Word: sec
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...SEC took its stab Wednesday at trying to rebuild the wall between analysts and investment bankers, announcing new rules barring Wall Street firms from using (and compensating) their analysts as investment-banking shills and upping the disclosure requirements for analysts' reports and public appearances. Other proposed prohibitions include an analyst owning the stocks he covers, and the issuing of reports by firms while they're closing related investment-banking deals...
...next time you see an analyst on CNBC telling you Company X is a "strong buy" at $30, and Company X promptly goes bankrupt, he wasn't ripping you off - he was just really, really wrong. Which, under the new SEC rules, will still be legal - and still be quite common...
...SEC could take the fatalistic approach and just let the rules alone, forcing Wall Street and its analysts to create their own value as seers by the quality of advice they give out - or risk the collapse of the whole fortune-telling industry. (There is some evidence that Wall Street pros earn their money - in the Wall Street Journal's "Dartboard" feature, which announced its retirement last month after 14 years pitting dart-chucking staffers against investment advisers, the dartboard won only 55 of 142 contests.) Another way might be simply to abolish the "buy," "hold" and "sell" ratings, letting...
...there's one conflict of interest that the SEC will never get at: Everybody on Wall Street benefits when the markets go up. Deals get bigger. Commissions get fatter. Decisions get easier - just run with the bulls - and CNBC anchors' smiles get wider, because the more people making money in the market, the more viewers tuning in to hear what the analysts, economists, CEOs and Warren Buffett think is the best place to put your chips...
...We’re not scared of the challenge of playing [an SEC or Pac 10 team],” men’s co-captain Dalibor Synder said. “We’d look forward to playing a team we’ve played before...