Monday, February 09, 2009

Equity Analysts - Buy! Buy! Buy!

It turns out the equity analysts have been just as incredibly optimistic in the past few years as they were during the dot com boom of the late 1990s. Reforms designed to address the conflicts of interest at investment banks don't seem to have curtailed the bias toward "buy" recommendations within the equity analyst community. The New York Times has a very good article on the issue today.