| FishyJoe said: Anyalysts are merely an instrument of financial institutions to manipulate public opinion. If you accept that fact, all their statements make sense. The real, actionable information is passed in private and is unavailable to the general public. |
I agree, and I think far too many people take what an analyst says on its face value without considering the motives. Using a different market as an example ...
Back in about 2004/2005 many bloggers were starting to notice that something wasn't right in the housing market; house prices on a national basis (typically) increase at (roughly) the rate of inflation, but since 1996 (or so) there was a massive disconnect with the rate of inflation which lead people to believe that 'we' were in the middle of a housing bubble. For months these 'Crackpot Bloggers' (as the professional analysts called them) were talking about how ultra low interest rates, market speculation, and questionable lending practices were pushing the values of homes to unrealistic levels.
Today we know that the 'Crackpot Bloggers' were correct and the analysts (inspite having more education, experience, and access to more data) were completely wrong. Now you can look at this a couple of ways, either these highly paid analysts are not worth their salaries OR while they were calming the public they were moving their money to 'safer harbours'.
