October 2007
Beginner
205 pages
5h 32m
English
Content preview from Your Next Great Stock: How to Screen the Market for Tomorrow's Top PerformersBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Chapter 17. The Bold Is Beautiful Screen
"I can't believe what a POS that thing is, "wrote one Wall Street analyst in an e-mail in December 2000."POS" stands for point of sale in the retail business, but the analyst wasn't writing about retail. He was writing about an Internet marketing stock, and his "POS" stood for "piece of sh*t." The assessment was an accurate one. The company, Lifeminders, has since dissolved for lack of profits. Its former shareholders lost all of the money they invested.
The analyst, Henry Blodget of Merrill Lynch, might've won praise from investors for his tough but honest warning. The problem is, he didn't send this message to investors. He sent it to a colleague at his firm, while at the same time publishing research reports recommending the rest of us "accumulate" shares. This wasn't an isolated incident. Six months prior, he had called Excite@Home, a now defunct Internet portal, "such a piece of crap!" in an internal e-mail, while publishing "buy" recommendations on the stock.
Analysts have a vested interest in making accurate recommendations. Why would one of them praise a stock in public and bash it in private? Blame the conflict of interest facing analysts who work for firms that also provide investment banking services to companies.
Investment banking services include helping companies issue new shares to investors in order to raise money. The fees for such services are significant. A company seeking to issue new shares would naturally prefer to do ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.