Tuesday, November 22, 2005

Tomorrow's the Due Date for Citi's 2nd Opinion

Just a quick reminder, per the settlement between "The DYX" (read: Higgens & Co.) and The NYX, Citigroup has until tomorrow to submit its fairness opinion to the court. See the 2nd to last paragraph in this article for evidence that tomorrow's the day.

It's possible that NYX will release the content of Citi's fairness opinion towards the end of trading tomorrow. Then, Thursday, the markets here in the US pause so we can all be with family, eat a ton, and give thanks to Jerry Putnam and his team for providing AX shareholders with a tremendous year.

And speaking of years, here's a presentation that I posted on ArcaNews (scroll down to November 22, 2004), exactly one year ago, today. It was clear then, as it is today, that ArcaEx is the bourse of the future. This presentation was given to a group at the Weatherhead School of Management at Case Western Reserve University last autumn -- I only hope that some ArcaNews readers, and some that attended my presentation, purchased AX when it was trading in the teens -- and scores of analysts were downgrading them. Those analysts include:
-Charlotte Chamberlain, Jeffries & Co.
-Rich Rupetto, Sandler O'Neil
-Roger Freeman, Lehman Brothers
-Anonymous (source of downgrade put on "analysts at Piper Jaffrey,"), Piper Jaffrey
-Richard Herr, Keefe Bruyette
-Michael Vinciquerra, Raymond James

Look no further than ArcaNews for accountability for these incredibly-wrong analysts (click here, and scroll down to June 17, 2005 for a "knucklehead scorecard") -- and ask yourself, what does it take to be an analyst? It's amazing that anyone gives these clowns time on earnings calls. In fact, last quarter's call included a question from an analyst asking Putnam, et. al., if they could provide metrics that would be meaningful to them (the analysts) so they can figure out how to assess AX. Isn't that an analysts job? You can listen to that call here.


Post a Comment

<< Home

Free Web Counters