Wednesday, June 11, 2008

Reason #4000 Why I never Listen To Analysts

This interesting piece is from Bespoke. So,so typical. They never made me a red cent.

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Lehman (LEH) Downgraded From Outperform to Neutral at Wachovia and Credit Suisse

Two more analysts have thrown in the towel on Lehman. Wachovia had an Outperform rating on Lehman (LEH) since upgrading it on March 15th, 2007. They reiterated the Outperform rating 12 times since then, but today, after declining 61% from the upgrade, Wachovia downgraded the stock to Market Perform. Credit Suisse upgraded Lehman from Neutral to Outperform on October 8th, 2007. After a 54% decline since the 10/8 upgrade, Credit Suisse downgraded the stock to Neutral today. Even after today's 2 downgrades, Lehman still has 7 buy ratings, 10 hold ratings and 2 sell ratings. Are today's multiple downgrades a sign that a reversal is near, or is it just a case of better late than never?


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.