[CANSLIM] analysts

From: "Patrick Wahl" <pjwahl@attbi.com>
Subject: [CANSLIM] analysts
Date: Mon, 12 Aug 2002 10:05:06 -0600

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Well, those Wall Street weasels are still weasels, even after promising re=
form.  
Here is the link, since it requires registration, some people will probabl=
y not be able 
to get there or wish to register, so I've excerpted a couple of  passages =
below -

http://www.nytimes.com/2002/08/11/business/yourmoney/11BROK.html


The two executives boasted that Salomon, Citigroup's investment bank 
subsidiary, had been the first to adopt reforms suggested by Eliot Spitzer=
, the 
New York attorney general, who is investigating Wall Street research. They=
 
also proposed additional moves that regulators might take to prevent a fir=
m's 
investment bankers from exerting improper influence on its research analys=
ts
.....
As Mr. Boss tells the tale, in late June, after spending weeks on a report=
 
analyzing three office furniture companies, he was lukewarm about the stoc=
ks' 
prospects and assigned them a neutral and high-risk rating. He argued that=
 
until the overall business climate improved, demand for these companies' 
products would be lackluster. When two Salomon investment bankers and Mr. 
Boss's immediate supervisor saw the draft report, they demanded that he 
revise it to be more upbeat. Mr. Boss refused. A few days later, on June 2=
7, he 
was fired. Mr. Boss, 33, was offered $24,230 in severance from Salomon, 
which he refused.

Beginning on June 3, for example, the firm said that any fact checking by =
the 
investment banking division of draft research reports would be limited to =
the 
first research written about an initial public offering. Moreover, the rul=
es said 
that any draft research sent to investment banking for fact checking "must=
 
omit the rating and target price as well as the investment thesis and valu=
ation 
analysis sections."

According to Mr. Boss, two Salomon investment bankers, Richard Moriarty 
and Marc Schneider, flouted those rules the week of June 23, demanding to 
see Mr. Boss's report, which was in draft form on his laptop computer. 

Stephen S. Kim, the analyst covering home-building stocks at Salomon and 
Mr. Boss's immediate supervisor, told him to put the report on the firm's 
internal network so it could be reviewed by the investment bankers. Mr. Bo=
ss 
protested, noting the firm's new rules. Nevertheless, Mr. Schneider soon w=
ent 
to the research department and reviewed the report on Mr. Boss's laptop. T=
wo 
of the three office furnishings stocks that Mr. Boss had advised investors=
 to be 
cautious of =94 Interface and Steelcase =94 had recently issued bonds that=
 were 
underwritten by Salomon. 




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