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I monitor CNBC regularly and have noticed that stocks recommended by the
better known investment banking firms tend to move up nicely over time.
Especially recommendations by firms like Morgan Stanley, Bear Sterns,
Goldman, etc. Further, some houses have significant influence in certain
industries, For instance, Soundview, Cowen, Robertson Stevens seem to have
great influence in the high tech arena.
The sponsorship rationale is that you and I can not move markets but these
firms can and do it with pinnace. Now, I am not so naive that there may not
be some dumping of stock on their recommendations, but careful review of
other information sources including the stock chart might help prevent
getting into a trap.
Does anyone know of an electronic source for such recommendations? I
currently use Reuters and Comtex via Telescan. These reports are OK but they
can be delayed/late. The main problem with this source is that you have to
search by stock symbol. I really would like to see the listing by investment
banking firm, i.e., all the stocks currently recommended by a Morgan Stanley
with dates. I also see the daily listings in IBD, again late. The reports by
First Call and Zacks are OK, but lack the specifics of which analyst is
making the recommendation. Experience has taught me that a recommendation by
Prudential's Telecom analyst is the kiss of death, but their Paper & Forest
Products guy is outstanding.
Any help out there on electronic sources or approaches? Thanks
Jim Barone
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