations.
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3 comments:
This is all sell-side analysis. It's what the management want people to hear. Sell-side analysis is free, plentiful, ubiquitous, and worth every penny that you spent to get it -- i.e., zero.
Buy-side analysis is what people who make recommendations to the fund manager they work for do. It's what investors would like to know. Buy-side analysis is expensive, difficult, tedious, rare, and has a marginal track record with a number of scholarly articles showing that in general stock pickers do not beat the market.
When it comes to stock recommendations, I've never seen a more aptly named site than yahoo.com -- if that's how you're investing, you should stop it now before you do more harm to your IRA.
The "analysts" are paid to opine what their owners want, not what the numbers show.
jon stewart has it absolutely correct, even though NBC put a full court press on damage control. if you havent seen them already, check it out.
first jon takes on rick santeli & mentions cnbc & cramer among many, many other 'experts' in passing.
http://www.thedailyshow.com/video/index.jhtml?videoId=220252&title=CNBC-Gives-Financial-Advice
then cramer critizes jon for not presenting his bear sterns comments 'in context'. jon makes the approiate 'correction'
http://www.thedailyshow.com/video/index.jhtml?videoId=220252&title=CNBC-Gives-Financial-Advice
then cramer goes on "the view" & "today" to 'defend' himself.
http://www.thedailyshow.com/video/index.jhtml?videoId=220288&title=In-Cramer-We-Trust
then jon's respose to cramer's response.
http://www.thedailyshow.com/video/index.jhtml?videoId=220510&title=Basic-Cable-Personality-Clash-Skirmish-'09
will it continue or will cramer realize that his comments are really on tape & people save tapes?
stay tuned
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