Word: investor
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Dates: during 2000-2009
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...Henry Blodget and other Merrill Lynch analysts privately calling stocks "a piece of junk" or "crap" or "a dog," while advising clients to buy them. The e-mails, subpoenaed and made public last month by New York State attorney general Eliot Spitzer, have created an uproar among investors who feel they have been defrauded by brokerage firms whom they had trusted--and often paid--for honest advice. The Securities and Exchange Commission last week approved new rules meant to moderate the collaboration of bankers and analysts within brokerage firms. But some lawmakers and investor advocates view the rules...
Pitt came to the job with a goal of regulating through consensus and self-policing, a stark change from his predecessor, Arthur Levitt, who was an outspoken ally of the small investor. In the wake of Enron, Pitt hasn't had a chance to test his style, and the hard-charging Spitzer is now making many wonder if Pitt isn't plain soft. "The SEC under Harvey Pitt has been something of a reluctant regulator," says John Coffee, professor of securities law at Columbia University. Damon Silvers, associate general counsel at the AFL-CIO, which has been carping about analyst...
...stock slide isn't so much about the economy, which grew at a heady though unsustainable 5.8% annualized rate in the first quarter. It's more a reflection of investor confidence, which was shattered by big losses and evidence that accountants and analysts endorsed companies they knew were rotten...
...Investor gloom may well overshadow improving economic fundamentals through the summer. "The market has not bottomed," asserts Woody Dorsey, editor of Market Semiotics. "Bottoms are always made on capitulations of some type, and one may be close at hand...
...Asian stock investors are starting to demand more respect, though. In Japan, apparel company Tokyo Style is fending off a rare revolt by shareholders who want a bigger dividend from the company's $1 billion cash reserve. Looking to boost investor confidence in the market, Chinese regulators have launched a campaign against embezzlement by listed companies. In Malaysia, private investors have established the Minority Shareholders Watchdog Group, and a similar body has been formed in Taiwan...