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Oct 31, 2001

Selling out

Casting a critical eye over the sell side

Sell-side analysts don't do the job they once did. More to the point, the role they perform now is increasingly being questioned. Where is the profession of equity research going? And how is this likely to affect the job of the IRO? Once upon a time - about a generation ago - sell-side analysts stood upon a pedestal. They occupied a pivotal position as the primary communication channel between companies and their institutional investors. Until 1975's May Day in the US and London's 1986 Big

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Tony Golding

Tony Golding is the author of The City: Inside the Great Expectation Machine - Myth and Reality in Institutional Investment and the Stock Market, published by Financial Times Prentice Hall. Further details at www.bedfordpark.demon.co.uk/city
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