Honest analysts

Most IROs spend a lot of their time talking to analysts, those tireless window-cleaners of capitalism who ensure that everything is crystal clear and transparent for the world’s investors. But is all this research quite so limpid? Can the sell-side carry out independent research, or is the Chinese Wall all too permeable, and the research clouded by the leak of self-interest from the revenue generating operations? Two prominent and renownedly independent researchers, independent unto this last,