Well, it would all be a joke if it did not have an impact on large amounts of money.
We frequently read, "analyst so and so initiates coverage with a buy /sell / hold and a 12 month price target of..."
Then, depending on a variety of factors like guru status, prestige of the company, size of portfolio under management, timing of release and competing news events, a stock price will make a corresponding move up or down. In other words, for no good reason!
Call me cynical. Worse, call me angry. The entire process and response of the market is maddening.
On occasion I have been challenged by readers questioning the extent of my knowledge in relation to their perception of my influence. Some have even wished I would slip from my giant soap box into a land of a thousand bubbles and be carried away by the same fear and greed influencing the masses. Whoa.
So what has me so upset? It is that the analysts so infrequently adjust their recommendations as to make them worthless. WHY, NO CONSTANT MISSION IMPROVEMENT? What good is it if Piper Jaffray issues a price target of $600 per share by the end of the year for Google (GOOG) and just lets it sit out there in investor land (never-never land maybe), until they feel they have sufficient egg on their face to change the call?
Google's plan for netbook PCs moves higher into the clouds
So long peak oil, here comes peak uranium
Black Friday expected to be strong, no promises for Christmas
