The Truth About Wall Street Stock Research--Now 100% Updated for Today’s Markets!
They mislead. They confuse. You can’t afford to listen to one word stock analysts say--especially not right now. Wall Street won’t tell you how to protect your capital or steer you toward gains. The Street is good at selling, not analyzing; it wants you to trade, not invest. In Full of Bull, Updated Edition, one of the Street’s leading insiders reveals the hidden code behind Wall Street’s Byzantine practices.
For decades, Stephen McClellan was one of the Street’s top analysts--he knows exactly how the game is played. Now, in this revised guide for the individual investor, he describes how Wall Street came to cost investors billions by denying the realities of a market collapse in progress. He explains how a congenitally favorable bias led brokerages to keep recommending stocks, such as AIG and Fannie Mae, up until the moment of their ultimate demise.
In Full of Bull, you’ll learn how to look for analysts’ favoritism and blind spots; how to react appropriately to upgrades, downgrades, and price targets; and to recognize what company announcements really mean. Drawing on his immense body of experience analyzing top companies, McClellan shows you how to systematically evaluate a company’s prospects yourself and choose investments based on principles that work. This is exactly the kind of objective, focused guidance you won’t be getting from your broker!
· When “buy” is a lie, and “hold” means “sell it all!”
Powerful, unforgettable lessons from the market collapse
· Which research you must ignore, no matter what
And where to find research that’s worth using
· Decode the Street’s hidden signals and misconceptions
Filter out the noise, find the truth, and profit from it
· The real keys to a quality investment
40+ principles, strategies, and practices that work―even now
Stephen T. McClellan holds a Chartered Financial Analyst (CFA) designation and was a Wall Street investment analyst for 32 years, covering high-tech stocks as a supervisory analyst. He spent 18 years as First VP at Merrill Lynch and eight years as VP at Salomon Brothers. McClellan ranked on the Institutional Investor All-America Research Team for 19 straight years, and The Wall Street Journal Poll for seven years; he is in the Journal’s Analysts Hall of Fame. He has appeared on Bloomberg TV, CBS, CNN, CNBC, and Wall Street Week and presented to many leading technology companies. His work has been published in The New York Times, Financial Times, Forbes, and other leading publicities. He authored the bestseller The Coming Computer Industry Shakeout.