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May 31, 1997

Tipping the Balance

Who's analyzing the analysts? We need more transparency from the sell-side

Hard as it may sometimes be to comprehend, one thing remains certain: analysts are human. They are not the calmly scientific investigators many in the IR community perceive them to be. Nor are they automatons solely dedicated to producing research notes. Professional, yes. Well, most of them, anyway. Infallible, no. Completely impartial, no. Analysts are just as susceptible to hype and inflated expectations as the rest of us. Add in the possible conflicts of interest in today's integrated

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