intelligence agents intercepted a shipment of aluminum robes hound for Iraq, CIA analysts
concluded they were for uranium enrichment, proof that Saddam Hussein was building a secret nuclear-weapons program.
A CEO respected by analysts
will have far more room for error than one who is viewed as arrogant or overconfident, or, worse, dishonest.
Insurers and analysts
have different views on the effects of Reg FD.
In his view the high-risk areas of leaks do not spring from company discussions of earnings with their analysts
but rather involve insider trading violations which are addressed by other federal securities laws.
Cutler goes on to talk about a company that, in October 1999, alerted analysts
to a slowdown in sales.
At Lehman Brothers, we expose our industry analysts
to our economics people by having monthly "sector" breakfasts.
Listening to their stories at the meeting, I found out several useful things: (1) there are 15,000 analysts
at large in the country and mostly in New York; (2) analysts
at brokerage houses are expected to serve us, the stock-buying public; (3) some analysts
, called "quants,' speak a form of calculus, so nobody can understand a "quant' except another "quant'; (4) most analysts
have MBA degrees and are very well-informed; and (5) they may be the first to know when to buy and when to sell stock.