ERTS- I just received an email from the analyst at Wedbush Morgan. Below that is the note I sent them. I received an earlier email from a VP which was much nicer in tone and offered me a copy of the report.
>>>
I'm the analyst.
I initiated with a buy on February 14, 2002 at $27
Downgraded to hold on September 3, 2003 at $45.65 (18-month return of 69%)
Upgraded to buy on March 15, 2004 at $47.14 (six month return "lost" was
3.5%, and the S&P 500 was up 7.6% over the same period)
Downgraded to Hold on December 14, 2004 at $60.36 (9-month return of 28%)
Upgraded to buy today at $47.45 (five month return of 21%)
I frankly don't care if I have your confidence, and trust your judgment to
invest as you see fit. Our clients have been quite happy with my
recommendations.
Michael Pachter
Senior Vice President, Research
1000 Wilshire Blvd., 10th Floor
Los Angeles, CA 90017
>>>>>
I'm sorry, but I have to comment on your upgrade of ERTS to a buy. After what they said last night I can't imagine why your firm would see upside here worth the risk of an investment. Nor can I understand why you would tell your clients that they must 'buy' this stock with it's uncertainty. Many of us private investors are rapidly losing trust in the analyst community. I do not have access to why you moved to 'buy'. If you could share it would be much appreciated. I am not a client.
News 
Market Data 
Discover 
