Why Brokers say "BUY!"
It is well known that despite all the brain power collected in our industry brokers almost never say sell.
I remember the broking firm I worked at in the UK 30 years ago losing the number one rated media analyst because he wrote a piece of research on Maxwell Communications entitled “Can’t Recommend A Purchase” (get it?). We were Maxwell’s broker and the analyst was trying to say sell, with good reason as it turned out. Robert Maxwell rang up and insisted he be sacked. He was. Even though he was right. Robert Maxwell later fell off the back of his boat and his sons picked up the flak for a massive misappropriation of funds from the Maxwell companies. The analyst was swiftly...Continue Reading