Unconflicted
Independent research firms come into their own
WITH the integrity of investment research at Wall Street's giant banks in grave doubt, others are profiting. One partnership that sells such research, Portales, has urged clients over the past year to sell the shares of all the big banks, all the big brokerages, and a half-dozen consumer-finance companies. Until very recently, it had a “buy” rating on, well, nothing.
This article appeared in the Finance & economics section of the print edition under the headline “Unconflicted”
From the October 26th 2002 edition
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