Monday, November 10, 2008
GM Death Spiral or Another $0 Price Target
This time its on GM, already down over 90% in a year. Whats with these jerk off analysts, have they no shame? To set the record straight and note the incompetency of Deutsche Bank (read douchebag bank) (DB) analysts, I'd point out that they had a buy on GM as recently as February and were recomending hold until today. I find it comical that they tell their clients to hold GM all the way up until today when they recomend selling and the stock drops another 30% under their clients. I'm sure that DB's customers that held until now were happy to see their bank finally recomending sell to save the last 5% of their investment. Way to go douchebag bank! Note this is a follow up to a post I did on IMB.
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3 comments:
pythagoruz, I completely agree with you. How is it possible that these analysts who are supposedly educated and experienced still have jobs after:
1. Totally missing the ball on a 40% market drop
and
2. neglecting to steer their clients away from duds like GM
It just goes to show you that short term techincal trading is not only more profitable, but a safer method of turning a profit.
More Commentary please :)
Detective, yep, its incredible and I see it as one of many excesses in the finance industry as these people get paid very, very well. My understanding is that the established ones are the best paid in the industry aside from maybe the managers of the biggest funds but someone correct me if I'm wrong. After this all blows over I expect there to be significantly fewer analysts out there. What value do most of them really add? Certainly there are some good ones out there but the majority of them just trail the market. One quick glance at a chart can tell you more about the company than an analyst.
Anonymous, I've been busy lately but I will try and get back to more frequent postings. I can say that there is definitely a relation ship between the frequency of comments and the frequency of my posts. So keep the comments coming!
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