Jefferies as Contrarian Indicator -
Lady Chamberlain - Jeffries' Clown Analyst
Last week Jefferies downgraded AX. Here's why that's great news for the stock. Check out the analyst's track record covering growth-oriented, innovative financial services firms here: http://tinyurl.com/6pwed
In this age of information, analysts can not hide quite as easily as in yester-year.Why are companies held accountable for their guidance and actual outcome accuracy, but analysts that steer the perception of institutional money managers (i.e, portfolio managers at mutual funds and hedge funds) have no penalty for being WAY wrong?
When BAXter International's management team couldn't get their forecasting right, the Board got rid of the top brass and the stock was hit. When an ANALyst screws up their forecasting and the stock takes a hit due to their poor forecast, there's little if any repricution for the bonehead bean counter.
In this age of information, analysts can not hide quite as easily as in yester-year. Looking at Lady Chamberlain, it seems like she's from an era of no accountability. It's a different world now and hopefully one of these days she (and others that are consistantly way off) will be held accountable for their knucklehead calls.