FOOTWEDGE...
I'm sure that we can go back and forth on this until the cows come home.
One can cut this up any number of different ways. I like things very straightforward and clear when it comes to analyst coverage.
At the end of the day, research that is not PAID for (either in stock or "subscription fees") AND research that has NO CONFLICT OF INTEREST (meaning that neither the company nor the analysts have a position as of the time that their research is published) is INDEPENDENT research. That's the only definition of independent research which is meaningful to little investors like myself. Does INDEPENDENCE mean, necessarily, that the research is higher quality?
Nope. So, I'm not questioning the qualifications of a RESEARCHER who works with JM Dutton. Nor am I questioning (in the abstract) their abilities to craft a good report. I've read some of their reports--including one about an investment of mine that BLEW UP (not the positive kind've blow-up either). It was well-written and well-researched report.
But, the INDEPENDENCE thing is a legitimate issue... and, in this case, a FACT that one is either super-comfortable, moderately comfortable or only slightly comfortable with.
Best Regards,
c m
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