Category: Money tips Release Date: 2006-12-09
The author of the brokerage industry analyst research reports, has always been an admirer, with a total sense of the study findings are very objective, referenced data is very accurate. A friend even said that brokerage research reports have become a lot of potential Niugu excavated by the Fund, one of the main sources, which may be "research to create value," the origin of the proverbial.
However, in the past two years, I found an interesting phenomenon, the study revealed between the lines of the tone or the valuation of preferences, there is often a great atmosphere, and the market association. If Quotes downturn, the study relatively cautious and objective, the main reference to the fact that all that have taken place, often a lack of passionate text description. However, if the Quotes optimistic research reports are also becoming radical, or even the basis for the conclusions it is possible to happen.
This is an extract from the mainstream media in recent broker research reports can also be seen. For example, a broker in the Constant Group, Institute for the study is based on the controlling shareholder of the transformation, we derive the fundamentals of listed companies will undergo a positive change, so given the "Recommended" rating. Little did they realize the transformation is not necessarily controlling shareholders of listed companies is bound to bring about fundamental change. However, this study there are at least a certain logic relationships, and can still convince the market.
For some of brokerage research reports, because the input data, information, etc. and the media to disclose the existence of certain differences in the probability of convincing greatly reduced. For example, a broker studies have reported that nest east of shares of the attapulgite mineral will bring enormous investment highlights, worth more than 130 billion yuan, equivalent to book value per share 65. But in a Securities News last year, March 15 is also "nest east of shares: palygorskite rich? ", A list of reasoning, information, data, and research reports there are still some differences in this context, small and medium investors, including even the mainstream of the fund is the trust?
The face of such a study and media reports, could not help but uttered a sigh, alas, the letter to? If you do not believe that brokerage research reports, then the study could not examine the creation of value, but examine the creation of bubbles, this conclusion may not be market participants are willing to see.
