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Aug 31, 2001

The bull market

Standards of practice for analysts and why investors are crying out for them

Most sell-side analysts are either shameless liars or shamefully incompetent. That would be the opinion of pretty much any investor who got wiped out by listening to one of the countless analysts who stuck to their strong-buy, buy or hold recommendations throughout the long stock market swan dive. Multiply that opinion by millions and you can begin to measure the crisis of confidence facing Wall Street.The situation is disturbingly reminiscent of another bubble that burst some 70 years ago.

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