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Formal Evidence Thousands Of Wall Street Analysts Altered Their Reports aka Wall St. Needs A Google Latitude

Posted by Timothy Sykes on Thu 5th of Feb, 2009 08:35:36 AM
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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!

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  • TommyTim
    Bank of America is about to go bust.

    California is 42 billion in debt.

    New York City is 4 billion in the hole.

    Recycling centers around Los Angeles are said to have lines 100 deep.

    End of the world as we know it my friends. Based on the bible an asteroid should hit earth soon.
  • Mike
    My favorite was last years $200 oil prediction by the goldman sachs analyst when oil reached its peak at $140.

    These crooks got paid millions for being off 60-70%. For blowing a bunch of hot air guesses.

    http://www.marketwatch.com/news/story/goldman-s...
  • MY predictions are more accurate than 95% of ANALysts and i'm a PROMOTER! lol
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TIM Trades

View All
Date Stock Buy Sell Net
Nov 6 QXM $4.31 $4.80 $1936
Nov 4 COT $8.66 $8.88 $642
Nov 4 QXM $4.61 $4.89 $822
Oct 30 DDRX $25.70 $26.53 $812
Oct 29 CTDC $4.00 $4.42 $781
Oct 26 AWSL $3.24 $4.10 $2516
Oct 23 RODM $5.27 $5.23 $301
Oct 22 AMLM $2.69 $2.97 $820
Oct 22 USEG $6.12 $6.09 $85
Oct 20 CBOU $8.93 $9.06 $243
Oct 16 VRMLQ $16.79 $18.65 $2773
Oct 13 YONG $11.05 $11.66 $1202
Oct 13 NPHC $0.59 $0.71 $583
Oct 12 IMGG $0.60 $0.70 $682
Oct 9 ZAGG $5.50 $6.10 $2380
Oct 7 GVBP $0.03 $0.27 $702
Oct 1 NPHC $0.70 $0.85 $1482

Total: $92,304 (644%)