Answer:
Clueless Number 1: Erin Callan
Clueless numbers 2-15: 14 Goldman Sachs analysts who labored hard to produce that recommendation
Clueless number 16-23: 8-strong crew on CNBC who decided to carry this drivel unchallenged
Clueless numbers 24-1,000,023 (or so): all those who rushed out to buy Lehman's shares on GS recommendation
(I obviously made the numbers up, but, hey... in the world full of clueless analysts this gets one paid loads of money, apparently. Just ask GS)
1 comment:
$45 price target!?! One wonders what world these people were living in, though I guess we were all pretty delusional back then. After all, Anglo shares were still valued at considerably more than nothing at the same time as the Lehman farce which you've so drolly described.
That said, I'd almost be prepared to trade today's sense of confusion and despair for the naivete of early '08.
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